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Ikea, Swedish home furnishing brand, has reportedly signed a memorandum of understanding (MoU) with the Uttar Pradesh government in Lucknow. The deal, that was valued at Rs 5,000 crore, stated that Ikea will setup its store in UP’s Noida. Chief Minister Yogi Adityanath was also present .
Adityanath said that with continuous efforts of the state government, the investment environment in UP has become more lucrative. “Industrial institutions interested in large investments are setting up their establishments. According to the policies of the state government, any person or institution can invest in the state. The state government will provide all possible assistance to such investors and industrial institutions,” he added.
An integrated commercial project will be set up by Ikea at Noida, Gautam Budh Nagar. After the establishment, approximately 4,000 direct and 4,000 indirect employment opportunities are being created by this project.
The company had then signed similar agreements with the state governments of Telangana, Maharashtra and Karnataka as well. Ikea had launched its maiden India store at Hyderabad earlier this year and plans to launch stores across big cities going forward.
