‘Ikea can’t retail food items’

Commerce and industry minister Anand Sharma today said that Swedish furniture maker Ikea will be allowed to run cafes and restaurant within its retail store but it can’t engage in retailing food items.

Written by ENS Economic Bureau | New Delhi | Published: April 23, 2013 12:42:21 am

Commerce and industry minister Anand Sharma today said that Swedish furniture maker Ikea will be allowed to run cafes and restaurant within its retail store but it can’t engage in retailing food items.

“The proposal has been recommended by FIPB to the extent that Ikea can have a restaurant or cafe in accordance with their global model but cannot engage in retailing of food items. No food items shall be retailed off the shelf in any other part of the retail store,” Sharma told the Lok Sabha in a written reply.

Earlier,the furniture retail chain had sought permission for single-brand retail trading of Ikea products,including setting up of Ikea restaurants and cafe and Ikea Swedish food market (to sell only Ikea products).

The company has received the approval of Foreign Investment Promotion Board (FIPB) for its Rs10,500-crore proposal,but a clearance from the Cabinet Committee on Economic Affairs (CCEA) is still awaited. All proposals above Rs 1,200 crore have to cleared by the CCEA.

For all the latest News Archive News, download Indian Express App

Share your thoughts
Advertisement
Advertisement
Advertisement
Adda
Advertisement