Swedish furniture retailer IKEA plans to more than double its investment in India to over ₹21,000 crore by 2030 as it accelerates store expansion, strengthens local sourcing and deepens omni-channel presence. According to PTI, the company's India business head Patrik Antoni announced this ambitious expansion plan, stating that the new tranche of investments will be directed towards expanding the retailer's physical footprint, mixed-use developments, renewable energy projects, sourcing operations and technology capabilities. The company, which had committed to invest ₹10,500 crore in India in 2013 when it received approval for single-brand retail operations, has already surpassed that level of investment, with the two upcoming multi-use Lykli centres in Delhi-NCR. As per PTI, Antoni confirmed that "We made a commitment to the authorities that we would invest ₹10,500 crore. This amount is already committed to India at the moment, and we see that we will probably double that investment going forward. By 2030, we should have doubled that at least."
As reported by PTI, IKEA aims to expand its store network significantly over the next few years, planning to open 25 more stores in the coming three-four years and reach about 30 stores by 2030. The company currently operates large-format stores in Hyderabad, Bengaluru and Mumbai, while also developing mixed-use projects in Noida and Gurugram. The retailer kicked off its retail operations in India with the opening of its first store in Hyderabad in August 2018. According to Mint, IKEA is now leaning more heavily into smaller-city formats in shopping malls as shopping habits evolve, with the company already opened city stores in malls in Delhi and Pune and plans to open a store at Delhi's DLF Avenue mall in the coming days. The company has plans to have about 20 stores total, with nearly half going towards its Ingka Centres mixed-use developments in Noida and Gurugram. Additionally, IKEA is present in over 80 markets through the e-commerce route and is expanding digitally into cities where it does not yet have brick-and-mortar presence, including Chandigarh, Jaipur and Lucknow.
According to PTI, IKEA India aims to be profitable in the next few years and quadruple its turnover by 2030. The company currently generates around ₹2,000 crore of turnover and believes it can quadruple this to ₹8,000 crore by 2030. Antoni confirmed that "We are around ₹2,000 crore of turnover today. We believe we can quadruple this by 2030. ₹8,000 crore is the ambition." The company is "growing at a healthy double-digit rate" and expects both offline and online channels to contribute significantly to this growth. Online sales currently account for around 30% of IKEA's revenue in India, with the company actively pursuing AI-driven commerce opportunities. As per Mint, the retailer is targeting profitability in the country by fiscal 2028. The home furniture market was valued at $17.05 billion (about ₹1.47 trillion) in 2025 and is projected to grow to $34.24 billion by 2034, a CAGR of 7.66% according to IMARC Group.
As reported by PTI, IKEA is preparing for a major expansion in its workforce, with employee strength expected to double by the end of the decade. The company currently employs about 2,500 people and is looking to add another 2,500 colleagues by 2030. Antoni confirmed that "We have about 2,500 employees at the moment. But we're looking at doubling that until 2030, which means another 2,500 colleagues will come in." The retailer aims to double its sourcing volumes from India over the next three to four years, driven by higher exports as well as increased domestic demand with store expansion. In 2013, the government approved a ₹10,500 crore FDI proposal by IKEA to set up 10 stores with allied infrastructure in 10 years. According to Mint, the company aims to nearly double local sourcing to 50% from 30% currently. India already exports around €400 million, or roughly ₹4,000 crore, in products annually to the retailer's global network through more than 40 suppliers, while importing ₹800 crore worth of products here. The expansion will require a much larger workforce and will strengthen India's role in the global supply chain while making products more affordable for domestic consumers over time.
