House furnishing company, IKEA India has signed a memorandum of understanding (MoU) with the Chief Minister Yogi Adityanath led Uttar Pradesh government according to which it will invest more than Rs 5000 crore in the state over the coming years. Significantly, the Sweden based company, which opened its first store in India earlier this year, aims to create over 8000 jobs in Uttar Pradesh. Peter Betzel, CEO, IKEA India, said that Uttar Pradesh is an important market for him and the company is currently in talks with the Yogi Adityanath government to facilitate its expansion plans in the state.

Publication: Zee Business (Online)

Date: December 21, 2018