Swedish retail major Ikea on Thursday said that it plans to double its sourcing from Indian suppliers over the next five years.
Swedish retail major Ikea on Thursday said that it plans to double its sourcing from Indian suppliers over the next five years.
The company currently procures materials worth 300 million euros per annum.
“We source materials like textiles, carpets and plastics among others from about 50 suppliers in India. We want to double our sourcing from India in next five years besides expanding our supplier base,” said Patrik Antoni, country communication manager at the Make In India Week.
He further added that his company also wanted to tie-up with home appliances manufacturers in India, but is unable to find a suitable partner as the domestic industry is highly fragmented.
“The home appliances market in India is huge, but the industry is highly fragmented. Most of the entities in this segment are small manufacturers without any mass production,” he said.
