IKEA to raise its India sourcing to 50% from 30%

Stockholm: Swedish major IKEA will raise its sourcing from India to 50% from 30% now, Benjamin Dausa, Sweden's minister for international development cooperation and foreign trade said Wednesday. He called upon both India and the European Union to forge a trade agreement that focuses not just on tariff barriers but also on non-tariff barriers.

Addressing a joint session of industry leaders from India and Sweden, Dausa said India can become an increasingly "trusted manufacturing" and the prospect of a trade deal between the European Union and India represents an incredible opportunity.

In an "unstable world" both are partners who will complement each other and be resilient together, he said at a session jointly organised by CII and Confederation of Swedish Enterprises in Stockholm.


"IKEA has communicated their ambition to amplify sourcing locally from India to 50% for its global operations, from the current 30%," Dausa said, citing the company's example to highlight the importance of the Indian market for Swedish companies. The Swedish furniture company entered in India in 2018.