Hyderabad: The Telangana government is offering a special industrial zone for future IKEA suppliers and will also extend loans and as well as subsidies. Speaking on the sidelines of ‘Make More in India’ seminar organised by IKEA, Jayesh Ranjan, commissioner of industries, commerce and export promotion, Telangana said, “We believe IKEA will create the demand for local entrepreneurs to invest in modern technologies, innovation, skill development and develop globally competitive manufacturing capacities in Telengana.”
The home furnishings conglomerate presently sources for $370 million from India, and plans to double its sourcing by 2020. Today, it works with around 50 suppliers in India engaging approximately 400,000 co-workers in India directly and indirectly.
The ‘Make More in India’ seminar aimed at identifying potential suppliers in Telangana in categories such as sofas, book shelves and mattresses as well as products made in new sustainable materials such as bamboo, mango, jute and other natural fibres. Over 80 local suppliers attended the meet jointly organised by the state.
