INSUBCONTINENT EXCLUSIVE:
The mall in Gurugram is expected to be operational in 2025The malls division of Swedish furniture giant IKEA will invest around Rs 70,00
world's biggest, said it was building two centres - malls that are anchored by its stores - in Gurugram and NOIDA, two large cities on the
periphery of the national capital."Beyond the investments that are happening in retail, there are two centres that we are planning and they
are around Rs 7,000 crores," Peter Betzel, CEO of IKEA's India business told Reuters in an interview.The mall in Gurugram, which will
house office space beside an IKEA store is expected to be operational in 2025, Managing Director of Ingka Centers, Cindy Andersen told
Reuters last month.Ingka Centres is owned by Ingka Group which also owns most IKEA stores worldwide.The company, which opened its first
store in India in 2018, will open the doors to its first city store in Mumbai on Thursday, the first of its kind in the country
located in the business district of South-central Mumbai, the store has a selection of the company's vast inventory of home
products.Betzel said the company was not planning to increase prices in India but was looking for more local suppliers to reduce input
