Summary:
Bengaluru: Swedish furniture, kitchen appliances and home accessories retailer IKEA would invest Rs 2,000 crore in setting up and expanding its store in this tech hub in 2020, a top official said on Thursday. “As Karnataka is a priority for us, we are investing Rs 1,000 crore in setting up our popular store and another Rs 1,000 crore in expanding it later,” IKEA India Chief Executive Peter Betzel told reporters at its ground-laying ceremony in the city’s northwest suburb. The European behemoth, which opened its first store in the country at Hyderabad in August, will employ about 1,000 co-workers directly and engage 1,500 indirectly in services at the 5-lakh square feet Bengaluru store. The store will have solar panels, LED lights, rain water harvesting, water treatment plants and modern waste management systems. In addition to parking space for about 2,000 cars, the store will have a 1,000 seater restaurant serving Swedish and Indian delicacies..