IKEA wins board approval for India plan

01/21/2013 | Wall Street Journal, The

India's Foreign investment Promotion Board has approved IKEA's plan to open up to 25 wholly owned stores across the country in the next 15 or 20 years, a nod that's likely to sway the Cabinet and win the retailer the final approval it needs to move forward. "This will create confidence among global investors that India has a positive environment for investors," said Trade Minister Anand Sharma.

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