Ikea Applies to Invest Almost $2 Billion in India

Minister rallies behind Swedish chain's

A dispute over sourcing regulations is clouding plans by Sweden's IKEA to open 25 of its trademark blue-and-yellow stores in India as it seeks new markets for its flat-pack furnishings.IKEA last month asked India for permission to launch retail operations there, promising to invest $1.9 billion over the coming years -- part of a broader push into emerging markets including China and Russia.

NEW DELHI/STOCKHOLM (Reuters) - India has rebuffed a request by IKEA to relax rules on buying goods locally, a government source said on Friday, raising the prospect of a delay in the world's largest furniture maker entering the Indian retail market, IKEA, famous for its self-build flatpacks and huge stores, said last month it would invest 1.5 billion euros ($1.86 billion) and open 25 outlets, throwing a lifeline to the government in India where economic growth has slowed sharply. ...

India's foreign investment promotion agency has cleared Swedish furniture giant IKEA Group's proposal to invest nearly $2.0 billion for setting up wholly owned retail stores in the country.

NEW DELHI (Reuters) - Coca-Cola Co , the world's largest soft-drinks maker, plans to invest $5 billion in India by 2020, Chairman Muhtar Kent said in the Indian capital on Tuesday. Last November, the company had said it plans to invest $2 billion in India over the next five years to expand its non-alcoholic, ready-to-drink business in India. (Reporting by Anurag Kotoky)