NEW DELHI: Swedish multinational and world's leading home furnishing retailer IKEA isn't just looking at India as a market for its products. The Swedish major, which is looking to kick off its India retail operations with as many as four stores, became the first multinational to put down money to reduce carbon pollution. Over the next five years, IKEA will spend a total of 1 billion to cut down carbon pollution and slow down the rate of global warming by investing in renewable — wind turbines and solar — energy.
NEW DELHI: Swedish multinational and world's leading home furnishing retailer, IKEA, isn't just looking at India as a market for its products. The Swedish major, which is looking to kick off its India retail operations with as many as four stores became the first multinational to put down money to reduce carbon pollution. Over the next five years, IKEA will spend a total of 1 billion euros to cut down carbon pollution and slow down the rate of global warming by investing in renewable --wind turbines and solar - energy.
NEW DELHI:The next round of foreign direct investment reforms is aimed at boosting capital inflows, promoting the 'Make in India' programme and securing infrastructure funding. The Department of Industrial Policy & Promotion, the nodal agency incharge of foreign investment, has sought cabinet approval for four proposals, including treatment of non-repatriable investments by non-resident Indians on a par with domestic funding and hiking the proposal limit requiring cabinet approval to Rs 3,000 crore from Rs 1,200 crore currently.
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: The AP Shah committee on minimum alternate tax (MAT) has recommended to the finance ministry that the levy shouldn't be imposed for the period preceding April 1, 2015, and the government is considering the proposal "favourably", a senior government official said. If this view is accepted, it would mean a significant relief for foreign investors facing several years of levies on capital gains made by them and the resolution of a knotty problem for the government.
NEW DELHI: Iranian President Hassan Rouhani has asked India to invest in infrastructure projects worth $8 billion, including an expanded role in developing a strategic port that will open up access to Central Asia, Iran's envoy to New Delhi said on Friday. The port of Chabahar in southeast Iran is central to India's efforts to circumvent arch-rival Pakistan and open up a route to landlocked Afghanistan where it has developed close security ties and economic interests.
STOCKHOLM, Sweden — Swedish flat-pack furniture giant IKEA will start selling residential solar panels at its stores in Britain, the first step in its plan to bring renewable energy to the mainstream market worldwide.
The company started selling solar panels made by China’s Hanergy in its store in Southampton on Monday. It will sell them in the rest of Britain in coming months, it said.