Karnataka hopeful of IKEA investment

Our Bureau Bangalore | Updated on November 29, 2017 Published on July 02, 2014

Harald Sandberg, Ambassador of Sweden to India, with Maheshwar Rao, Commissioner, Industries and Commerce, Karnataka, in Bangalore on Tuesday. GRN SOMASHEKAR

Karnataka is pitching for major investments by IKEA, the furniture giant from Sweden.

The Chief Minister Siddaramaiah who met Harald Sandberg, Ambassador of Sweden to India, said, “IKEA got approval of the Government for its ₹10,500-crore investment. Now, I am hopeful that the company will make major investment in Karnataka.”

“We look forward to the company’s formal application. We will look into it positively,” he added.

The Chief Minister told the Ambassador that Karnataka has good and healthy relationship with Sweden. “For many years, companies like ABB, SKF, AstraZeneca, Hennes and Mauratz, Volvo Trucks, and more recently Sacania have chosen Bangalore over other places to commence their business in India.”

“In the mid and small segment Autolive, Partex, Envic, Comsol, Indpro are doing well in Karnataka,” he added.

Later, the Chief Minister, addressing reporters, said, “The Swedish Ambassador met me this afternoon. He briefed me on the country’s expertise in waste management, urban transport and is also exploring import of waste. The Ambassador also has invited us (State government) to visit Sweden on August 17-21 mainly to study various models of waste management, urban transport in that country.”

Siddamaraiah said the State Government has invited Sweden to the Global Investors Meet (GIM) to be organised in February 2015.

K Ratna Prabha, Karnataka Additional Chief Secretary, Commerce and Industries Department said Sacania, a Swedish auto major, which has set up a 2000-truck manufacturing facility in Narsapur, near Bangalore, is now exploring bus manufacturing facility.

“Similarly, Volvo which has truck and bus manufacturing facility in Hoskote in Bangalore, is exploring to set up car making facility in Karnataka,” she added.

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Published on July 02, 2014
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