After announcing its plan to create 10,000 jobs (5000 direct & 5000 indirect) in Maharashtra and its plan to begin operation in Mumbai in 2019, the Swedish home furnishing retailer IKEA has now shared its plan to expand in UP, with its first store in Noida.
In 2015, IKEA had signed a MoU with the Samajwadi Party government to set up a store each in Lucknow, Agra and Noida with an investment of approximately Rs 500 crore in each.
The first store in Noida will require an investment of Rs. 1,000 crore and will employ 1,000 co-workers directly and another 1,000 indirectly across the value chain.
Overall, there will be jobs will be created for more than 4,000 co-workers directly and 4,000 jobs indirectly, shared IKEA India’s CEO, Peter Betzel.
IKEA is famous for its good employee policies and as it looks to expand in India, after the success of the first store in Hyderabad, it creates more opportunities stirring the demand for talent in the retail sector. To provide unique opportunities for its co-workers to grow at work, IKEA has employee friendly policies such as daycare facilities (DAGIS), parental leave policy, transport policy, competence development, mentoring, pension plan etc. Further, IKEA’s commitment to its co-workers is not only limited to its direct and indirect workers but also extends to the local supplier ecosystem that focusses on better wages and working conditions for supplier’s co-workers.
Even the long-term intent for UP extends to IKEA looking to develop retail and commercial parks that will comprise shopping centres, offices and integrated commercial projects which could be owned either by IKEA's holding company or independent developers.