New Delhi: Swedish furniture retailer IKEA will open its flagship store here in June. Jesper Brodin, CEO of Ingka Group of which IKEA is a part, met Karnataka Chief Minister Basavaraj Bommai at the World Economic Forum meet in Davos, Switzerland on Wednesday and discussed the backdrop of store-opening. The Ikea store (furniture) is to be inaugurated in Nagasandra here in June and Brodin invited Bommai to the event, the Chief Minister’s Office said in a statement. IKEA has its India head office in Bengaluru and during the meeting issues related to the widespread use of bamboo and other locally available raw materials in making furniture were discussed.
Industries Minister Murugesh Nirani, IT, BT Minister CN Ashwath Narayan, Additional Chief Secretary in Industries Department EV Ramana Reddy, Principal Secretary to Chief Minister N Manjunath and Commissioner in Industries Department Gunjan Krishna were present.
The company had earlier said that Bengaluru would be IKEA’s third store in the country after Mumbai and Hyderabad.
The Bengaluru store is spread over five lakh square feet, and will provide services like assembly and delivery with 800-1,000 direct workers and another 1,500 indirect, adding that the IKEA-Bangalore store is expected to attract over 7 million visitors Is. one year.
In addition, Bommai suggested Axis Bank to upgrade some engineering colleges and universities in the state as part of its Corporate Social Responsibility (CSR) programmes.
He met Amitabh Choudhary, MD & CEO, Axis Bank in Davos and discussed investment opportunities in Karnataka.
Stating that there are ample opportunities for Axis Bank to take up various projects in collaboration with the state government, Bommai suggested the bank chief to upgrade some engineering colleges and universities in the state as part of the bank’s CSR programmes.
Axis Bank is the third largest bank in India in the private sector. The bank is providing financial services for small, medium and large businesses, farmers and small traders. It has more than 4000 branches in India. It has branches in Singapore, Hong Kong, Dubai and many other countries.
The Chief Minister met with the head of Nokia, suggested that the opportunities of manufacturing telecom products in Karnataka should be utilized well.
Nokia has the largest research center in Bangalore, with over 7,000 technocrats engaged in research related to 5G, advanced 5G and 6G technologies.
Bommai also interacted with Pepe’s top executives.
Heads of major multinational corporations and prominent NRI entrepreneurs participated in the breakfast meeting organized by the Chief Minister on the sidelines of the World Economic Forum meet in Davos.
MR Rangaswamy, Founder, Indiaspora in the United States, Prakash Lohia, Chairman, Indorama Corporation in Singapore, Bharat Kaul, Managing Director, Hitachi Japan, Shamshir Valayil, President, VPS Healthcare in the United Arab Emirates, were among those who attended the meeting.
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