Ingka Centres lines up Rs 5,500 cr in India

New Delhi: Ingka Centres, a part of Ingka Group that operates IKEA retail, will invest 607 million euros (Rs5,500 cr) to set up its second meeting place in India at Noida under the Lykli brand, taking its overall investment in the country to a 1 billion euros, according to the company’s Global Expansion & Development Director Sebastian Hylving.

It is betting big on the Indian market and is looking at expanding where IKEA plans to open its outlets in the country, although the opening of its first meeting place in Gurugram -- Lykli Gurugram -- has been pushed to 2026 from the originally planned opening in late 2025.