First Ikea store opens in India

Ikea has opened its first store in India, bringing inexpensive Nordic- inspired furnishings and food to the world’s fastest-growing middle class. India’s middle-class market is predicted to soar 560% in value by 2030

Planned locations of Ikea stores 
New Delhi
PAKISTAN
NEPAL BHUTAN
INDIA
Ahmedabad
Surat 
Mumbai 
Pune
Bengaluru 
Chennai
Kolkata
Aug 2018: Ikea opens at Hitec City on outskirts of Hyderabad

Ikea’s debut comes as India’s homewares and home furnishings sales hit US$12.9 billion in 2017

Top 10 middle-class spending nations ($ trillions*) 

2015        2030
U.S. 4.7    China  14.3 
China 4.2   India  10.7
Japan 2.1   U.S.    4.7
India 1.9   2.4 Indonesia
1.5 Russia  2.1 Japan
1.5 Germany 1.6 Russia
1.2 Brazil  1.5 Germany
1.1 UK      1.3 Mexico
1.1 France  1.3 Brazil
0.9 Italy   1.2 UK
            
Top 10 total, 2015
$20.2 trillion
Total, 2030  $41.1 trillion


*Adjusted to 2011 purchasing power parity (PPP) prices. $1 trillion = $1,000,000,000,000


Source: Homi Kharas, Brookings Institution 2017 Picture: Getty Images © GRAPHIC NEWS