Telangana is focusing on the retail segment and is creating an ecosystem which is most suitable for retail biggies to set up shop. Hyderabad, in particular, is seeing a surge in both global and national retail players investing heavily. In a series of activities that the city is witnessing, Hyderabad is now creating history to host the first Ikea store in India that will begin operations on Thursday. The Telangana government is not only providing suitable land for these massive retail projects but is also revising labour policies to make the proposition attractive for retail companies to choose Hyderabad, Telangana principal secretary, Industries Department, Jayesh Ranjan said.
Sharing the developments in the sector, Ranjan told Telangana Today, “We have a pipeline of companies who are going to make investments in the near future. UAE-based retail company Danube, which has a strong presence in furnishing in the Middle East, is going to set up its first India store in Hyderabad. They were scouting for a suitable location in India. We met Rizwan Sajan, founder chairman of Danube Group and pursued to establish this store. They are taking built up space for their store and it will open in September.”
Global retail giants are looking at Hyderabad. Walmart is planning to set up ten stores in Telangana. The company has signed an MoU with the State government for these stores.
Walmart India chief corporate affairs officer Rajneesh Kumar, said, “We are creating about 2,000 jobs through each of our stores directly and indirectly. We are sourcing 95 per cent locally from suppliers, including small manufacturers and farmers. Work is in progress to create the stores we had proposed.”
Ranjan informed, “Metro Cash & Carry is also planning to come out with a series of fresh stores in Telangana.”
Ikea to open today
Swedish home furnishings retailer Ikea will open its Hyderabad store on Thursday, marking the entry of the company into India. The store, spread over 4,00,000 sq ft in more than 13 acres will offer 7,500 products. The Ikea store employs 950 co-workers in Hyderabad and about 1,500 indirectly. The store expects to host about seven million visitors each year. The Rs 1,000 crore store will sell 1,000 products that are made in India. And 20 per cent of the products are locally sourced. The store also houses a 1,000-seater restaurant, Ikea’s largest such restaurant anywhere in the world.