Swedish furniture maker Ikea to build suppliers park in Telangana.

The BJP government at the Centre is said to be considering unshackling foreign investment in single-brand retail by removing a clause that makes sourcing nearly one-third of the products within the country mandatory.

The Swedish giant, that sourced $450 million(Rs. 2,700 crore) worth of goods from India last year, is looking at building one of India's largest suppliers' park to boost local sourcing.

According to a senior bureaucrat in the union commerce ministry, the proposed Ikea supplier's park -whose location has not been finalised - could be the single largest sourcing point for the furniture giant for both domestic consumption and exports.


ET