Mumbai: According to the PTI report, one of the world's leading furniture retailers Ikea is looking at the next round of investment in India after exhausting its commitment of 10500 crore when it entered the country 10 years back according to a statement made by the company's India CEO Susanne Pulverer.

The company started its retail operations in India with the store opening in Hyderabad in August 2018. The company is planning to set up new projects in Delhi NCR in 2025 and will complete its investment in 10 years.

"This first investment that we committed is booked with the projects in NCR. So with that, we have exhausted the ₹10,500 crore and we are looking at the next level of investment to further build IKEA's presence in India, expand volumes, and increase sourcing. So that is in the plan making and we will announce more when we are ready.The plans are being formulated, and we will make announcements when ready," Pulverer told PTI.

In 2013, the government approved a Rs 10500 crore FDI ( Foreign Direct Investment) proposal by Ikea to set up new stores with allied infrastructure in these 10 years. Currently, 100 per cent FDI is permissible in retail trading.

Ikea currently has stores in Hyderabad, Mumbai, and Bengaluru.