IKEA India plans to quadruple turnover to ₹8,000 crore by 2030, combining new store formats with digital and business sales as the retailer seeks a wider presence across the country.
IKEA India CEO Patrik Antoni told PTI in July 2026 that the target is nearly four times the company’s turnover of about ₹2,000 crore at the time. He said IKEA expects to more than double its investment in India, taking it above ₹21,000 crore by 2030.
Ingka Group, IKEA’s largest retailer, announced a five-year nationwide program for 25 locations in smaller and mid-size formats, which it expects to create hundreds of jobs. The group also said larger outlets are being built at IKEA-owned shopping centers outside New Delhi, with the Gurugram project expected to open ahead of Noida. Antoni separately told PTI that IKEA India expects about 30 stores by 2030. Ingka’s announcement gave no overall store total, and Antoni did not specify whether the 25 planned outlets are part of that goal.
Separately, Business Standard reported that IKEA’s priority markets are Delhi-National Capital Region, Mumbai, Hyderabad, Bengaluru, Chennai and Pune.
Online sales contribute about 30% of IKEA India’s revenue, Antoni told PTI. Adosh Sharma, IKEA India’s chief commercial officer, told Mint that sales to business customers had recorded double-digit growth over the previous two to three years.
Javier Quiñones, Ingka Group’s global commercial manager, said the value of India’s home-furnishing market is expected to increase by 50% by 2030. Ingka said the Pune store that opened March 12, 2026, was IKEA’s sixth in India; by then, it had invested more than €900 million in the country.
IKEA said sales reached ₹1,860.8 crore from September 2024 through August 2025, a 6% increase, in a statement carried by PTI. Business Standard reported that a separate IKEA filing for the year ended March 31, 2025, showed operating revenue of ₹1,749.5 crore, down 3.3%, and a loss of ₹1,325.2 crore. The figures cover different reporting periods.
IKEA said its second Bengaluru store, in South Bengaluru, is scheduled to open Thursday, Nov. 5. The 80,000-square-foot location will stock more than 5,200 products, including over 3,000 available for immediate takeaway, and include a 100-seat restaurant.
