Govt says Ikea can sell food, but only in-store - Daily News & Analysis

You can now savour Ikea's famed meatballs and soups even in India, but only in its in-store cafes or restaurants. The Foreign Investment Promotion Board (FIPB) on Monday allowed the Swedish company – the world's biggest furniture retailer, which plans to invest `10,500 crore in India – to set up restaurants or cafes in its retail stores, but said it cannot vend food items beyond the eating area. "The proposal has been recommended by FIPB to the extent that Ikea can have a restaurant/cafe in accordance with their global model but cannot engage in retailing of food items," said Anand Sharma, commerce minister. He did not say whether the company will get to sell the other items the government had allowed it to sell in the country earlier. In November last year, FIPB had banned Ikea from selling 18 out of the 30 items the company had sought clearance for. Among the products denied licence were textiles, consumer electronics, cosmetics, decorative and lifestyle products, stationery, gift items, leather products, books, toys, food and beverages. FIPB's silence on the other 17 items gives some the reason to assume the government has now allowed Ikea to retail these in the country – all except food and beverages, as it were. "Since the commerce minister has only raised objections to selling food items, it is implied that the earlier ban imposed on selling other items has been withdrawn and now it's only restricted to food," said Arvind Singhal, chairman of Technopak Advisors, a retail consultancy. Harminder Sahani of Wazir Advsiors, another retail consultancy, concurred. "After the minister's comment in Parliament on Monday, it is absolutely clear now that the objection is limited only to food." via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEMJGlWdzXM_0bAyCesOPzQvXevIw&url=http://www.dnaindia.com/money/1825865/report-govt-says-ikea-can-sell-food-but-only-in-store

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