12 August 2016 Current Affairs: Ikea, a global leader in retail furniture, will lay the foundation stone here next month for its first store in India that will open next year.
Ikea is performing ground-breaking and laying of foundation stone for its first Indian store on August 11. After completion of the construction, the outlet is expected to open somewhere in July-August next year .
According to the official, the Swedish firm is planning to build a 400,000 square foot store here, which will also include a 1,000-seater restaurant serving Swedish cuisine, besides Indian and others.
Ikea India's CEO Juvencio Maeztu along with other senior officials of the company are expected to attend the event .
kea had earlier said it has purchased 13 acres of land parcel to build retail store .
The site is close to the IT hub in Hyderabad's HITEC city, and within easy access to public transport and next to an upcoming Metro line.