Global home furnishings leader, IKEA has announced a new initiative - â€˜Make More in Indiaâ€™ aimed at potential suppliers and to expand IKEAâ€™s supplier base as well as the categories of home furnishing products sourced in India. IKEA currently sources for Euro 315 million and plans to double the sourcing by 2020. It has 48 suppliers in India with 45,000 direct employees and about 400,000 people in its extended supply chain.
Sandeep Sanan, Head of Sourcing, IKEA South Asia, while speaking about the new initiative said, â€œWe believe there is tremendous potential in India. We are looking for new suppliers who share our vision and values, are willing to grow with us and become world class suppliers. We believe that many suppliers will come from other segments who are looking to diversify their business.â€
As part of the â€˜Make More in Indiaâ€™ initiative, IKEA India will conduct two seminars - in Mumbai (on 16 January and in Bangalore on 23 January, where over 100 new potential suppliers are likely to participate. The seminars will focus on enrolling new suppliers in existing categories like textiles and rugs; as well as for new home furnishing categories like furniture, mattresses, and sustainable materials like bamboo and acacia; and also growing suppliers for categories like metal, plastics, and lighting.
On commitment Sandeep further added, â€œIKEA is committed to responsible sourcing, and our history of developing successful supplier relationships in India means that IKEA is well positioned, not just to â€˜Make in Indiaâ€™ for India, but to â€˜Make More in Indiaâ€™ for IKEA worldwide. This gives the current and future new suppliers in India a much bigger market to aspire for. Our suppliers are our strategic long term partners, and we are happy to share knowledge and technologies as we want them to grow with us.â€
IKEAâ€™s â€˜Make More in Indiaâ€™ is a major initiative to speed up the process of finding the right suppliers who will partner IKEA to grow business in India. IKEA sourcing plans resonate with the Indian Prime Ministerâ€™s Make in India agenda. â€œThe IKEA Group is positive to all government initiatives that simplify and make it easier to produce in and export products from India,â€ Sandeep said.
To identify potential Indian Industry Groups who could be interested to join IKEA in the â€˜Make More in Indiaâ€™ initiative, IKEA is in contact with various government export associations and industry organizations. Sandeep Sanan further said, â€œThese groups could already be active in existing categories we sell or are willing to diversify into new categories and even set up greenfield factories to supply both in India and globally for IKEA.â€
IKEA works closely with suppliers in setting up efficient and sustainable production processes to create affordable home furnishing products with good design and quality. Together with its suppliers, it supports innovation and entrepreneurship and invests in modern manufacturing technology that helps create globally competitive capacities and set up greenfield factories.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide