IKEA plans its first shopping mall in India with ₹5,500cr investment in Noida

Ingka Group, the parent company of Swedish home furniture giant IKEA, has signed a memorandum with Uttar Pradesh government, sealing an investment deal of ₹5,500 crore in Noida. The company plans to develop a shopping mall, which will be its first in India, along with hotel, offices and retail areas on a 48,000-square-metre land, Noida authority said in a statement.