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Companies

Ikea set to invest more than $1.5bn in India and plans 25 stores

First location in Hyderabad aims to crack country's growing consumer market

HYDERABAD, India -- Ikea, the world's largest furniture retailer, sees huge potential in Asia's third-largest economy as it enters the Indian market with a store that targets middle- and low-income consumers eager for fresh designs.

Thursday's opening here, originally scheduled for July 19, comes six years after the Swedish company announced ambitious long-term plans for 25 stores at a cost of 105 billion rupees ($1.53 billion).

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