Budget 2024: Digital infra push to drive innovation: IKEA India CEO

As industry leaders expect a higher push to infrastructure spending in the upcoming budget scheduled to be announced on July 23, 2024, IKEA India’s CEO and Chief Sustainability Officer Sussanne Pulverer shares what the furniture retail company in India expects particularly in prioritising expenditure in key areas that will drive quality and innovation in the industry. According to Statista, in 2024, the Furniture market in India is projected to generate a revenue of $5.48 billion. The country’s furniture market is experiencing a surge because of the growing middle class and increasing urbanisation.

Pulverer says “We look forward to the continued rapid expansion of infrastructure, particularly digital infrastructure, across the country. Additionally, we aim to deepen the Make in India initiative to help us cater to both domestic and export markets, and advocate for provisions that promote sustainable practices, including incentives for eco-friendly materials and green manufacturing.”

“Lastly, initiatives aimed at increasing consumer income will boost purchasing power and stimulate demand,” she adds.