Davos 2026 | IKEA 'emotionally biased' towards India, sees long-term growth: Ingka CEO

Speaking to CNBC-TV18 at the World Economic Forum in Davos, Ingka Group CEO Jesper Brodin Maeztu said IKEA remains firmly committed to India as a long-term growth market, describing himself as “emotionally

biassed” towards the country.

“I am not objective, and India is deepening our heart, my family and myself,” he said, adding that IKEA has built a “decent physical footprint” and has now begun operating online in select cities in Tamil Nadu.

Maeztu said companies must navigate short-term uncertainty without losing long-term consistency, particularly in a volatile global environment. “You can panic in the short term, but it’s very important to zoom out and see the long term,” he said, stressing that IKEA’s supply chain is designed to support affordability over time.

India, he said, is entering a new phase for IKEA, with a focus on sustainable growth driven by both retail expansion and deeper integration with local suppliers. The company is working closely with Indian suppliers to prepare them for future growth and to connect them with IKEA’s global supply chain.

“We are working with many suppliers in India to prepare the development,” Maeztu said, adding that quality control orders and higher standards would help Indian suppliers scale globally. He noted that India currently accounts for only about 1% of global furniture production, a figure he believes should rise.

Maeztu said IKEA exports from India have crossed €400 million annually, moving beyond textiles into furniture and other categories, calling this “just the beginning."

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On the India growth narrative, he cautioned against viewing the country purely through the lens of volume. “The India story isn’t just about quantity,” he said. “India should be a worldwide example for how sustainability and affordability come together.”

He added that IKEA’s outlook for India is rooted in decades, not years. “IKEA will still be there,” he said. “Probably you and me will not, but IKEA will still be there.”

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