IKEA looks forward to National Retail Policy (NRP) rollout

17 January 2022, Mumbai:

Swedish furniture and home furnishing retailer IKEA is looking forward to the rollout of India's national retail policy that will bring offline and online retail into a single policy framework and reduce the compliance burden. Preet Dhupar, CFO, IKEA India says, the Indian government should introduce custom duties on raw materials and intermediaries to make Indian furniture competitive.

She emphasizes Indian retail sector has the potential to attract more FDI. To achieve this, the time to set off and carry forward losses and interest beyond 8 years should be increased, he recommends. He also urges group companies to engage in tax consolidation to simplify operations. They should also ensure tax optimization and reduce litigations, she adds

Dhupar further calls for removal of loss of GST on spends. She expects the upcoming budget to stimulate growth by triggering private consumption, supporting manufacturing and exports, promoting funds towards infrastructure related capital expenditure and focusing on the spending in public health and healthcare.

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