New Delhi, Nov. 28 -- Swedish home furnishing major IKEA is accelerating its India expansion with plans to open four to five stores every year, a sharp rise compared to the six outlets launched in its first seven years of operations.

CEO Patrik Antoni said IKEA has strengthened its product range, customised offerings for Indian consumers, and built a strong logistics base in major cities. These steps have enabled the company to keep prices competitive and serve targeted customer segments more effectively.

IKEA's sourcing operations in India remain significantly larger than its retail business, but the company sees strong long-term potential driven by India's young population and rapid urban migration into metros.

"We now have a solid b...