Ingka Group, the owner of most IKEA stores, on Tuesday, said India is making the company better and it's learning a lot of things from the country.

Share Market Live

NSE

Speaking from the sidelines of the World Economic Forum 2023 being held at Davos, Juvencio Maeztu, chief financial officer and deputy CEO of INGKA Group said IKEA is offering 900 products for less than Rs 200 in India.

According to him, India is an example of finding solutions to transform the business and to give solutions from a low-cost point of view, especially during the times when the whole economic situation and the tension in the supply chain had put pressure on prices.

Also Read | Davos 2023 - A look at the overwhelming presence of India at the World Economic Forum

There is a significant presence of Indian companies at the World Economic Forum 2023 being held at Davos. The Davos summit gets underway as over 1,500 corporate leaders, 600 CEOs, and policymakers from across the world have congregated in the Swiss town to discuss the most pressing issues being faced by the global economy.

The theme for this year’s summit has been set as 'Cooperation in a Fragmented World'. It has convened more than 2,700 leaders from 130 countries, including 52 heads of state/government.

The World Economic Forum (WEF) had to host its last annual meeting in 2022 in May as the summit could not take place in the usual month of January due to the COVID pandemic-related restrictions. Before that, the 2021 meeting could take place online only.

Also Read | WEF Davos 2023: This year's theme and topics to be discussed

Though the pandemic is yet to be declared totally over, restrictions are far few and the war in Ukraine and the economic fallout of geopolitical as well as health crises have made the Davos meeting, often described as the biggest congregation of the global elite, very interesting.

For more, watch the accompanying video

Catch the latest stock market updates with CNBCTV18.com's blog

First Published:Jan 17, 2023 5:19 PM IST