MUMBAI, Jan 21 (Reuters) - India's foreign investment panel
has approved Swedish retailer IKEA's 100 billion rupee
($1.86 billion) plan to set up shop in the country, India's
trade minister said in a statement late on Monday.
India's finance ministry had previously ruled that the
world's largest furniture maker would not be allowed to sell
items such as food, textile products and office supplies, as it
does in other markets.
However, the company had resubmitted its investment proposal
and a government source with direct knowledge of the matter told
Reuters on Monday that the Swedish retailer's investment plan
had been approved in its entirety.
$1 = 53.8150 Indian rupees)
(Reporting by Rajesh Kumar Singh; Editing by Tony Munroe)