{"id":86772,"date":"2026-01-21T00:00:00","date_gmt":"2026-01-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/mena-india\/?p=86772"},"modified":"2026-01-21T10:09:35","modified_gmt":"2026-01-21T10:09:35","slug":"ikea-expands-india-investment-india-lifts-curbs-on-wheat-product-exports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/mena-india\/2026\/01\/21\/ikea-expands-india-investment-india-lifts-curbs-on-wheat-product-exports\/","title":{"rendered":"IKEA expands India investment; India lifts curbs on wheat product exports"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, friends.<\/strong> The India-UAE corridor is buzzing with activity, with plenty of updates on trade and investments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India\u2019s competition watchdog has cleared Emirates NBD\u2019s USD 3 bn bid for private lender RBL Bank<\/strong>, paving the way for the biggest foreign acquisition of an Indian bank. If the deal goes through, ENBD will inherit RBL\u2019s branch network to secure a front-row seat in one of the world\u2019s most regulated banking markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>President Mohamed bin Zayed\u2019s New Delhi visit delivered a host of deals across energy, defence, tech, and food security<\/strong>, and the two countries doubled their trade target to USD 200 bn. Adnoc did the heavy lifting, turning a handshake LNG pact into a binding long-term supply deal.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over in Saudi Arabia, India\u2019s major tech firms are making strategic inroads<\/strong>, with Tata Group\u2019s tech arm opening its regional HQ and Unicommerce partnering with Naqel Express. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">We have all of that and more, below.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>INVESTMENT \u2014 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ikea.com\/in\/en\/\" style=\"\" rel=\"noopener\">IKEA<\/a><\/strong><strong> plans to raise its India investments to over INR 200 bn (USD 2.2 bn) over the next five years<\/strong>, with plans to open new stores and source products locally, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/swedens-ikea-plans-double-india-investment-22-billion-over-five-years-2026-01-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing IKEA India CEO Patrik Antoni. India is a major sourcing base for the retailer's major global markets, including its store network in the UAE and Saudi Arabia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India playbook: <\/strong>Ahead of launching new physical stores, IKEA will extend online sales to four cities including Chennai and Coimbatore \u2014 the first time the retail giant will enter new markets digitally before establishing a physical presence. It also plans to double production and exports from India to about USD 930 mn.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>EXPORTS \u2014<\/strong> <strong>India<\/strong><strong> has approved the export of 500k tons of wheat flour, semolina, and related products<\/strong>, in the first significant easing of its grain export ban in over three years, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/1\/750.pdf\" style=\"\" rel=\"noopener\">notification<\/a> by the Ministry of Commerce. This comes amid a record-breaking <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-20\/india-allows-some-exports-of-wheat-products-after-three-year-ban\" style=\"\" rel=\"noopener\">monsoon<\/a> that replenished domestic stockpiles.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is a major win for food suppliers<\/strong> <strong>in the UAE<\/strong>, the country being India\u2019s <a target=\"_blank\" href=\"https:\/\/icrier.org\/pdf\/Enhancing-India-s-Agri-Exports-to-Middle-East.pdf\" style=\"\" rel=\"noopener\">second-largest importer<\/a> of agricultural products in FY 2022-23. Wheat and rice have historically been the bedrock of this trade corridor. Since the May 2022 ban, UAE millers and processors have had to navigate higher-cost alternatives such as Black Sea grain. Reopening this channel restores the primary supply chain for one of India\u2019s most critical regional trade partners. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A market test?<\/strong> If the upcoming spring harvest hits projected targets, New Delhi can be expected to move towards a more predictable export regime for raw wheat by 2H 2026, further solidifying the India-UAE CEPA trade targets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>GDP \u2014<\/strong><strong>The<\/strong><strong> IMF has raised its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.imf.org\/-\/media\/files\/publications\/weo\/2026\/january\/english\/text.pdf\" style=\"\" rel=\"noopener\">India growth forecast<\/a><\/strong><strong> for FY 2025-26 (ending on 31 March) by 70 basis points to 7.3%<\/strong>, citing \u201cbetter-than-expected\u201d data from 3Q and strong momentum closing out the financial year. For Gulf investors, the upgrade reflects real growth in India and encourages deploying capital in the country. India is solidifying its position as the fastest-growing major economy and is likely to offer higher yields as Western markets cool.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The upgrade brings the IMF forecast in line with the Reserve Bank of India\u2019s 7.3%<\/strong> projection and nearly matches the government\u2019s 7.4% estimate. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">YOU\u2019RE READING EnterpriseAM MENA <> India, your C-suite briefing on the movement of trade, investment, people, and ideas along one of the world\u2019s most exciting corridors. Every Monday, Wednesday, and Friday at 2:30 pm UAE, we dive deep into the business, finance, economy, and policy headlines and trendlines that will move markets and set the tone for your day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this briefing? <\/strong><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/mena-india\/\" style=\"\" rel=\"noopener\">Tap or click here to sign up without charge for your own<\/a><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/mena-india\/\" style=\"\" rel=\"noopener\">copy.<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> The big story abroad<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is \u201cSell America\u201d back? <\/strong>A massive selloff hit Wall Street last night, as US President Donald Trump stood his ground on plans to take over Greenland despite European opposition. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All three Wall Street indices fell to their lowest since October<\/strong>, with the S&P 500 down 2.1%. At the same time: The USD slid 0.9% against a basket of six peers, gold surged to a record high, and long-term US yields hit a four-month high. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, a historic rout in Japanese bonds<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/68349aa9-9b4e-44a2-abd4-f1964308cf29\" style=\"\" rel=\"noopener\">sent yields above 4%<\/a><\/strong> for the first time ever on concerns over the country\u2019s fiscal health, after Prime Minister Sanae Takaichi called for a snap election which could hand her a mandate to pursue stimulus plans, including the removal of a food sales tax. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adding fuel to the fire: <\/strong>Danish pension fund AkademikerPension said it will <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-20\/danish-pension-fund-akademikerpension-to-exit-us-treasuries\" style=\"\" rel=\"noopener\">exit<\/a> US Treasuries by the end of the month on the back of concerns that the current administration has created too many credit risks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to watch:<\/strong> Trump will be landing in Davos today, where he is set to schedule a few meetings to discuss Greenland. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Netflix is tightening its screws in the Warner Bros takeover race: <\/strong>The streamer is converting its bid for Warner Bros. Discovery into an allcash offer, matching one key advantage offered by Paramount Skydance\u2019s Gulf-backed bid, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-20\/netflix-sweetens-warner-bros-terms-to-all-cash-in-bidding-war\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing a filing. Netflix had previously proposed USD 27.75 per share using a mix of banknotes and stock for Warner\u2019s studio and streaming assets. Investors are set to vote on the transaction in April. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> Market watch<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian<\/strong><strong> refiners are ditching Murban:<\/strong> Abu Dhabi\u2019s flagship crude has lost its edge as cheaper alternatives gain ground across the Asian slate, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-19\/oil-refiners-shun-uae-s-flagship-murban-for-cheaper-alternatives\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing traders. Murban\u2019s premium over Dubai crude hit USD 2.24 \/ bbl, more than 2x its end\u20112025 level, pushing refiners toward cheaper barrels. Upper Zakum, the UAE\u2019s medium-sour grade, was priced at a mere USD 0.10 premium over Dubai after trading at a markdown for most of the past two weeks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why the change? <\/strong>This comes as Saudi Arabia ramps up medium-sour supply faster than peers, and refiners in Japan, South Korea, and India lean into Arab Medium and Arab Heavy, alongside Upper Zakum and Qatar\u2019s Al Shaheen, traders said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> Circle your calendar<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plus: IMF raises FY 2026 growth forecast to 7.3%<\/p>\n","protected":false},"author":1,"featured_media":86773,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2403],"tags":[2402,2741,2399,2630,2622,2646,2441,2401],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam-india","tag-foreign-investment","tag-gdp","tag-imf","tag-india-uae","tag-indian-economy","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"e6dab2d6-cb4a-422b-a0f3-aa93134e76ce","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2026\/1\/821.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS AFTERNOON: IKEA commits fresh capital to India; India eases grain export curbs","related_issue":[86770],"teaser":"Plus: IMF raises FY 2026 growth forecast to 7.3%"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>IKEA expands India investment; India lifts curbs on wheat product exports - MENA India Corridors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/01\/21\/ikea-expands-india-investment-india-lifts-curbs-on-wheat-product-exports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IKEA expands India investment; India lifts curbs on wheat product exports\" \/>\n<meta property=\"og:description\" content=\"Plus: IMF raises FY 2026 growth forecast to 7.3%\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/mena-india\/2026\/01\/21\/ikea-expands-india-investment-india-lifts-curbs-on-wheat-product-exports\/\" \/>\n<meta property=\"og:site_name\" content=\"MENA India Corridors\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-21T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-21T10:09:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/821.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/mena-india\/2026\/01\/21\/ikea-expands-india-investment-india-lifts-curbs-on-wheat-product-exports\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/mena-india\/2026\/01\/21\/ikea-expands-india-investment-india-lifts-curbs-on-wheat-product-exports\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/mena-india\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"IKEA expands India investment; 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