04 June,2026 07:42 PM IST | Mumbai | mid-day online correspondent
A key highlight of the meeting was IKEA`s collaboration with local artisans and craft communities. Pic/X
The Chief Executive Officer (CEO) of IKEA India, Patrik Antoni, on Thursday met Maharashtra CM Devendra Fadnavis at his official residence in Mumbai to discuss the company's expansion plans and future investments in the state, officials said.
The meeting focused on IKEA India's growing presence in Maharashtra and opportunities for large-scale investment in the coming years.
In an post on X, CM Fadnavis wrote that during the interaction, both sides discussed IKEA's ongoing expansion strategy and its plans to strengthen operations across Maharashtra.
The discussions also explored the potential for further investments that could contribute to economic growth, job creation and the development of the retail sector in the state.
Maharashtra continues to be an important market for IKEA as the company expands its footprint in India.
A key highlight of the meeting was IKEA's collaboration with local artisans and craft communities.
The company's efforts to work closely with skilled craftsmen and promote locally produced goods were appreciated during the discussions.
Such partnerships are seen as helping preserve traditional craftsmanship while creating new economic opportunities for local communities.
Officials believe that collaborations of this nature can boost manufacturing, support small businesses and contribute to Maharashtra's broader economic development goals.
Meanwhile, last month, Maharashtra Chief Minister Devendra Fadnavis had said that the state's economy is expected to surpass those of Singapore and the UAE within the next two to three years, driven by rapid progress in innovation, artificial intelligence, startups and infrastructure development, reported the PTI.
Speaking at the ImagiNxt 2026 held at the Jio World Centre in Mumbai, Fadnavis said Maharashtra has already emerged as the world's 30th largest economy.
Fadnavis said Maharashtra is no longer competing with other Indian states due to its scale of economic growth.
"Maharashtra is currently a USD 660 billion economy and is the closest Indian state to achieving the target of becoming a USD 1 trillion economy," he said, the news agency reported.
According to the chief minister, the state's economy has expanded from nearly Rs 14 lakh crore in 2015 to Rs 54 lakh crore at present, recording more than three-fold growth over the past decade.
The chief minister highlighted the growing role of technology and artificial intelligence in Maharashtra's development strategy.
He said the state government has established a dedicated AI department and commissionerate to promote the use of artificial intelligence in governance, industry and public services.
CM Fadnavis stated that AI-based systems are already being used in the criminal justice process, including crime scene investigation and digital filing of charge sheets through blockchain-enabled systems.
Fadnavis said Maharashtra has become India's leading state in startups, unicorn companies, research and innovation.
He added that the government has prepared a long-term "Viksit Maharashtra 2047" roadmap with separate development targets for 2030, 2035 and 2047.
To monitor progress, the state has set up a dedicated Vision Management Unit and created around 2,000 performance data points across government departments.
The chief minister claimed Maharashtra has achieved a higher investment conversion rate compared to the national average.
He said the state records a memorandum of understanding (MoU)-to-investment conversion rate of 55 to 60 per cent, while projects signed during the World Economic Forum meetings have achieved an implementation rate of nearly 85 per cent.
According to Fadnavis, each major investment proposal is monitored through dedicated relationship managers and a war-room system to ensure faster implementation, as per the PTI.
(with PTI inputs)
