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Ikea incurred a net loss of more than ₹3 crore every day on average in India in the last financial year, reflecting large-scale investments. Sales in India surged 61% to ₹1,768 crore in FY23 due to new stores. Net losses widened to more than ₹1,134 crore due to investments in infrastructure. Ikea is working on positioning and growth in India, opening smaller stores. Operations were impacted by the pandemic, but management is optimistic. Ikea plans to serve 200 million people by 2025 and open more stores.