Short Takes

IKEA to set up in BengaluruSwedish furniture giant IKEA has finalised Bengaluru as the base for its third Indian store after Hyderabad and Mumbai.The company has announced plans for 25 stores in India by 2025, with the first set to open in Hyderabad early next year.In Bengaluru, the firm has acquired a 14-acre land parcel from the Bangalore Metro Rail Corporation at Nagasandra on Tumkur road. The IKEA store in Bengaluru is expected to have more than 5 million visitors per year and will be connected to the Nagasandra metro station to offer easy access for the customers.Karnataka Chief Minister Siddaramaiah said in a statement: “IKEA will bring best business practices, many employment opportunities, infrastructure development and contribute to the growth of the retail sector in the State. IKEA will work as a catalyst in our development plans.”IKEA India CEO Juvencio Maeztu added: “Karnataka is a highly strategic and important market for IKEA. Along with retail stores, IKEA's purchasing team will also grow local sourcing and engage with local artisan and communities in many projects.”Bengaluru firm to set up in LondonBengaluru-headquartered RxPrism plans to set up a regional innovation hub in London to expand its footprint in the UK and Europe.The global healthcare-focused digital marketing and customer engagement services and solutions provider is among 20 start-ups selected in this year's India Emerging 20 (IE20) programme, which supports Indian companies to grow their international business via London.Dr Maruthi Viswanathan, Founder-CEO of RxPrism Health Systems, said: “London was an immediate choice as the place is appropriately positioned to cover the US and APAC time zones. We have already registered our subsidiary in the UK. Therefore, we aim to complete this expansion plan in about three months from now and get the UK centre functional by this October-December.”The firm is planning to invest $2 million over two years, a part of which would come from the company's innovation fund and the rest from UK-based venture capitalists.The company is set to create over 250 job opportunities for software developers and creative specialists in the next two years, with 30 per cent of this strength working in its R&D lab.Honda expands South Indian plant

Honda Motorcycle and Scooter India, the 100 per cent subsidiary of Japan's Honda Motorcycle Company, has expanded its South Indian plant.The move makes the Narsapura plant in Karnataka the company′s biggest manufacturing unit, with an annual capacity of 24 lakh two-wheelers. This is the fourth Indian plant for the second-largest two-wheeler manufacturer in India, after Hero MotoCorp.India has also become the largest production base for Honda worldwide, with a total capacity to manufacture 64 lakh units, outstripping the Indonesia manufacturing facility.The Japanese major, along with its suppliers, has invested around Rs 5,400 crore ($806mn) in the Karnataka plant and is expected to add 22,000 direct and indirect jobs at the unit.Honda Motor Company Chief Officer Regional Operations, Asia and Oceania, Shinji Aoyama said India contributed 28 per cent to Honda′s global two-wheeler sales in 2016-17 and became the number one contributor to Honda′s two-wheeler business.