You may have read our recent post about India as a potential destination for businesses considering expanding overseas. If not, you can read it here.

And who should make front page news this week by setting up business in India? None other than global brand and the world's largest furniture retailer, IKEA.

The Hyderabad store is IKEA's first opening in India, followed by plans to open shops in all major cities over the coming years, with sites already purchased in Mumbai, Bangalore and New Delhi.

IKEA's global chief executive Jesper Brodin said, "The market of India for us is a dream."