India is a price sensitive market , as long as they keep prices down and quality is maintained they will be a big player. But at the same time others will emulate the model too. Won't be easy.
IKEA has done well to step int Indian market, with a growing middle class. However it would have been better for it to have stepped in from a more viberant market like Bangalore or NCR Delhi. Anyways, best of luck to IKEA..