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Japanese textile firms, including Uniqlo, eye higher investment, sourcing from India: Goyal

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Japanese textile firms, including Uniqlo, eye higher investment, sourcing from India: Goyal

Japanese textile firms, including Uniqlo, eye higher investment, sourcing from India: Goyal

Japanese textile giants, notably Uniqlo, are eyeing deeper investments in India, indicating a shift towards sourcing products locally for their international lines. During a recent meeting, Commerce Minister Piyush Goyal engaged with Uniqlo's CEO to explore opportunities in retail and manufacturing partnerships. With a keen focus on quality, Indian enterprises are gearing up to align with Japan's stringent textile and food industry standards.

Tokyo [Japan], Aug 26 (ANI): Union Commerce and Industry Minister Piyush Goyal meets Fast Retailing Co, Ltd & Uniqlo Chairman, President & CEO, Tadashi Yanai, to discuss potential collaborations in retail, manufacturing & sustainable business practices between India & Japan, in Tokyo on Wednesday. (@PiyushGoyal X/ANI Photo)

Commerce and Industry Minister Piyush Goyal on Wednesday said Japanese textile companies, including apparel major Uniqlo, are looking at expanding investments in India and sourcing more products from the country for their global markets. The minister met Tadashi Yanai, Chairman, President and CEO of Fast Retailing Co Ltd and Uniqlo in Tokyo. Advt

He held discussions on potential collaborations in retail, manufacturing and sustainable business practices between the two countries. India's expanding retail and manufacturing base offers significant opportunities for greater investment and growth for global brands. ​ "My meetings today with some of the largest importers and marketing companies of textiles, gives me the confidence that we will see a larger presence in India both as investment to expand their business in India and to source from India for Japan and for the 3,500 or 4,000 stores that one company has with a USD 25 billion turnover or USD 4 trillion yen turnover, one company has - Uniqlo," Goyal told reporter here.


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