India’s textile and garment sector is poised for a significant boost as Uniqlo, the Japanese apparel giant, alongside several other leading Japanese apparel brands from Japan signal growing appetite to deepen sourcing ties from India and supply them to worldwide retail networks.
Commerce and Industry Minister Piyush Goyal engaged in talks with senior Uniqlo executives, exploring avenues for partnership spanning retail operations, production capabilities and environmentally responsible business methods.
Goyal noted that his interactions with several of Japan’s foremost clothing importers and marketing firms had bolstered his belief that these companies would broaden both their capital commitments and procurement activity within India.
“The discussions I held today with some of the sector’s biggest importers and marketing firms have strengthened my belief that India will witness a stronger footprint from these companies — both in terms of investment to grow their operations here and in sourcing supplies from India destined for the Japanese market,” Goyal remarked.
He further indicated that this prospect might broaden to encompass supplying the extensive retail chains operated by Japanese firms internationally, citing as an example one enterprise boasting between 3,500 and 4,000 outlets worldwide and generating roughly $25 billion in yearly revenue.
Minister identifies growth potential for Uniqlo within Indian market
According to Goyal, senior figures at Uniqlo conveyed considerable enthusiasm about deepening the company’s involvement in India.
Discussing his conversation with Uniqlo’s Chairman, Tadashi Yanai, Goyal highlighted the remarkable energy displayed by the nearly-octogenarian business leader throughout their exchange.
“The level of eagerness and enthusiasm he demonstrated exceeded anything I have witnessed from other industry figures. He appeared almost prepared to begin implementation immediately,” Goyal observed.
Topics explored during the talks included possibilities for Uniqlo to broaden its footprint across India in the areas of retail, production and eco-conscious business approaches.
Uniqlo launched its inaugural Indian outlet back in October 2019 and now runs upwards of ten locations across the country.
“The retailer, headquartered in Japan, achieved profitability in its Indian venture within a three-year window of commencing operations,” ET Retail reported.
The minister’s remarks suggest that the Indian government’s outreach to Japanese textile enterprises has now shifted focus beyond simply supporting their domestic retail growth within India, moving instead towards positioning the nation as a substantial hub for sourcing and manufacturing to serve these companies’ global business operations.
