Japanese global apparel retailer Uniqlo plans to foray into the Indian market by opening three stores in Delhi-NCR. Of these, the first store will be spread across 35,000 sq ft at the Ambience Mall, Vasant Kunj. The second will be located at the DLF Place Saket, and the third at DLF CyberHub in Gurugram.
The company’s announcement to start operations in India comes after the country allowed 100 per cent FDI in single brand retail, although foreign retailers still need to source 30 per cent of their products from local suppliers, preferably medium and small enterprises. In 2006, the government had allowed 51 per cent FDI in single brand retail. In January 2018, 100 per cent FDI was permitted for foreign players in single brand retail trade to set up own shops in India without government approval.