PM Modi invites Japan's Uniqlo to join India's bid to become manufacturing hub for textiles

They also discussed various reforms being undertaken to improve ease of doing business for foreign investors in India

AgenciesUpdated: Monday, May 23, 2022, 01:43 PM IST
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PM Modi discussed with Tadashi Yanai, CEO of Fast Retailing, the parent company of UNIQLO, in Tokyo about Uniqlo's growing presence in India and investment opportunities for textile manufacturing under PLI. | Twitter/ @PMO

In his meeting with the CEO of Fast Retailing, the parent company of Uniqlo, Tadashi Yanai in Tokyo on Monday, Prime Minister Narendra Modi called upon him to join India's journey to become a manufacturing hub for textiles, particularly scaling up the use of technologies.

While Yanai appreciated the entrepreneurial zeal of Indians, PM Modi discussed with him Uniqlo's growing presence in India and investment opportunities for textile manufacturing under Production Linked Incentive (PLI) scheme.

They also discussed various reforms being undertaken to improve ease of doing business for foreign investors in India, including in the areas of industrial development, infrastructure, taxation and labour, "PM @narendramodi interacted with Mr. Tadashi Yanai, Chairman, President and CEO of @UNIQLO_JP. Mr. Yanai appreciated the entrepreneurial zeal of the people of India. PM Modi asked Mr. Yanai to take part in the PM-Mitra scheme aimed at further strengthening the textiles sector," the Prime Ministers' Office (PMO) said in a tweet.

During the meeting, they discussed the rapidly growing textile and apparel market of India and investment opportunities under the PLI scheme for the textile sector in India. "They also discussed various reforms being undertaken to enable ease of doing business for foreign investors in India including in the areas of industrial development, infrastructure, taxation and labour," the Ministry of External Affairs (MEA) said in a statement.

"Prime Minister invited Uniqlo's enhanced participation in India's journey to becoming a manufacturing hub for textiles, particularly the use of technologies in textile manufacturing. Prime Minister also invited Uniqlo to take part in the PM-Mitra scheme aimed at further strengthening the textiles sector," the ministry added.

Before this meeting, PM Modi also held talks with Dr. Nobuhiro Endo, Chairman, NEC Corporation. He appreciated NEC's role in India's telecommunication sector, especially in undertaking Chennai-Andaman & Nicobar Islands (CANI) and Kochi-Lakshadweep Islands (KLI) OFC projects.

They discussed various reforms being undertaken to enable ease of doing business in India including in areas of industrial development, taxation and labour, MEA said. They also discussed opportunities in India in new and emerging technologies.

The PM will have a bilateral meeting with Japanese Prime Minister Fumio Kishida.

PM Modi will also participate in the second in-person Quad Leaders' Summit, which will provide an opportunity for the leaders of the four Quad countries to review the progress of Quad initiatives.

During the visit, PM will participate in a Business Event with Japanese business leaders and also address and interact with the Indian community in Japan.

(With inputs from ANI)

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