Global retail chain major J C Penney plans to make India a major sourcing hub for its apparel and high level discussions were on to increase its offtake to $2 billion within a year's time.
| |||||||||||
Senior officials of J C Penney including its vice president (sourcing) will be meeting senior Indian textiles ministry officials and Apparel Export Promotion Council next week to enhance its sourcing, sources said in New Delhi.
They are also likely to meet senior commerce ministry officials.
The retail chain major is also likely to enhance its presence in the country and set up an office in the National Capital Territory region in line with its plan to expand its sourcing, sources said in New Delhi.
They said the chain is believed to up its shopping in apparel segment to the tune of $2 billion.
According to industry analysts, most retail chains are now turning to India, as they want to keep some alternative sourcing hubs apart from China in the post-quota regime.
