Maha CM holds talks with Uniqlo for more investment in the state
Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Thursday said that he held discussions with the top management of Japanese apparel and retail giant Uniqlo on deepening their presence in the state with investments in retail expansion, sustainable cotton farming and global scale manufacturing.
“It was a great pleasure to E- Meet. Masahiro Yubisui (Group Executive Officer), Takashi Kuroda (COO) and the team of Uniqlo, a Japanese behemoth and one of the world’s largest apparel design and retailing company. Nivruti Rai (MD & CEO, Invest India) and her team also joined the meeting,” the Chief Minister said in a statement on X.
“We are now working on identifying areas for partnership to benefit the entire cotton supply chain from farm to store. Their commitment will drive investment, innovation and employment in the state,” Fadnavis said.
Maharashtra is a major cotton-producing state in India, known for its significant contribution to the country’s cotton output. The state’s black soil and favourable climate, with adequate rainfall and sunshine, are well-suited for cotton cultivation, making it a key crop.
Uniqlo, the Japanese global apparel retailer, has a growing presence in India, with its first store opening in October 2019 in New Delhi. As of November 2024, Uniqlo operates 15 physical stores in India, with plans to expand further. The brand has focused on key markets like Delhi-NCR, Mumbai, and Chandigarh, with recent expansions into Bengaluru and new stores in Mumbai and New Delhi.
Maharashtra is the most industrialised state in India and the highest contributor at around 15 per cent to India’s GDP. Maharashtra boasts of an excellent labour pool, Government policies and conducive infrastructure, which has enabled the state to maintain its top position over the last few decades.
The Maharashtra government had earlier this year announced a massive plan to raise $50 billion to invest in various infrastructure and development projects in the State.
The Maharashtra Chief Minister said between 2014 and 2019, the State had invested about $30 billion in infrastructure projects such as the Coastal Road, Atal Setu, Samruddhi Highway and the Navi Mumbai International Airport.
“We are in talks with Indian financial institutions and foreign investors to raise $50 billion,” he said,
Fadnavis said that after New Mumbai, the State is in the process of creating a third Mumbai between Atal Setu, JNPT Port and the new airport. And this will be three times bigger than the existing Mumbai.
The third Mumbai is already emerging as the data centre capital of India. Rentals will be 50 per cent lower than in Mumbai, making it attractive for IT and tech firms. The fourth Mumbai will be around Vadhvan port with port, airport, bullet train and coastal road connectivity, he said.
While the new Mumbai Airport will be operational soon, he said two new airports are being built in Pune and Vadhvan, while the brownfield expansion is underway at Shirdi and Nagpur airports in the state.
