JC Penney plans to double its outsourcing from India Friday, June 11 2004 16:44 Hrs (IST)
New Delhi:
International retailer JC Penney has said it plans to double outsourcing from India once the multi fibre agreement comes to an end next year.
"We are optimistic and expect the Indian textiles industry to grow. We have identified India among countries that we will focus our efforts on," JC Penney Country Head Adil Raza said at a seminar during the ongoing Lakme India Fashion Week.
The focus on India was in view of phasing out of the quota regime from January 1, 2005, he said.
"Retailers want to spread their risks and not rely only on China for sourcing their requirements when the quota regime ends," Raza said.
Earlier, JC Penney had sent a team to India to study the textiles industry.