Fast Retailing, Uniqlo's parent company, is looking to establish a significant manufacturing presence in India through about 20 "production partners."according to some resources.

Uniqlo, one of the world's most valuable clothing retailers, already has a network of production partners in India and is looking to expand this network through a significant large investment, they said without providing an estimate.

"The investment amount will be significant because Uniqlo is serious about India and views it as an important market," one of the sources said. "Unlike the existing facilities in India, which are more geared towards exports, the production partners that Uniqlo will bring to India will be aimed squarely at the domestic market."

The company has lofty goals for India, with CEO Tadashi Yanai stating that he wants Uniqlo to be the "best-selling retailer in India."

The brand is now planning to enter Mumbai and Bangalore. It has already opened stores in Lucknow and Chandigarh after Delhi.

“As we expand our global sales, we continue to grow our partner factory network in countries like Vietnam, Bangladesh, Indonesia, and India,” the company has stated on its website.

“For global brands, India should be one of the most logical sourcing hubs given its large vertically integrated manufacturing sector on the one hand and the large, growing domestic market driving demand on the other hand,” Devangshu Dutta, founder of retail consulting firm Third Eyesight, told sources. “However, its weight in the sourcing baskets has historically been low due to several reasons, in spite of China being visible for decades to the management teams of brands and retailers as a concentrated sourcing risk,” he said.

With regard to Uniqlo International, in particular, it said revenue stood at 755.2 billion yen ($5.25 billion), while operating profit was 122.6 billion yen ($852.93 million).

The company said regions like India “reported significant revenue and profit gains as they enter a full-fledged growth phase”