Swedish fashion retailer H&M is preparing to enter India after CEO Johan Perrson met Indian Commerce and Industry Minister Anand Sharma.

“We will now present H&M and our plans for India,” said H&M spokesperson Kristina Stenvinkel.

“We are interested in opening stores there. What we are doing now is preparing to apply to start a wholly-owned subsidiary.”

The retailer had 2808 stores worldwide as at January.

The Indian government is considering allowing retailers to open wholly-owned single brand retail stores on a case by case basis. To gain approval such retailers must commit to sourcing products from within the country.

GB