Arvind, one of the largest integrated textile and branded apparel players, announced Friday the company's subsidiary Arvind Lifestyle Brands has entered into an agreement with Gap, to open Gap stores in India. The first stores are expected to open in India's two largest cities - Mumbai and Delhi - starting with Gap's Summer 2015 collection for adults, kids and babies. Arvind plans to open about 40 franchise-operated Gap stores in India.

''India is an emerging, vibrant market and an important next step in our global expansion strategy,'' said Steve Sunnucks, Global President of Gap. ''Gap is loved around the world for our American casual style and enduring value and quality, and we are so pleased to bring our brand and products to life for customers in India.''

 As the world's second most populous country with more than 1.2 billion people, India represents an important platform to bring American casual style to consumers around the world.

''More than half of India's population is under 25 and they are actively embracing fashion in today's retail environment,'' said Ismail Seyis, vice president of gap global franchise. ''We are thrilled to know that our brand awareness is very high and there is a deep affinity for Gap in India.  We look forward to gaining a deeper understanding of the marketplace and consumer needs to create the best possible Gap brand experience for the local consumers.''

''We have a long and successful association with Gap as their vendor partner. Now I am delighted to extend this partnership to retail and bring Gap stores to India. We see the addition of Gap in our portfolio as a significant step to becoming the leading apparel retailer in India''said Sanjay Lalbhai, chairman & managing director of Arvind.

Shares of the company gained Rs 7.9, or 3.13%, to trade at Rs 260.65. The total volume of shares traded was 378,841 at the BSE (10.29 a.m., Friday).