• Login
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
Time of Pakistan
No Result
View All Result
Home Business

Indian group to open business in Pakistan

ToP by ToP
August 17, 2021
in Business, Pakistan
0
Godrej

Adi Godrej

0
SHARES
6
VIEWS
Share on FacebookShare on Twitter
Godrej
Adi Godrej

Godrej, the Indian consumer goods group, plans to establish operations in Pakistan and Myanmar, in a sign of deepening trade between India and two of its largest neighbours.

Adi Godrej, the billionaire head of the Godrej conglomerate, told the Financial Times that his 115-year-old group, which had revenues of Rs185bn ($3.3bn) in 2011, will begin exporting to Pakistan this year.“We will be setting up businesses before the end of the calendar year in Pakistan,” Mr Godrej said. “Pakistan is the sixth largest country in the world in terms of population, so the opportunity is reasonably good.” The move is one of the most prominent signs of increased trade between the two nuclear-armed states, and follows a wider rapprochement that included a visit by Asif Ali Zardari, Pakistan’s president, to New Delhi earlier this year. Last month, Pakistani tycoon Mian Mohammad Mansha told the FT he was looking to expand his.

The move by Mr Godrej’s family-controlled group, which includes four listed entities and more than a dozen private subsidiaries with interests ranging from real estate to industrial engineering, is part of an expansion aimed at increasing revenues to $33bn over the next decade.Legal changes agreed between the two countries earlier this year allowed the export of certain products from India into Pakistan. Although direct investments are not yet permitted, Mr Godrej says he anticipates this being allowed in the near future.

Godrej is the world’s largest producer of packaged hair dye, and has a number of non-listed joint ventures with prominent western businesses including Godrej Hershey with the US confectioner and Godrej Tyson with the American meat processor.

Its plans to invest directly in later this year come amid growing interest from foreign groups following economic and political reforms and on the south-east Asian country.“In Myanmar we are looking to establish both our agri and consumer businesses,” Mr Godrej said. Godrej Agrovet, the group’s agribusiness division, had revenues of Rs24bn in the last financial year.Large Indian industrial conglomerates, including the $83bn Tata group, are examining ways to expand their operations into Pakistan and Myanmar.

Mr Godrej, who is also president of the Confederation of Indian Industry, led a delegation of more than 40 Indian business leaders on a trip to Pakistan in May as part of broader attempts to increase bilateral trade, which totalled less than $2bn last year according to figures from India’s commerce ministry.“Businessmen on both sides of the border have been very keen to find ways to explore each other’s markets, first through exports and then directly,” said Rajiv Kumar of the Federation of Indian Chambers of Commerce and Industry. “The fact that Godrej plan to do this is a significant step forward.“India has announced that they will admit Pakistani investment and have afforded Pakistan most favoured nation status, but Pakistan has been blowing hot and cold on this.” – TOP

Tags: Indian Chambers of Commerce and IndustryIndian consumer goods group
Previous Post

Bollywood rekindles Valley romance: Yash Chopra returns to Kashmir to shoot film after 25 years

Next Post

Your Amazing Brain!

ToP

ToP

Related Posts

11th J.A. Zaman Memorial Open – Powered by Gem Golfers
Sports

11th J.A. Zaman Memorial Open – Powered by Gem Golfers

by Jameel Ahmad
April 9, 2025
Imran Khan
Pakistan

Imran Khan and Bushra Bibi Sentenced to Jail in £190 Million Case

by Jameel Ahmad
January 17, 2025
shaza fatima khawaja
Pakistan

World’s Largest Submarine Cable Arrives in Pakistan: Could This End Internet Woes?

by Jameel Ahmad
January 15, 2025
Kundi
Pakistan

“Nothing Was Seen”: Kundi on Talks

by Jameel Ahmad
January 3, 2025
Inflation
Pakistan

Pakistan’s Inflation Plummets to 6-Year Low: ‘4.9% in November Sparks Hope for Rate Cuts’

by Jameel Ahmad
December 2, 2024
Belarus President
Pakistan

Belarusian President’s Three-Day Visit to Pakistan Promises Strengthened Ties and Key Agreements

by ToP
November 25, 2024
Arno by Anny Dresses
Fashion News

Arno by Anny’s Launched its Latest Western Wear Collection for Women

by Jameel Ahmad
October 31, 2024
Next Post
Your Amazing Brain

Your Amazing Brain!

Popular Stories

  • Ron Williams Bodybuilding Champion

    Bodybuilding Champion Found Happiness in God, not Competition

    0 shares
    Share 0 Tweet 0
  • Quaid’s Daughter Dina Wadia: Important Historical Figure

    0 shares
    Share 0 Tweet 0
  • 12-year-old British Pakistani boy makes £290,000 during summer holidays

    6800 shares
    Share 0 Tweet 0
Time of Pakistan

About Times Of Pakistan

kralbetbetturkeyikimislibahis1xbetm.infohipas.infohttps://www.wiibet.com/restbetcdn.com

Other Categories

  • Beautiful Pakistan
  • Fashion News
  • Funny News
  • Viral Videos
  • Weird News

Recent Posts

  • 11th J.A. Zaman Memorial Open – Powered by Gem Golfers
  • Imran Khan and Bushra Bibi Sentenced to Jail in £190 Million Case
  • World’s Largest Submarine Cable Arrives in Pakistan: Could This End Internet Woes?

Times Of Pakistan © 2024. Design & Developed by E2E Solution Providers.

No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In