Looking to foray into Indian markets,one of the leading Karachi-based textile groups,Gul Ahmed,is all set to participate in the annual three-day event for textile sector,Fibre to Fashion,organised by the Southern Gujarat Chamber of Commerce and Industry (SGCCI) in Surat from Saturday. The participation of the Rs 2,000 crore textile giant is one of the takeaways from the recent MoU inked between SGCCI and the Karachi Chamber of Commerce and Industry (KCCI) last month to strengthen cooperation between the two chambers. Both organisations have also mutually agreed to make a joint chamber of commerce to boost bilateral trade as part of the MoU.
Gul Ahmed will be looking for a soft launch in India. They will be looking to expand the scope of its business by selling its products under its brand name and garnering more distribution partners here, said Jagat Shah,promoter of Cluster Pulse,an Ahmedabad-based economic development agency,who was one of the three members from Gujarat in the delegation that visited Pakistan in the last week of November. The participation of the Karachi-based textile brand is an outcome of the MoU we signed with KCCI,paving way to form a joint chamber of commerce and industry and facilitating trade visits for member of both the chambers in both the countries. While the current bilateral trade between India and Pakistan is worth $2.6 billion,it has the potential to reach 20 billion in the next ten years. We identified four sectors namely texile,agriculture,non-tariff barriers and banking in our deliberations with officials and business leaders from Pakistan, said Kamlesh Yagnik,President of SGCCI.