Subscribe free to our newsletters via your
. Energy News .

Flagship Indian retailer opens in Pakistan
by Staff Writers
Karachi (AFP) June 21, 2013

Raymond, an Indian suiting and fabrics conglomerate, will on Friday formally open its first shop in Pakistan, where business leaders welcomed it as a step towards closer trade ties between the two nuclear rivals.

NexSource Pakistan, which acquired the rights to sell Raymond suiting in Clifton, one of the most upscale neighbourhoods in business capital Karachi, said it was a major acquisition.

"They wanted to bring Raymond to Pakistan and we offered to be their partner," said one of its directors, Najmus Saqib.

Nexsource say they expect to reap good business after an aggressive advertising campaign in a city whose wealthier residents are sartorially obsessed and where fashion is a key driver of business.

"People are crazy about clothing and dressing, and they already know Raymond," Saqib said. "We just have to let them know that it is here."

India and Pakistan have fought three wars since independence from British rule in 1947 and relations are traditionally strained.

New Delhi broke off peace talks with Islamabad after Pakistani gunmen killed 166 people in Mumbai in 2008. But lower-level talks have since resumed, focusing largely on trade and visas.

New Pakistani Prime Minister Nawaz Sharif, who is one of the country's wealthiest businessmen, has called for closer rapprochement with India since winning general elections in May.

Both sides have been engaged in deadly exchanges this year across the unofficial border in Muslim-majority Kashmir, which is held in part by each country but claimed in full by both.

On Wednesday, Pakistani officials said a Pakistani girl was killed when Indian troops opened fire.

However NexSource executive Saqib said he believed the enormous Indian market represented massive business opportunities for Pakistan.

"We expect a good response (through Raymond) but we believe it is a futuristic investment as we can explore a market 10 times bigger than ours," said Saqib.

Pakistani business leaders welcome the arrival of the Indian brand, which was founded in 1925 and whose Karachi shop is to be inaugurated formally later on Friday.

"As long as there is healthy competition we welcome this move," said Amin Hashwani, president of the Pakistan India Business Forum.

Nexsource say they plan to open more Raymond outlets in Islamabad, Lahore and Faisalabad before the end of the year.


Related Links
Global Trade News

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Japan May trade deficit widens on import costs
Tokyo (AFP) June 19, 2013
Japan extended a string of trade deficits in May, official data showed Wednesday, as the country's import costs rose on the weak yen but shipments to the United States and China soared. The strong export data - up 10.1 percent over last year - comes after earlier figures showed the world's third-largest economy grew faster than expected in the first quarter, as Prime Minister Shinzo Abe wo ... read more

EU Parliament committee passes revised emissions trading scheme fix

World cities improving energy efficiency: report

China launches first carbon trading scheme

India's Energy Ties with Iran Unsettle Washington

Russia, China reach $60 bn oil supply deal: Putin

Russia, China sign 'unprecedented' $270 bn oil deal

Stop hyperventilating, say energy efficiency researchers

Exxon seeks to export Canadian LNG

Mongolia confronts smog with launch of first wind farm

New certified small wind turbine announced for US market

Britain rolls out offshore wind power investment stimulation plan

Prysmian Group To Showcase At 2013 RenewableUK Offshore Wind In Manchester

EU trade chief sees speedy end to China solar row

Qatar comes to rescue of Germany's Solarworld

Polymer-coated catalyst protects "artificial leaf"

Dynamic Energy and Stone Quest Complete New Jersey Solar Project

US state in new alert over nuclear waste leak

Romania to sell stake in nuclear plant operator

Poland may delay launch of nuclear plants: PM

Toxic radiation in groundwater at Fukushima: operator

Biofueled Airbus makes air show entrance

US forest management policy must evolve to meet bioenergy targets

Black locust showing promise for biomass potential

Researchers unearth bioenergy potential in leaf-cutter ant communities

China's space program less costly

China seeks to boost share of satellite market

Space lotuses to touch down in Shanghai

Half-Time for Shenzhou 10

Obama to propose 'national plan' on climate change

May global temperatures third warmest on record: US

World Bank warns global warming woes closing in

Two thirds of Chile faces desertification: president

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement