Karachi: Indian industrialists are keen and enthusiastic to explore and revive business contacts with Pakistan and if reports from New Delhi are to believed, exporters there are ready to grab their share of the Pakistani market.

Some of the companies exploring possibilities of trade with Pakistan are the 105-year old Godrej Group, Tata Tea (which has started a partnership with Pakistan-based firm) and Marico Industries, India's leading coconut oil maker.

"If the signs of revival in trade ties between the two countries are anything to go by, we would like to explore plans of exporting our products to Pakistan," 'The News' quoted Godrej Group Chairman Adi Godrej as saying.

The Godrej group is hopeful that with its brand equity and the huge popularity of Indian television programs in Pakistan, it is on a strong wicket to market its products.

"Our products have a natural appeal to people in India and other countries in the subcontinent, especially Bangladesh and Pakistan. In fact, the people of the subcontinent share similar FMCG tastes apart from sharing a common history. Marico has, therefore, looked upon the subcontinent as a 'common' market," said Harsh Mariwala, Chairman and Managing Director of Marico Industries.

Its flagship brand 'Parachute' is a brand leader the coconut oil market in India.

"We have a growing presence in Bangladesh, culminating in local operations. However, in Pakistan we have been able to make only sporadic exports. If indeed the trade barriers are lifted, we would certainly explore opportunities of increasing business in Pakistan by stepping up our exports," he adds.

Videocon International's CEO Anirudh Dhoot said, "Videocon has a minor presence in Pakistani market. We have some distribution tie-up in Pakistan. We cannot deny the fact that there are lots of opportunities for growth in that market."

"Because of the similarity in culture and habitat between the two countries, one can find it very easy to enter into that market once the barriers of terrorism are removed. If the situation revives, we will certainly review the market," he adds.

Tetley, a subsidiary of Tata Tea, entered the Pakistani market recently and finalised a joint venture with the Lakson Group, one of the largest business houses in Pakistan, to import and sell tea in Pakistan from October.

Both companies have agreed to invest around $ five million (Rs 400 million) in the venture, which would include a tea blending plant in Baluchistan.

"Developing markets account for over 80 per cent of the world's tea consumption. Pakistan is the fifth largest black tea market and consumes 129,000 tonne of tea, of which about 55 per cent are branded, with the balance being sold loose. Thus, it offers an opportunity to build the franchise for the Tetley brand in a big way," an industry source said.

ANI