Pakistan set to become second largest denim exporter

Pakistan has surpassed India in denim production and analysts say there was a great scope for its exports to all over the world.

"We expect denim exports is expected to surge by a CAGR of 3-4 per cent in the next 5 years," research analyst Faisal Shaji said on Wednesday.

He said: "Simultaneously, Pakistan is all set to become the second largest exporter of denim ahead of India. Currently, Pakistan’s production level of 200 million meters surpasses India’s level of 198 million meters."

We initiate our coverage to one of the premier denim manufacturer from Lahore, formerly known as Legler Nafees Denim Mills, which has now been renamed as Azgard-9 (ANL). Although, we don’t find rapid…