Pantaloon Retail India Limited has announced in a notice to the BSE that it will invest Rs 17.5 crores in setting up a subsidiary for carrying out office supplies business. Office supplies business includes selling from papers, staples, files, file cabinets to printers to software. This is a Multi-Billion dollar industry in the US and will be the same in India with rapid economic growth.
Pantaloon is also establishing a subsidiary in Hong Kong to source supplies from China and other cheaper Asian markets.
Tags: Retail India, Reliance Retail, Pantaloon Retail, Office India