Over 150 exhibitors, including the country's top brands and fashion outlets such as Gul Ahmed, are expected to participate in the September 11-14 event to be held here.
The show is expected to be inaugurated in the presence of the commerce ministers of the two countries.
"These events would compliment our diplomatic side to enhance understanding and create more opportunities between our countries...Such events would help to bring our people together," High Commissioner of Pakistan in India Abdul Basit said.
The fair happens once in two-years but would soon become an annual affair, he said.
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"Building on the success of Lifestyle Exhibition in April 2012, Trade Development Authority of Pakistan (TDAP) is holding the 2nd edition of 'Lifestyle Pakistan' here," TDAP Secretary Rabiya Javeri Agha said here at the curtain raiser function organised by Ficci.
Exhibitors will showcase products from sectors including fashion, textiles, jewellery, accessories, home textiles, furniture, marbles and agro products.
TDAP Chief Executive S M Munner said that leaders of both the countries would jointly work to create an enabling environment for trade and commerce.
"I met India's Commerce and Industry Minister Nirmala Sitharaman and requested her to inaugurate the show. If India and Pakistan will come together then we do not have to buy products from other countries," Muneer added.
Entry for the exhibition, whose theme is 'Aalishan Pakistan' will be free. There would also be arrangements for Business-to-Business meetings.
The event will witness brands like Gul Ahmed, AlKaram, Khaadi, Chen One and Bonanza.
India has organised a similar show in Lahore in February.