The Rs 1,500-crore (Rs 15 billion) FMCG group has been studying the neighbouring markets for some time and Duggal said the exploratory stage was "still on."
The company has been making a lot of efforts to grow in overseas markets, including the West as well as neighbouring countries.
Through a fully-owned subsidiary Dabur International, it has operations in the Middle East, Asia, Africa, UK and the US.
Among neighbouring countries, it has a strong presence in Nepal and Bangladesh. Duggal said Pakistan was an "important market" for Dabur as part of its future growth strategy and the company will try to finalise a set-up for the country soon.
He said the company was looking at a market for its personal care and digestive products in Pakistan. Dabur currently has a distribution tie-up in Pakistan with a local partner Muller and Phips.
Exports to that country are estimated at about Rs 15 crore (Rs 150 million). Asked whether Dabur would go with its current partner for the JV, Duggal said it was one of the contenders.
"We are yet to take a final call on this," he said. He refused to specify the kind of investments the company had earmarked for Pakistan, just saying that these would be "significant."
Duggal said there were "huge prospects" in the business, pointing out that the potential existing in oral care business was to the tune of $500 million.
"Our potential customers in the private label business can include big chains and institutional buyers and we are looking for opportunities," Duggal added.
Elaborating on the positioning of the Balsara brands, senior company officials said while Babool will be sold in the economy segment, which was the fastest growing, Meswak will find place in the premium segment.
Duggal said the company expected much of the growth from rural areas. Asked whether a deficient monsoon could dampen the prospects for the company, he said it was a cause for concern.
"It is a cause for concern and we are keeping an eye on the way the monsoon progresses," Duggal added.
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