Bangla crisis: Biz inquiries soaring at Raymond: CMD

New Delhi:Leading textiles and apparel company Raymond has received a huge number of inquiries from global firms after the crisis in neighbouring Bangladesh and is ready to grab this opportunity, its Chairman & Managing Director Gautam Hari Singhania said. Raymond, which has invested in its garmenting facility to become the third largest suit maker in the world, is ready to take advantage from the current situation, Singhania told. Asked if he expects shifting of some garmenting business to India from Bangladesh, he said, “we are hoping so. We are seeing the inquiries. It obviously needs a little bit of time, but we are certainly seeing positive signs on that.”

India is better-placed with its end-to-end supply capabilities linking all stages as companies as Raymond are present in both fabric and garmenting business, which, in turn, will save time for international brands also on final delivery, he said.

“Bangladesh does not have a fabric supply. India has got a great opportunity to take advantage of this fabric supply because we have the fabric base here. They have (only) garmenting base,” said Singhania. Singhania said Raymond’s capacity expansion has come online, which is perfectly timed.

Raymond expects 15% sales growth(PG 2)