Gautam Hari Singhania, Chairman and Managing Director of Raymond, the country’s leading textile and apparel company, said the company has received a large number of offers from global companies following the crisis in neighbouring Bangladesh and is keen to take advantage of this opportunity. According to information provided by Singhania, Raymond is keen to take advantage of the current situation.
Raymond has invested in its garment plant to become the third largest suit manufacturing company in the world. When asked if he expected some garment companies from Bangladesh to be transferred to India, he said, “We are hoping for that. We are looking at the proposal. Obviously it will take some time, but we are definitely getting positive signals in this regard.”
Raymond’s plan is to
He said India is in a better position with its direct sourcing capabilities as companies like Raymond are present in both textile and apparel business, which will also save time for international brands in final sourcing. Singhania said there is no apparel sourcing in Bangladesh. India has a huge opportunity to tap this fabric supply because we have the fabric base here. They have (only) base garments. Singhania said Raymond’s capacity expansion has been put in place, which happened at the right time.
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What other information was given?
He said we are lucky to have these capabilities. We are always looking for opportunities. However, Indian labor can be more expensive than Bangladeshi labor, considering the totality of the situation. I have fabric and direct supplies. I save you time for which you pay me something. Also, India is a politically stable country, with a large middle class and very good consumer and manufacturing capabilities.
