Leading textiles and apparel company Raymond has reported a surge in global inquiries following the crisis in neighbouring Bangladesh.
Gautam Hari Singhania, Chairman and Managing Director of Raymond, stated that the company is prepared to capitalise on this opportunity.
Raymond, which has recently expanded its garmenting facility to become the world’s third-largest suit maker, is well-positioned to take advantage of the current market shift.
Singhania told PTI, "We are hoping to see some garmenting business shift from Bangladesh to India. We are seeing the inquiries, and while it will take time, we are seeing positive signs."
Singhania emphasised India's competitive advantage, noting, "India is better-placed with its end-to-end supply capabilities, linking all stages of production. We are present in both fabric and garmenting, which saves time for international brands."
He contrasted this with Bangladesh, which lacks a fabric supply and only has a garmenting base.
Raymond’s recent capacity expansion has come at an opportune moment. Singhania commented, "We are lucky to have those capacities and are always looking for opportunities."
While acknowledging that Indian labour costs may be higher than those in Bangladesh, Singhania highlighted the benefits of India's comprehensive supply chain. "Look at the totality of the situation. I have a fabric and end-to-end supply. I save your time, for which you pay me something," he said. He also pointed out India's political stability, large middle class, and strong manufacturing capabilities as additional advantages.
Following its demerger, Raymond Lifestyle, which houses all apparel-related businesses of the nearly 100-year-old Raymond group, is set to be listed this week.
Singhania noted that global sourcing strategies, including the 'China+1' approach, have made India a preferred destination.
"This is playing to our advantage, leading to stronger business relationships with existing customers and presenting multiple opportunities for new markets and customer acquisition," he said.
He also compared the quality of Indian apparel work favourably against that of China. "China is about quantity and cheap quality. India is about value and quality," Singhania stated.
Raymond’s Garmenting Unit serves as a white-labelled manufacturer and integrated supplier of high-value clothing products to leading international brands. A
ccording to its latest annual report, the company has a production capacity of 7.5 million pieces of jackets, trousers, and shirts in India and 3.2 million in Ethiopia.
Follow us
