Raymond Ltd. has reported a significant increase in business inquiries from global companies following the recent crisis in Bangladesh, according to Chairman and Managing Director Gautam Hari Singhania. In an interview with a news agency on Sunday, September 1, Singhania highlighted that the textile and apparel giant is well-positioned to seize this opportunity.
Raymond, which has heavily invested in its garment manufacturing facilities, is now the world’s largest suit maker and is preparing to capitalize on the situation. The company is exploring the possibility of shifting some of its garment production from Bangladesh to India.
“We are optimistic,” Singhania said, noting that while the transition will take time, the initial signs are promising. He emphasized India’s advantage in having an integrated supply chain that spans from fabric production to garment manufacturing, a capability that Bangladesh lacks. This integration, he explained, could reduce delivery times for global brands, making India a more attractive sourcing destination.
Singhania also pointed out that while labor costs in India are higher than in Bangladesh, the comprehensive supply chain and fabric availability in India offer a competitive edge that can offset these costs.
India’s political stability, large middle class, and robust manufacturing capabilities are contributing to its growing appeal as a sourcing hub, especially as companies adopt a “China plus one” strategy to diversify their supply chains. This shift is enhancing Raymond’s business relationships and opening up new market opportunities.
Singhania noted that Raymond’s expansion plans are timely, with increased production capacity in both India and Ethiopia. The company currently has the capacity to produce 7.5 million pieces of jackets, trousers, and shirts in India, and an additional 3.2 million in Ethiopia.
