Raymond Seizes Opportunities Following Bangladesh Crisis – Insights from Gautam Singhania
Opportunities Emerge for Raymond Amid Bangladesh Crisis
Raymond has seen a surge in business inquiries following the turmoil in neighboring Bangladesh, according to Chairman & Managing Director Gautam Hari Singhania. The company is poised to take advantage of this situation, having invested in facilities that make it the third largest suit maker globally.
Advantages of India’s Fabric Supply
Singhania expects some garmenting business to shift from Bangladesh to India, citing the latter's comprehensive supply capabilities. Our fabric base gives us a competitive edge as Bangladesh relies solely on garmenting.
- Expansion and Capacity: Raymond’s production capacity has been increased to meet growing demands.
- Political Stability: India's favorable political landscape supports manufacturing stability.
- Quality Over Quantity: Singhania emphasizes that India focuses on value and quality contrary to China’s quantity-driven approach.
The Shift in Global Sourcing Strategies
With firms adopting a 'China+1' strategy, India becomes an attractive sourcing option. Singhania notes that this shift fosters stronger client relationships and opens new market opportunities.
Ultimately, as Raymond solidifies its position, it is essential for global companies to develop a hedging strategy, diversifying their sourcing for resilience.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.