Raymond reports rising enquiry volumes amid crisis in Bangladesh

Textiles and apparel giant Raymond has seen inquiries from global fashion businesses increase in the wake of the ongoing crisis in Bangladesh. Keen to take advantage of the opportunity, Raymond sees some of Bangladesh’s garmenting business shifting to the Indian market.

“We are seeing the enquiries,” Raymond’s chairman and managing director Gautam Hari Singhania told the Press Trust of India. “It obviously needs a little bit of time, but we are certainly seeing positive signs on [sic] that… 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 the] garmenting base.”
 
Indian businesses such as Raymond offer end-to-end supply capacities as they manufacture both textiles and ready made apparel. Indian labour can be more expensive than in Bangladesh but end-to-end solutions can save time which can help to reduce total costs for businesses.
 
“We are lucky to have those [fabric] capacities,” said Singhania. “We are… always looking for opportunities… Nobody would like to put all the eggs in one basket.”
 
Numerous global fashion businesses are pursuing a ‘China plus one’ strategy for their sourcing needs. This is helping India to become a staple sourcing destination for numerous large businesses which Raymond feels also plays to its advantage.