Raymond eyes 20-25% growth in exports

Raymond Ltd., which is into lifestyle and real estate among others businesses, is eying up to 25% growth in exports, according to chairman and managing director, Gautam Hari Singhania.

MUMBAI

Raymond Ltd., which is into lifestyle and real estate among others businesses, is eying up to 25% growth in exports, according to chairman and managing director, Gautam Hari Singhania.

“Exports are doing welI,” he said. “I think exports will grow over 20 to 25% because the China plus one strategy is working out. People have realised that they cannot have all the eggs in the China basket because if China can go into any volatile situation tomorrow, they will be forced to pull out,” he added.

“American companies might have political pressure not to do business with China, so they would say you would have at least two or three suppliers if you go to China plus one. India has to gain from it,” he added.  The company’s major exports markets are America, Europe, Japan. It exports garments and fabrics.

On the domestic operations, he said since the Indian economy is doing well, any company which is into the affordable luxury space seems to be doing pretty well. 

“So, in lifestyle [garments & fabrics] , we are hoping to do well because the wedding season is coming up and a lot of sales is driven by that. So, we’re seeing a pickup now. And as far as real estate is concerned, we have created one of those most solid brands today in the market, and that’s giving us traction,” he said. 

“I would say is doing reasonably well. Of course we can do better,” he added.