Raymond eyes up to 25% export growth

April 20, 2023 12:00 am | Updated 05:43 am IST

China plus one strategy is working, says CMD Gautam Hari Singhania

Raymond Ltd., which is into lifestyle and real estate businesses, is eyeing up to 25% growth in exports, according to CMD Gautam Hari Singhania.

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

Raymond exports garments and fabrics to major markets such as the U.S., Europe and Japan. On domestic operations, he said since the Indian economyis doing well, any firm which is into the affordable luxury space seems to be doing well. “So, in lifestyle [garments & fabrics], we are hoping to do well because of the upcoming wedding season.”

He said lifestyle and real estate business would grow at the rate of “at least double [that] of inflation.”

“If you see the last five quarters, we have delivered five, very solid, quarters of results,” he added.

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