Raymond Ltd India’s leading textile and apparel conglomerate, has announced a massive investment of up to US $115 million (Rs 1000 crore) in Andhra Pradesh. The investment will focus on expanding its operations in garmenting, aerospace, and defence sectors near Hindupur in Ananthapur District. This move underscores Raymond’s commitment to diversifying its portfolio and strengthening its presence in high-growth industries.
A Strategic Partnership with Andhra Pradesh
Gautam Singhania, Chairman of the Raymond Group, along with K Narsimha Murty, a board member of Raymond Ltd and the company’s leadership team recently met Andhra Pradesh Chief Minister N Chandrababu Naidu to discuss the investment plans. During the meeting, Raymond pledged its support for a joint redevelopment project in the state aligning with Andhra Pradesh’s vision of becoming a hub for industrial and technological growth.
Diversifying into High-Growth Sectors
Raymond, known for its iconic suiting and shirting fabrics is now venturing into new territories. The investment will focus on:
- Garmenting: Expanding its apparel manufacturing capabilities to cater to both domestic and international markets.
- Aerospace: Exploring opportunities in the aerospace sector leveraging advanced manufacturing technologies.
- Defence: Contributing to India’s defence manufacturing ecosystem in line with the government’s ‘Make in India’ initiative.
Raymond’s Legacy and Global Presence
Raymond is a household name in India, synonymous with premium fabrics and apparel. The company offers a wide range of products, including denim, linen, cotton, wool blends, and woven fabrics. Its portfolio includes renowned brands such as Parx Ethnix, Park Avenue, Raymond Ready To Wear, and ColorPlus.
With a robust B2B presence, Raymond manufactures suits, trousers, shirts, and jeans for some of the world’s most prestigious fashion brands. In India, the company operates a vast network of over 20,000 points of sale, including more than 1,500 stores across 600 towns. Globally, Raymond exports its products to over 60 countries, including the USA, Canada, Europe, Japan, and the Middle East.
Boosting Employment and Economic Growth
The Rs 1000 crore investment is expected to create significant employment opportunities in Andhra Pradesh contributing to the state’s economic development. By setting up advanced manufacturing facilities Raymond aims to enhance its production capabilities while supporting local communities.
A Vision for the Future
Raymond’s foray into the aerospace and defence sectors marks a significant milestone in its journey. The company’s expertise in precision manufacturing and innovation positions it well to capitalize on emerging opportunities in these industries.
Chief Minister N Chandrababu Naidu welcomed Raymond’s investment, stating that it aligns with the state’s goal of attracting global players and fostering industrial growth. “Raymond’s commitment to Andhra Pradesh reflects the state’s investor-friendly policies and its potential as a manufacturing hub,” he said.
What’s Next?
With the investment plans now in motion, Raymond is set to begin the groundwork for its new facilities in Hindupur. The project is expected to boost Andhra Pradesh’s industrial landscape while reinforcing Raymond’s position as a global leader in textiles and beyond.
As Raymond continues to innovate and diversify, its Rs 1000 crore investment in Andhra Pradesh is a testament to its vision of growth, sustainability, and excellence.
