GAUTAM SINGHANIA’S physical store-focused retail businesses might have taken a hit by the Covid-19 restrictions, but he remains upbeat about future prospects. Happy with the direction of the latest Union budget and the incentives for textile parks, the Raymond tycoon is not overtly perturbed by the e-commerce wave, with markets opening up, businesses recovering and sentiments on an upward trajectory. Excerpts from an interview:
Q/What challenges did Covid-19 bring for the retail industry?
A/There was a countrywide lockdown, businesses were shut, we really could do nothing. There were no challenges—the whole country was in lockdown! Now that the country has come out of the lockdown, we are seeing very good positive traction out of this.
Again, I would say, some of our businesses are higher than pre-Covid levels, some are at pre-Covid levels. Mostly all our businesses are overriding the Covid levels, which is a good sign.
Q/What are your thoughts on Atmanirbhar Bharat, and how exactly can Raymond contribute?
This story is from the March 07, 2021 edition of THE WEEK.
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This story is from the March 07, 2021 edition of THE WEEK.
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