Vijaypat Singhania, the prominent industrialist who transformed Raymond Limited into one of India’s leading textile companies and was honored with the Padma Bhushan, has died, according to family sources. He was in his 80s.
Singhania, who served as chairman of Raymond for several decades, was credited with modernizing the Mumbai-based company and establishing it as a household name in men’s formal wear. Under his leadership, Raymond expanded from a small textile mill into a diversified conglomerate with interests in textiles, apparel, and engineering.
Beyond his business achievements, Singhania was known for his adventurous spirit and record-setting exploits. In 2005, he set a world record for the highest hot air balloon flight, reaching an altitude of 69,852 feet over Mumbai. The feat earned him recognition in the Guinness Book of World Records and demonstrated his passion for aviation and adventure sports.
“He was a visionary leader who believed in pushing boundaries, both in business and in life,” said a textile industry analyst familiar with his work. “His contributions to India’s textile sector will be remembered for generations.”
The government honored Singhania with the Padma Bhushan, one of India’s highest civilian awards, in recognition of his contributions to trade and industry. He was also involved in various philanthropic activities throughout his career.
His death marks the end of an era for Raymond Limited, which has been a cornerstone of India’s textile industry for decades. Industry observers expect the company to continue his legacy of innovation while navigating the challenges facing India’s traditional textile sector in an increasingly competitive global market.