Vijaypat Singhania, former chairman of Raymond, passed away in Mumbai on Saturday evening at the age of 87, as confirmed by his family in a statement. (Screengrab from X/PTI) Gautam Singhania, the 87-year-old’s son and current chairman and managing director of the group, announced the death in a social media post on ‘X’. A Raymond Group spokesperson stated that Singhania passed away “peacefully” in Mumbai, with the last rites scheduled for Sunday. He led Raymond for two decades. Vijaypat Singhania, a Padma Bhushan recipient, served as Raymond’s chairman for two decades until 2000. After resigning, he passed the company’s leadership to Gautam Singhania and transferred his entire 0.003 percent stake in the firm to his son. Beyond his business achievements, Singhania was an avid aviator who set a world record for the highest altitude reached in a hot air balloon. Vijaypat Singhania assumed the role of chairman and managing director of the Raymond Group in 1980, years before India’s 1991 economic liberalization transformed the consumer market. His leadership at that time enabled the textile giant to remain resilient while numerous legacy brands faltered in adapting to shifting economic conditions. In business, Singhania guided Raymond’s diversification beyond textiles into areas like synthetic fabrics, denim, steel, industrial files, and cement. Singhania transferred control of the Raymond Group to his son Gautam Singhania in 2000, yet stayed involved in public affairs for years afterward. Corporate leader with a passion for adventure. Outside the boardroom, Singhania distinguished himself with his passion for aviation and adventure. Renowned for challenging boundaries, he crafted a dual persona as an aviator and explorer, frequently performing daring exploits. His successes in business and adventure earned him nationwide acclaim, such as the Padma Bhushan and the Tenzing Norgay National Adventure Award. In November 2005, at age 67, Singhania established a world record by reaching approximately 69,000 feet in a hot air balloon. In 1988, years prior, he accomplished a solo microlight flight from London to New Delhi in 23 days, establishing a speed-over-time endurance record. The Indian Air Force also acknowledged his aviation contributions by awarding him the honorary rank of Air Commodore in 1994, following more than 5,000 accumulated flying hours.
