Taking help from the Central Silk Board, Ministry of Textiles, Reshamandi brought together farmers together to give them market linkages
The people of India are obsessed with silk. Many love the fineness in its quality, and since it is produced in the home country, its quality is guaranteed. Silk is one of the most sought-after materials that us the best choice for occasions and is expensive, that represents class. The fiber is natural, soft, lustrous, and shiny. The Indian economy has a trade deficit of this material. Hence, as a result, production is utilized completely, and also the fabric and its yarn are imported.
Saurabh and Mayank planned to start something around the supply chain of Natural Fibres. They very well researched the different aspects of the Handicrafts and Handloom industry. They researched all possible angles, but were sure about a few things. They wanted to remain in the Supply Chain game and wanted to bring technology to the untouched natural fibre industry. Since they both belong to the technology background, they planned to stay in the digitized supply chain. They further planned to harness technology to produce transparent, robust, and inexpensive solutions for silk's supply chain.
Taking help from the Central Silk Board, Ministry of Textiles Reshamandi brought together farmers together to give them market linkages. The digitized setup helped farmers fetch better price through scientific testings, precise advisory and reduced logistics costs. This is how Resha Mandi was born. Mayank had the idea of conceptualizing the supply chain when he was in NIFT Mumbai. He discovered that the supply chain of finer fabrics has issues in India, and he desperately wanted to fix them so that the fabric doesn't cost much.
While doing projects for his educational stream, he realized that there is immense potential in sourcing things directly from the producers. Traders earn huge profits in between, and this is how the cost of things go up. Reshamandi currently is operating with more than a hundred farmers and more than 50 active clients who are buying from the venture. It was an exciting journey which gave immense pleasure to the owners.
The Silk Market in India has flourished over the years and continues to grow at almost 4-5% year after year. Even after gaining so much popularity, the industry is still unorganized. Reshamandi is a venture that is helping the silk supply chain of India turn into a digitized one. It also helps to create an ecosystem for both sericulture farmers and silk reelers. The output capacity of silk is enhanced considerably via inputs that are highly grain inputs.
The primary aim of Reshamandi is to connect the huge network of farms directly to the reeler community via several techniques used. A few of them include fair pricing, scientific testing, optimized logistics, etc. Hence, it efficiently provides predictive sales figures to the reelers. The sourcing hubs of this venture are currently located in and around Bangalore, but they aim to expand more in around ten more clusters by the end of 2020.