Recently, Target Inc. offered a belated Birthday gift to Welspun Group Chairman Balkrishan Goenka on his 50th Birthday. While Mr. Goenka had lavish birthday celebrations on 12th August at the five-star St. Regis Hotel in Mumbai, Target Inc. offered him a belated birthday gift on 19th August by terminating all business ties to Welspun and in four trading sessions, Welspun India’s market valuation came down to INR 5,700 Cr. ($740 million in market value vaporized) due to cheap quality of products sold by Welspun in the name of Egyptian Cotton.
Now, this mishap also comes at an inopportune time for Indian Prime Minister Narendra Modi, who in June unveiled a nearly $1 billion package for textile and garment makers under his “Make in India” campaign. So, This raises the questions about whether Prime Minister Narendra Modi’s signature “Make In India” campaign will soon be singing the title song of India’s best comedy Television serial below
I also have recently ventured into an e-commerce business after authoring three volumes on revival of Global economies and envisioning a sustainable business model for revival of technology based economies. I have noticed several flaws in Indian Prime Minister Narendra Modi’s “Make In India” campaign which have been well documented in my volumes and I have been warning it since 2014 about failure of such policies.
A recent article published in Huffington post shows the possibility of India experiencing its own version of Dot-com bust, where a Bangalore-based firm has put together India’s first Deadpool list, a catalog of dead or dying startups ( very similar to the F**ked Company …excuse for any profanity but it is quoted from Huffington post) website created in the aftermath of the internet bubble.
In that case, Why did I decide to venture into e-commerce start-up in spite of being fully aware about coming collapse of e-commerce bubble for India. Some of my friends who are making good money with their e-commerce businesses are using the platform of Amazon, buying wholesale goods for cheap from China and selling them to Indian customers. Well, How this process adds to India’s trade deficit is completely ignored by most business who give a F**k about Macroeconomic loses to Country over short term microeconomic profits for their company.
Sustainability is neither a thing that is considered by most entrepreneurs in India due to being driven by short term profits or not having any understanding of how their actions are destroying Indian economy. Does India need such entrepreneurs? I don’t think any country needs such entrepreneurs who do not have a long term vision or goal for their company and their country.
So, How does my e-commerce business differ from what others have to offer and why for “Make In India” to become successful, more companies such as mine need support to create a sustainable ecosystem in India?
Firstly, As a proprietor and then a partner in this business, I know that the road-map for sustainable growth is long and starts yielding any results in long run. We make use of raw materials which are 100% made in India. Our Supply chains directly support the poorest rural communities in India and we offer a unique platform to these villagers to market their products not just nationally but even internationally. By restricting our products and designs to come from a particular village or community, we are helping in economic development of a local economy.
As we are implementing Mass Capitalism based ideas that I have put forth in my three volumes, our procuring partner himself travels to these villages and gets products manufactured on quality cotton and silk garments from reputed companies such a Bombay Dyeing. All the details of how we make these exclusive products can be found in our product descriptions. Because of our confidence in the quality of our custom made handcrafted products, we offer a 2 year limited manufacturer warranty for any kind of manufacturing defects on our products. We also offer a Guaranteed 5 year replacement warranty as an incentive during purchase. I do not know any e-commerce business who offers such a value to their customers.
Secondly, Our team is a collaboration of four small businesses who are driven by a common goal to generate maximum sales and keep costs low. Hence, Sales is something that all partners collaborating help generate besides their specialized role in this business. We manufacture only export quality products and also offer custom stitching of some products as per the needs of our prospective customers. We have the best customized stitching tailoring experts on board with 25 years experience in this industry.
Thirdly, Our Courier Services offer guaranteed delivery to any location in world within a maximum of 7 working days for a flat fee. Besides, We offer weight based shipping to deliver maximum products at best price to our customers which is very beneficial as some products have weight as low as 250 gms. which would let 4 such products be shipped at any international location for the shipping price of 1 kg. Shipping in India is free except for Cash-on-Delivery services. Since, All operations are in India, we do not contribute to any trade deficits for India but believe in retaining our customer base by means of offering quality.
Last but not the least, Since we invest heavily into website development and ensuring quality of our products, we do not sell any of these products on major e-tailers like Amazon, Flipkart,etc. This is because we believe in building a brand for our products and eventually set-up a factory to employ rural villagers who presently work from home to manufacture exclusive products that we have to offer.
Hence, For “Make In India” to become successful, homegrown start-ups which follow a sustainable business model should receive support from not just Indian government but also from Indian citizens. If you read my first volume “Mass Capitalism: A Blueprint for Economic Revival“, I have made some recommendations for improving standard of living in local economies and for this sustainable business outlook is very important. If I do not follow what I have authored then who will do it?
Let the Indian government be aware that I meant to give them a stern warning when I published my article “Make In India Could Collapse Indian Economy“. I hope they consider extending their support to new entrepreneurs who want to take a sustainable path but would face a funding crunch in coming uncertainty in global economy to ensure a sustainable growth of small businesses in Indian economy. In that regard, I do believe that Calcutta Handicraft will prove to be a good example of what means to do an sustainable e-commerce business. Without any focus on sustainability, “Make In India” risks becoming Jaspal Bhatti’s FLOP SHOW!!!