Kolkata Entrepreneur Transforms Textiles with Government Support
In a remarkable story of determination and innovation, Munmun Biswas, a pioneering entrepreneur from Kolkata, has turned her dreams into reality through the support of the Venture Capital Fund for Scheduled Castes (VCF-SC). Her company, Coeval Crafts Private Limited, embodies the transformative potential of institutional assistance, highlighting the positive impact on both individual lives and the broader economy.
Empowering Change through Entrepreneurship
Founded by Munmun Biswas, who is a first-generation Scheduled Caste woman entrepreneur, Coeval Crafts specializes in digital textile printing and designer fabric manufacturing. Based in Khardaha, West Bengal, the company markets its innovative fabrics under the brand name ‘Indiloom’. With a solid educational background, including an MBA from IIFT Kolkata and a degree in Textile Designing from NIFT Kolkata, Biswas has positioned her business as a frontrunner in the textile industry.
Financial Boost from Government Initiatives
The VCF-SC recognized the potential of Coeval Crafts, providing financial assistance totaling ₹4.93 crore across two key years, 2017 and 2024. This support came in the form of venture capital assistance, including equity and optionally convertible debentures. With this funding, Biswas was able to set up a fully automated digital textile printing facility equipped with cutting-edge machinery to enhance production capacity.
Creating Jobs and Building Assets
The impact of this venture capital support has been profound. Today, Coeval Crafts employs 80 individuals, comprising 60 Scheduled Caste employees and 20 from other backgrounds. The company has successfully built assets worth ₹7.92 crore and generated an annual revenue of ₹3.73 crore, significantly increasing its net worth to ₹2.82 crore. This growth has also enabled the company to forge strong business connections with design houses, exporters, government agencies, and various retail channels, reinforcing its market presence.
Bridging Heritage and Innovation
Reflecting on her entrepreneurial journey, Ms. Munmun Biswas expressed gratitude for the support received, stating, “Through the concessional assistance extended by the Venture Capital Fund for Scheduled Castes (VCF-SC), we transformed a small textile venture into a professionally managed enterprise. With ‘Indiloom’, we blend India’s rich textile heritage with modern innovation, creating jobs and delivering top-quality products across India and beyond.”
Encouraging Inclusive Enterprise Development
The story of Coeval Crafts Private Limited showcases how targeted financial aid can empower Scheduled Caste entrepreneurs, enabling them to establish thriving businesses and contribute significantly to India’s economic landscape. The Ministry of Social Justice and Empowerment continues to play a crucial role in fostering entrepreneurship and promoting inclusive enterprise development, thus creating sustainable livelihoods for countless individuals across the country.
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