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The primary shareholders of rangSutra are the village artisans themselves. And this is not the most obvious solution. How did you come to adopt this governance model?

We needed capital to start, but philanthropic organizations were unwilling to fund us as we were not a charitable organization. Banks were unwilling to lend us money due to our lack of business experience, and our inability to provide collateral for loans. Then William Bissell of Fabindia (an Indian retail network specializing in clothing, home décor, furniture, textiles, and handcrafted items – ed. note) proposed that artisans put in their own capital, however modest. Without much ado, 1,000 artisans, 800 of them women from the URMUL Trust community tackling poverty, put in trust, talent and a 1,000 rupees each into our venture. Thus was born rangSutra – a community-owned social enterprise focused on producing and selling ethically made, handcrafted apparel and home furnishing.

Later, Aavishkaar (a leading Indian firm in robotics, engineering, and technological education – ed. note) and Fabindia became investors in rangSutra. We also headed a government initiative to conserve traditional handloom weaving and gained support from the United Nations Development Program and the World Bank to establish artisanal and weaving clusters in other states – Uttar Pradesh and Kashmir. More recently, we have partnered with the CSR departments of major Indian corporations.

Who can now become a shareholder in rangSutra, and what does this mean for the artisans themselves?

Individual artisans cannot become shareholders; they have to belong to a group, who work collectively in this sector and are keen to work with us, as part of rangSutra. It is essential to acknowledge that they have their representatives on the company’s board of directors, and they weigh in on crucial decisions of the company.

In hindsight, I can confidently state that the decision to invite artisans to become shareholders was the right one. This has fostered a sense of independence, particularly among female artisans for whom rangSutra shares might be their sole owned asset, as land and family homes are often owned by men. Moreover, collaboration with our company has provided them with personal bank accounts and funds, which they can manage at their discretion.