Dared To Dream Big

Minaxi started her career as a machine operator at a garment manufacturing firm in 1983, but this wasn't what she wanted to be for the rest of her life. The entrepreneurial bug bit her and only a decade later, she started her own exports business. Since then, she hasn't looked back.

Manisha Choudhari | March 2016 Issue | The Dollar Business

Minaxi Inder Rathore, Proprietor, Adishma Exports

What once started out as a small fabrication unit with five machines has now made a mark for itself in home furnishings and handicrafts exports from India. But taking Adishma Exports from a firm with just two employees to where it is today, the journey hasn’t been a cakewalk for Minaxi Inder Rathore, who started the venture in the late 1990s. The start was tough. She could not get a loan from any bank and had to rely on advance funds received from buyers to meet her firm's working capital requirement. Adishma Exports started out as a subcontractor to other exporters but as Minaxi and her team gained confidence, the company started receiving export orders directly. And as they say, "Fortune favours the brave", a few years into the business and through toil and innovation, Minaxi had won the Export Promotion Council for Handicrafts' Woman Entrepreneur of the Year Award (in 2004). Since then there has been no looking back, for both Minaxi and Adishma Exports.

According to Minaxi, she was never worried about doing the work and fulfilling an order, it was only the thought of getting initial buyers that kept her up all night. The initial conversions happened and the lady who began her career as a machine operator at a garment manufacturing firm began writing her happy story to success. She tells TDB how in her old company, when other women would use buttoning machine to fix 125 buttons an hour, she would fix 250. “The people there would say since Minaxi works for the company, it will surely grow," she reminisces, adding that “they wanted me to go to China, but my father was against it as I was still unmarried”. Ask her how it feels to be an employer instead of an employee, she beams as she explains how she loves the feeling. She has a very small staff, but everyone that has ever joined her has stayed. A 0% attrition rate – unbelievable!

Adishma Exports today boasts of a wide array of products – from handicrafts and home furnishings to ladies wear, but she isn’t satisfied. She is currently trying to expand to hotel and hospital linens, and grab a government tender or two. Her products are also available on all leading e-commerce platforms. What's more? She plans to launch her own website soon. When asked about her children and their interest in her business, she shrugs, “I want them to pursue their own interests”. While many people say that you have to fail to succeed, Minaxi claims she has never failed; she is perhaps an example of “success without failure”.

TDB: You started Adishma Exports about two decades ago. How has been your journey so far?

Minaxi Inder Rathore (MIR): I used to work at a hardware company – first as a machine operator, then a supervisor, and then I rose to the rank of a production manager. I started my company in 1996 as a fabrication unit. After I found a French buyer, I started Adishma Exports. Adishma is the name of my family – my son Aditya, my daughter Aashna, my husband I. S. Rathore, and my own name. Through exhibitions and support of my buyers, I was able to grow as an entrepreneur and an exporter. My journey had constant challenges, but the reason I am still pulling through is because I refuse to give up.

TDB: What is the toughest challenge you have faced till date? How did you overcome it?

MIR: Every new assignment is a tough challenge. There was this one time, when we had to ship an impossible amount of boxes in a very limited time. To ensure I met my target, I got my family working to meet the delivery timeline.

TDB: Being a woman also means having to give time to other commitments. Has that ever affected your work?

MIR: Partially yes, but I am very lucky to have a very understanding family. It can get difficult, as there is a limited period for exports. Being a woman, there are always problems like coming in late, worrying for your family, and thinking of your social image. But yes, I don't have to be answerable to everyone. I have faced many problems, and at times, my children have also suffered. There are familial and social responsibilities that women have to fulfil, but with the support of my in-laws and my husband, I was able to continue my business without hurting my family life.

TDB: In recent times, the handicrafts sector is one of the few sectors that has seen an increase in exports. How has your company's exports grown in the last two years?

MIR: The last two years have rather been quite challenging as economic growth was poor in some parts of the world, and well-established buyers also took a fall. It has been good, but not great! In this time, I have also started working as a domestic manufacturer, and I am currently supplying to Vishal Mega Mart, amongst other domestic outlets.

TDB: How do you ensure high quality of products?

MIR: We have a five-point quality assurance team which ensures that the products we manufacture are of the highest quality. At present, we don’t have any stock as there are no rejections. The buyers who start sourcing from us always stay with us. And that has actually been the trend till date. In fact, I do all the sampling and collection of textiles directly. I personally look into the production as well. Having been a machine operator, I know how to stitch and where the cuts should be made. I look into the whole sampling to production process myself. I’m not a businesswoman who just sits in her air-conditioned cabin, as I have started my career as a machine operator and was involved in the very basics at the cutting and designing stages.

TDB: Where do you see Adishma Exports in five years?

MIR: I see Adishma not just as an export company, but also as a brand in the Indian fashion market. I am trying to grow enough to employ several more women from across the country. I want to give skilled work to aspiring women from Vatsalya Gram, a charitable trust in Vrindavan. I would like to see them running my company for me in five years. I would like to add here, that it will be good if we can get help from the government, especially when it comes to the acquisition of industrial land. Without regulatory compliance, I cannot find a big buyer. Every foreign buyer requires complete regulatory compliance from the company, but to get an industrial plot there are far too many formalities but not enough support. I would like to see Adishma Exports grow, of course, but that is not possible without the support of the state and central government.

TDB: Which are your top export destinations? Do you face any policy hurdle when it comes to exports? 

MIR: Our top export destinations are Europe, Australia and Dubai. We choose importers who have had some history of adherence to legal policies, so we have never faced any issue. However, Indian policies for exports need to be looked into – the drawback rates have been slashed, but the taxes haven’t been reduced at all. When it comes to exports, you have to pay a lot of taxes like taxes related to cargo handling, etc. Buyers don’t pay us much as they can source similar goods from China at a lower price. Hence, higher taxes make our products uncompetitive. And then there are labour policies – even if you don't use a lot of labour, you still end up paying a lot.

TDB: What would be your advice to budding entrepreneurs, especially women, who want to make a mark in exports?

MIR: As a person, I have never stopped myself from learning. Even if I ask the most common of questions, it is only because I am eager to know the answer. I have always completed orders that I have promised to, even if it meant going out of the way to fulfil them. I have not known failure as I haven’t stopped to understand failure. My advice to budding entrepreneurs is, “If someone else is doing it, you too can."

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