08.26.2021 - By Sudha Singh
A conversation with Sumita Ghosh, Founder Rangsutra on building a sustainable social enterprise: Sumita Ghosh my guest on this episode of The Elephant in the Room podcast is the founder of Rangsutra - a social enterprise working with artisans in rural India. A Fulbright Scholar and the recipient of the MacArthur Fellowship for Leadership, Ghosh set up Rangsutra with a goal of bringing about socio-economic development and inclusive growth to rural India by engaging both the community and market.
But, the venture almost didn't take off because a leading public sector bank refused to give her a loan since she did not have collateral. A determined Sumita raised the seed funding from a 1000 artisans who she had worked with in the past. Today, Rangsutra is co-owned by 2000 artisan shareholders along with Ghosh, Social Venture Capital Fund Aavishkaar and Fab India's Artisans Microfinance.
Sumita's ambition for Rangsutra is to be a global brand but also to show the world that there is a way of doing business, which is good for all. In India the partnership with FAB India and IKEA who have a similar value system has helped Rangsutra to grow from strength to strength.
Listen to her Sumita speak about her journey.