The large numbers paint an ambitious picture for the future of the Indian economy. The country’s economy is estimated to become a $10 trillion, and perhaps even $30 trillion, economy within 20 to 25 years. At the Pune-based offices of RAUMART, the three founders, Saurabh Rana, Shrenik Bora and Tejas Changede, understand these national goals and the vital role they play in building their foundation.
Launched in 2021, Rawmart is solving one of the country’s less visible problems – the struggles of small and medium enterprises (SMEs). “Some small or medium entrepreneurs have ideas but no platforms,” Rana says. “Some have the infrastructure, but no orders. Some SMEs have orders, but no capital.” He adds: “If we look at any sector, whether it is the automotive sector, the medical sector or the pharmaceutical sector, we will see that the big companies are doing well, but their vendors still have the same sales volume over the last 10 to 20 years. We wanted to enable SMEs to operate to their full potential because we know that the next phase of growth must happen in this sector.”
Small and medium enterprises, such as vendors and spare parts suppliers, form the core of Indian industry but rarely get the limelight. Lack of interest means that many cannot overcome even the basic challenges required to grow.
“India’s manufacturing lacks innovation, which needs immediate action and upgrading of skills, as per today’s requirements,” says Bora. “India ranks fifth on the manufacturing exports chart, contributing just 2 per cent, while China contributes 35 per cent and the US 16 per cent. Moving up even one step will require two to three times growth, and all this must happen sustainably.”
Rawmart started by supplying steel as raw materials to factories and continues to provide credit, technology and production support to SMEs. “We analyze existing manufacturing processes for SMEs,” says Rana. “We identify bottlenecks, inefficiencies and areas for improvement while working on standardized processes and workflow optimization.”
Customized Products, Rawmart’s newest addition
Today, Rawmart has become a one-stop-shop for small and medium businesses. One can get machine parts, castings, supply chain financing solutions, technical expertise and guidance for design improvement, among others. A new addition is custom products, such as light pallets to carry products made by the pharmaceutical company. For a fast food company, the company manufactured a product for storing potatoes that would be used in a potato chip factory.
“Innovation, quality and sustainability are not just buzzwords – they are the barriers that prevent Indian manufacturing from being truly export-ready. The world no longer rewards low-cost manufacturing, but rather smart, clean and consistent manufacturing. Innovation drives progress, quality builds trust, and sustainability ensures survival. Until we compete on design, precision and responsibility, cost advantage alone will not take us global,” says Chengidi.
Story continues below this ad
Today Rawmart works with more than 200 SMEs and has developed more than 40 manufacturing processes and manufactured more than one million spare parts. More than 300 projects were submitted. “Pune is a manufacturing hub. We have good manufacturing facilities in and around Pune. We want to expand into Tier 2 cities, where we can find good manufacturing facilities to partner with. We want to expand with people who have a growth mindset and are looking to grow in this manufacturing boom and do it sustainably,” says Rana.
Rawmart is turning its attention to sustainability, aiming to replicate its success with organizations working in agriculture or agriculture-related institutions. “We will soon be starting Rawmart Renewables: our biofuels and biomass division,” says Rana. “We want to help industries reduce carbon emissions and use clean energy or clean fuels. We will support the end-to-end manufacturing cycle, making SMEs more empowered, and helping them grow their revenues – and doing so with green energy.”
(tags for translation) Indian Economy
