BOMBAY SWADESHI STORES LIMITED was founded in 1905 as ‘The Bombay Swadeshi Co-operative Stores Company Limited’ by Indian Patriot Lokmanya Tilak and eminent industrialist Ratanji Jamsetji Tata. It was established with the idea to promote Indian-made products during the Swadeshi Movement in India. Since then, the store is preserving India’s rich heritage.
In 1995, The company was rebranded as Bombay Swadeshi Stores Limited. Bombay Swadeshi Stores Limited offers a platform for the next generations to know and learn about the country’s culture and history. The company is popular for its artistic products offering. Bombay Swadeshi Stores Limited offers a wide range of artifacts, home decor accessories, bedroom furnishing, tableware & a complete range of fashion accessories. The products offered by the company are the most exclusive range depicting the rich culture and heritage of India.
In FY 2021, Bombay Swadeshi Stores Limited added 11 stores to its network. They added stores across many different cities of the country like Mumbai, NaviMumbai, Bengaluru, Delhi, Hyderabad, Noida(UP), Ahmedabad, Cochin, Indore, and Jaipur, this includes reopening its hotel boutique store at Jaipur. Now the total number of stores has grown to 31 as of 31st March 2020. Bombay Swadeshi Stores Limited was listed on the Bombay Stock Exchange. However, the company delisted itself from the exchange in November 2015.
CIN of Bombay Swadeshi |
U74999MH1905PLC000223 |
Registration Date of Bombay Swadeshi |
11 December 1905 |
Category/Sub-category of Bombay Swadeshi |
Company Limited by Shares |
Bombay Swadeshi Registered office address and contact details |
Western India House, Sir P.M. Road Fort, Mumbai 400 001, Tel: (022) 22885048/49 |
Bombay Swadeshi Registrar and Transfer Agent address and contact details |
Link Intime India Private Limited C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai – 400083, Tel No.: +91-22-4918 6270 |
|
Name and Description of main products/services |
NIC Code of the product/service |
% to the total turnover of the Company |
|
Home Décor, Home Furnishings and gift Items (Retail Trade) |
47 |
100% |
Mrs. Madhu Chandak (Director)
Mrs. Manjri Chandak (Director)
Mrs. Jyoti Kabra (Director)
Mr. Santanu Ghosh (Chief Executive Officer)
|
Name of the Company |
% of shares held |
|
Bombay Store Retail Company Limited |
100.00% |
|
S. No. |
Shareholders’ Name |
Number of shares |
% of total Shares of the company |
|
1 |
Madhu Abhay Chandak (Promoter) |
14,46,818 |
29.28% |
|
2 |
Jyoti Varun Kabra(Promoter) |
14,95,186 |
30.27% |
|
3 |
Manjri Aditya Chandak(Promoter) |
14,46,852 |
29.28% |
|
4 |
Public Shareholding |
5,51,144 |
11.16% |
|
|
Total |
49,40,000 |
100.00% |
The handloom and handicraft industry is the backbone of the rural economy of India, it's the second-largest rural income provider after agriculture and accounts for a significant share of the country’s exports.
Official estimates suggest that India is home to 7 million artisans, however, data from unofficial sources indicate that the number is as high as 200 million. This difference is huge because of the informal and unorganized nature of this sector.
Indian handicrafts are exported to many countries, with the top destinations being the UK, USA, Germany, UAE, Latin American countries (LAC), France, Italy, Canada, Netherlands, and Australia. The items, which account for a major share of export turnover, include - art metalware, hand-printed textiles, woodware, hand-knotted and embroidered textiles, stoneware, leather goods, paintings and sculpture, jewelry, and antique & collectibles. The scope of the handicrafts industry in India is promising - be it traditional Indian arts and crafts or a customized version of an overseas art form. Unlike in the past when the industry was struggling to carve a niche in the market, there is a great demand for Indian handicrafts today that is being nurtured by different government and non-governmental organizations.
Additionally, the Government of India increased incentive rates under the Merchandise Export from India Scheme (MEIS) from 5% to 7% for handicraft items. This will help exporters to recover the input costs involved in the manufacturing of handicrafts and will lead to competitive pricing and boost export.
The industrial revolution and the increasing productivity had slowed down the growth and the quality of arts and crafts, but for some decades now, the scenario has changed and machine-made products no longer attract people. Presently handicrafts are being considered vocational media and it also opts for style statements and leisure pursuits.
