PWIP FOODTECH PVT LTD
Digitizing the $50 BN+ rice industry from India
Written By Gulshan Parveen
To understand the gravity of the need to digitize the $50 BN+ rice industry from India, how about a scenario that India exported INR 70,000 CR (or $10 BN) worth of rice in 2020, but in reality, majority or almost none of the rice importers even know from which rice mill in India did the rice come from.
This was the most unsettling part to Dhanraj Kidiyoor (Co-Founder & CEO) and Prithviraj Kidiyoor (Co-Founder & CFO) – PWIP. Conceptualized in the year 2019 PWIP is an innovative platform to solve the issues of all the rice trade ecosystem partners in both domestic and international markets. The founders, with their 5+ years of exceptional experience in rice exports and other agricultural products, have identified major loopholes in the market and established the company to offer a helping hand to the people struggling in the industry.
In present times, rice exports with other agricultural products are being done in a traditional way across the country- where numerous individuals and organizations are cutting the shares of the realm and ultimately increasing the final cost to consumers. Each of the middlemen brings extreme price and quality manipulations in the market that hinder rice millers from reaching their full potential.
There is a tsunami of Digitization across the globe yet, India is facing a lack of platforms for these small traders to empower themselves and stand out in the digital world. And here, PWIP comes into the picture, which is an exclusive platform assisting exporters, importers and millers who can build their profile and look forward to their potential buyers and sellers across the globe. In addition, the platform eliminates trade manipulation that has been occurring for ages in the industry and makes the process convenient by assuring the quality, value chain, and logistical support to the clients. PWIP also acts as an educational and informational platform where millers stay updated with the latest news related to rice trade & exports.
Almost every industry out there is connected through a varied number of platforms on the internet- but there is no such platform as PWIP providing services in the rice industry particularly, across the country. Moreover, the company is relentlessly improving its application with development and quality performance to attain better satisfaction. It is piloting the agriculture industry with rice as a commodity product and planning to adopt other food and agro commodities.
CONVERTING CHALLENGES INTO OPPORTUNITIES
PWIP has faced various challenges and obstacles in analyzing and understanding the needs and wants of millers and exporters in the realm and has overcome them with great spirit and efficient services. Initially, reaching out to the users across the country and the world while gaining their trust was a major issue for the company, but presently it has expanded the network with 9000+ users on the platform and tremendously scaling up the success ladder.
PWIP has targeted clients through Digital and direct marketing and is onboarding many more using campaigns and executive calls. Also, the government is playing a key role in the rice sector by imposing numerous rules and policies in the arena that is directly assisting PWIP to perform even better in the market. The company is extremely confident that every upcoming initiative from GOI will only add more value and strength to the farming community and the agroecosystem as a whole.
CULMINATION
The devotion to innovation, modernization, and improvement of the founders promises exciting future endeavors of PWIP. One such plan is to capture the whole Indian market by having all the rice millers on its platform in the next 5 years making itself a hub of rice source for any importer or exporter in the rice trade globally.
“Opportunity and timing play a vital role for every startup to scale up in the market, and every failure is a step towards success. As they say, ‘It’s not over until it’s over’- I have experienced myself that you just need to keep trying every single day. Even if you are drowning till your neck, you should keep your head high as your opportunity can pull you up any moment, so keep going,”- Dhanraj Kidiyoor. PWIP will continue to leverage its deep collective understanding of the agricultural industry to provide advanced solutions, optimizing the way we use and consume.
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