Bhilwara, popularly known as Vastranagari, continues to strengthen its position as one of India’s most important textile manufacturing hubs, supported by a robust MSME ecosystem and strong export momentum. M1xchange, India’s leading RBI-licensed Trade
Receivables Discounting System (TReDS) platform, aims to support Bhilwara’s growing textile cluster by enabling faster, collateral-free access to working capital for businesses through invoice discounting.
With the city’s textile industry clocking an annual turnover of nearly ₹25,000 crore and yarn and fabric exports valued at approximately ₹3,800 crore, Bhilwara presents a significant opportunity forstruct ured, timely working capital solutions for textile MSMEs. Bhilwara accounts for nearly 50% of India’s polyester fabric production, housing over 850 manufacturing units engaged in cotton, polyester, silk, and woollen fabrics. The city’s textile ecosystem generates direct employment for about 85,000 people and indirect employment for another 60,000, underscoring its critical role in Rajasthan’s industrial and socio-economic development. M1xchange aims to bridge the working capital credit gap with digital solutions to fuel the growth of the MSMEs in the region. Currently industries such as agriculture, textiles, infrastructure, metals, and minerals stand out as the important growth drivers for M1xchange in Rajasthan.
As one of the India’s leading RBI-licensed TReDS Platform M1xchange has already onboarded over 10% of its total corporate participants from Rajasthan, along with nearly 8% of its MSME participants. The state contributes close to 10% of M1xchange’s overall business, with Bhilwara alone accounting for nearly 40% of Rajasthan’s share.
“Manufacturing-led clusters like Bhilwara require solutions that work for the entire value chain, from large textile corporates to their MSME suppliers. By onboarding more anchor corporates on TReDS, M1xchange enables them to optimise cash flows, strengthen vendor relationships and improve payment discipline, while MSMEs benefit from early access to payments without collateral. This liquidity allows smaller businesses to invest in capacity, technology and scale with confidence. Our focus is to expand corporate participation alongside MSMEs in Rajasthan, creating a more efficient and resilient textile financing ecosystem.” said Sundeep Mohindru, Promoter & Director of M1xchange.
M1xchange intends to increase MSME and corporate participation across the region to strengthen access to timely and affordable liquidity. Till date, M1xchange has facilitated INR 260,000+ crores worth of invoice discounting with more than 70,000 MSMEs, 5000+ Corporates and 70+ Banks & NBFCs on the platform. The company is near to achieving its target of INR 125,000 crore in throughput value (total value of invoices processed) by March 2026, higher than INR 78,000 crore in FY25. Additionally, M1xchange is the first to expand the scope of TReDS with its innovative Small-to-small financing initiative. This initiative has successfully brought tier 2 and tier 3 MSMEs into the formal credit system, enabling them to benefit from early payments without collateral at competitive rates.
By leveraging its end-to-end digital TReDS platform, M1xchange aims to support Bhilwara’s MSMEs in strengthening liquidity, improving credit discipline and accelerating formal credit adoption across the textile value chain.