Characterization is a crucial step in germplasm conservation, as it reveals important information on the traits of the genetic resources, ensuring their maximum utilization by the end users and justifying conservation efforts. Under the increasing effects of climate change, germplasm characterization is gaining prominence, as it is essential to identify the underutilized resources that are potentially resilient to changing environmental conditions. Silkworm, Bombyx mori, an economically beneficial Lepidopteran insect utilized for the production of silk, forms an important part of the agro-ecosystem. The insect, being highly sensitive to external environments, faces a huge threat in the future. The Central Sericultural Germplasm Resources Centre, India, plays an important role of systematically conserving 490 Bombyx mori genetic resources. It comprises a broad genetic base, which is necessary to cope with climate change and maintain silk productivity. This paper discusses the steps taken towards the characterization and evaluation of genetic silkworm resources for unique traits, with an emphasis on their adaptability and tolerance to biotic and abiotic stress through observation, as well as use of molecular tools. The challenges and future strategies of ex situ germplasm conservation through modern techniques like cryopreservation, DNA banks, as well as expanding the genetic base of the collection are explored as a future course of action.