In germplasm conservation, characterization plays a vital role in revealing key information about the traits of genetic resources, enabling their better use by stakeholders and validating the efforts invested in their conservation. With the growing challenges posed by climate change, characterization has gained even greater importance, as it helps identify underutilized resources with potential resilience to changing environmental conditions. The mulberry silkworm (Bombyx mori), a commercially important Lepidopteran insect for silk production, is an integral part of the agro-ecosystem. However, its high sensitivity to environmental changes makes it vulnerable to possible extinction in the future. The Central Sericultural Germplasm Resources Centre, under the Central Silk Board, India, is entrusted with the systematic conservation of 490 Bombyx mori genetic resources of diverse origins, many of which possess the capacity to adapt to climate change and enhance silk productivity. This paper outlines various methods for characterizing and evaluating trait-specific silkworm genetic resources, focusing on their adaptation and tolerance to biotic and abiotic stresses through both phenotypic assessments and molecular tools. It also discusses the challenges and future directions of ex-situ germplasm conservation, highlighting advanced techniques such as cryopreservation, DNA libraries, and expansion of the genetic base as potential strategies for long-term sustainability.