Walmart, the global retail giant, has announced its ambitious plan to triple its exports of goods from India to $10 billion annually by 2027. The company said that it has already sourced more than $30 billion in products across categories from India in the last two decades.
Vriddhi Programme
One of the key initiatives that Walmart is undertaking to achieve its export goal is the Walmart Vriddhi programme, which aims to empower 50,000 micro, small and medium enterprises (MSMEs) in India to participate in domestic and global supply chains. The programme provides training and mentorship to MSMEs on various aspects of business development, such as product quality, compliance, sustainability, e-commerce and digital skills.
Walmart, in association with Flipkart, its Indian e-commerce subsidiary, announced this week that they reached their goal of empowering 50,000 MSMEs through the Walmart Vriddhi programme. Rajneesh Kumar, chief corporate affairs officer, Flipkart Group, said that enabling MSMEs and unlocking inclusive growth while creating new jobs and empowering communities, is key to achieving India’s vision of a $5 trillion economy in the next few years.
Walmart Growth Summit
Another initiative that Walmart is hosting to support its export goal is the Walmart Growth Summit, which took place on Feb. 14-15, 2024, in New Delhi, India. The event featured pitch opportunities for export-ready suppliers, innovators and entrepreneurs from 24 states and UTs in India. The participants showcased their products made, grown or assembled in India to Walmart buyers from various markets, such as the US, Canada, Mexico and Chile.
Of the suppliers that participated in the summit, more than 80 per cent received an invitation to move on to the next round with the potential to join the Walmart Marketplace, an online platform that gives sellers access to millions of customers in different countries. The summit also explored potential solutions to challenges in Walmart’s value chain with innovators and startups that have cutting-edge supply chain technologies.
Walmart’s export goal from India is part of its broader commitment to source $350 billion in products made, grown or assembled in America over the next 10 years. The company believes that India has a lot of expertise and potential in categories such as food, consumables, health and wellness, general merchandise, apparel, home and toys.
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