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regular-article-logo Sunday, 14 April 2024

Walmart focus on MSMEs in bid to acheive 10 billion goods export goal from India by 2027

In a statement issued on Friday, Walmart said that it has already sourced more than $30 billion in products across categories from India

Our Bureau Calcutta Published 17.02.24, 09:43 AM
A Walmart Neighbourhood Market in Chicago

A Walmart Neighbourhood Market in Chicago File picture

Small and medium enterprises are expected to play a key role in global retail major Walmart achieving the $10 billion goods export goal from India each year by 2027.

In a statement issued on Friday, Walmart said that it has already sourced more than $30 billion in products across categories from India.

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“The company, in association with Flipkart, also announced this week that they reached their goal through the Walmart Vriddhi training and mentorship programme to empower 50,000 MSMEs to participate in domestic and global supply chains.

“This week’s event follows a successful 2022 summit where Walmart recruited sellers for the company’s online marketplace, an effort that drew interest from more than 650 Indian MSMEs,” the statement said.

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.

“Alongside Walmart and the Walmart Vriddhi programme, we are proud to support the digital transformation of MSMEs to enhance their growth journey, along with the knowledge they need to scale, uncover new business opportunities and imbibe international best practices,” he said.

Walmart said it has concluded the inaugural India Growth Summit, an event where export-ready suppliers, innovators and entrepreneurs from 24 states and UTs participated in pitch meetings featuring products made, grown or assembled in India. Of the suppliers that participated, more than 80 per cent received an invitation to move on to the next round.

Walmart Marketplace would give sellers an opportunity to reach customers in the US, Canada, Mexico and Chile.

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