Wal-Mart has committed to enhancing the skills and capability of women entrepreneurs in the State as part of its development programme for women-owned businesses.

Wal-Mart CEO and President Kris Iyer speaking at the Invest Karnataka 2016 - global investors meet, said globally, the company aims to procure $20 billion worth of products for the US market from women owned businesses. For international markets, the aim is to to double the sourcing from women owned businesses.

As part of the strategy to empower women, the company plans inclusion and training programmes for one million women.

Srikant Rao, Chairman, WeConnect International India and Managing Director, Procurement Asia Pacific, said a business opportunity of $1 trillion was available globally, of which $500 million should be captured by WeConnect network, which has already tied up with IDM, Cisco, Intel, Wal-Mart and other companies.

Jitendra Chaddah, Director Intel, said the IT giant with a total global turnover of $54 billion planned to increase the supply base from women owned enterprises to $1 billion by 2020.

“The company would encourage and develop women enterprises with a $125 million fund and also provide technical and innovative solutions,” Chaddah added.

PTI reports : The company will be opening 10 cash and carry stores in Karnataka. “Today we signed an agreement with Karnataka government to open ten cash and carry stores in Karnataka,” Iyer said.

Correction

An earlier version of this news report had an erroneous reference to the company's business turnover. The error is regretted.

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