Speaking at Walmart’s annual retail tech event ‘Converge’, Judith McKenna, President and CEO of Walmart International, said India has a unique role to play in the global economy, with its deep pool of talent, proven ability to leapfrog existing digital technologies, and extensive manufacturing expertise.
She added that having strong local businesses is the key to Walmart’s success and in line with that strategy, Walmart will continue enabling and scaling up Indian e-commerce major Flipkart and digital payment company PhonePe. McKenna also noted that Walmart is also expanding its ‘Made in India’ export commitments each year and hopes to touch the $10 billion figure by 2027, which in turn helps drive the broader economy.
“Strong local businesses means we are investing in markets to create long term sustainable growth in a way that’s relevant to customers and associates wherever they are in the world. Having strong local businesses is really the key to our success,” said McKenna.
With Walmart global tech, the company is said to be building on what it has learned in India. McKenna noted that global tech is helping Walmart reimagine retail and services across the 24 countries in which it does business.
“Our customers are evolving fast, and we need to stay in stead with them. When you think about how they are shopping today, and what they are shopping for, technology is critical. It is part of how we can provide a seamless customer experience to help people save money today and live better. We are counting on our tech teams and partners to deliver the real value of being powered by Walmart,” she added.
Doug McMillon, CEO of Walmart, also noted that the India-based global tech team of Walmart has built a collaborative and intelligent platform called Element which helps democratise access to all of the AI and ML initiatives within Walmart.