Walmart Inc. Global CEO and President Doug McMillon on Tuesday reaffirmed the company’s long-term commitment to India, adding that it is rare to see a “big economy” growing so fast and creating opportunities for so many. He reiterated Walmart’s ambition to ramp up annual sourcing to $10 billion from India and said that “good progress” has been achieved in this regard.

Speaking at an event organised to showcase Walmart’s various businesses in India, McMillon noted that the company has had a long-standing relationship with the country. “I have been coming to India for a long time now. If you come back again and again over the years, you can see how the story is unfolding, and it’s really broadening and becoming much more interesting,” he added.

“ We have a long term point of view that you can see that for the many years that we’ve been here, and you can expect that to continue. We see the growth in India. We see entrepreneurship happening here. We get to do business all over the world and it’s rare to have such a big economy growing so fast and creating so much opportunity for so many and we want to be part of that process....to strengthen the country, to serve its citizens, and to demonstrate that we’re a trusted partner across all these broad dimensions and hopefully many more into the future,” he added.

Flipkart, PhonePe and Vriddhi driving local growth

Stating that Walmart has had a presence in India for over 20 years, he noted that the retail giant began its India journey by sourcing products across limited categories. “But look at what’s happened with our sourcing busieness its grown a lot and now we have this goal of getting to $10 billion a year, which is a really big number...and together with the supplier community, we’re working to achieve that.We’re excited about the progress that we’re seeing there,” McMillon added.

In 2020, Walmart announced its goal to triple annual sourcing from India by 2027. Last year, Walmart said it had sourced goods worth over $ 30 billion from the Indian market in the last two decades.

Walmart Global Tech (formerly known as Walmart Labs) began operations in India in 2008, with the team in India helping its customers around the world. “ That’s grown a lot to becoming a very important part of the company, driving a lot of innovation,” he said

McMillon highlights India’s fast-growing economy and talent pool

In 2018, Walmart picked up a majority stake of about 77 per cent in Flipkart. On the Flipkart and Phonepe businesses, he said that the “job that our teams have done to grow those businesses over the years has been inspiring.”

“We’re really learning a lot from those businesses, the ability to innovate, the ability to move with speed, the ability to serve more and more customers, to develop sellers, to build an E-Commerce marketplace, business that has just a really bright future and the chance to create a lot of opportunity for everyone,” McMillon added.

“Then a financial services business that already reaches a lot of people and helps us make things more efficient and easier. We’re very proud of what’s happening with the Phonepe business, the engagement that we have to help people learn.... whether it’s small businesses, the work we do with Vriddhi or the work we do with farmers. I’m really excited to hear about the work that’s happening with agriculture,” McMillion noted.

On a two-day visit to India, McMillion interacted with teams from various businesses, including Flipkart, Flipkart Minutes, Myntra, Phonepe, Walmart Global Tech and Walmart Sourcing. He also interacted with some sellers as well as beneficiaries of its various initiatives including the Walmart Vriddhi programe

Published on June 24, 2025