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Walmart today announced that it will triple its exports of goods from India to $10 billion each year by 2027. India is already one of Walmart’s top sourcing markets, with annual exports worth about $3 billion
“As an international retailer that brings value to customers and communities worldwide, Walmart understands that local entrepreneurs and manufacturers are vital to the success of the global retail sector. And we see huge potential for Indian suppliers to grow their businesses by leveraging the unique scale and global distribution opportunity Walmart provides,” Doug McMillon, President and Chief Executive Officer of Walmart Inc, said.
“By significantly accelerating our annual India exports in the coming years, we are supporting the Make in India initiative and helping more local businesses reach international customers, while creating jobs and prosperity at home in India. It is also a way for Walmart to bring more high quality, India-made goods to millions of customers across the world.”
To accelerate its India exports, Walmart will strengthen development of the supply chain ecosystem in India.
At the grassroots level, Walmart’s supplier development programme Vriddhi, launched a year ago, is bringing export skills and knowledge to MSMEs to prepare them to succeed as suppliers to Walmart, Flipkart and other companies in India and around the world. The goal is to empower 50,000 MSMEs to Make in India for domestic and global supply chains over five years.
India-made apparel, homeware, jewellery other popular products currently reach customers in 14 markets, including the US, Canada, Mexico, Central America, and the UK via Walmart’s global sourcing office in Bengaluru, which opened in 2002. As the sourcing hub ramps up over the next few years, the local team will be empowered to make an even greater impact for even more local businesses in a range of sectors.
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