Walmart will triple its sourcing of goods from India up to worth $10 billion per year by 2027, executive vice president, sourcing, Walmart Inc, Andrea Albright said on Tuesday.
She said that the company has sourced goods worth over $30 billion from the Indian market in the last two decades for its global operations, Walmart is encouraging MSMEs (micro, small and medium enterprises) and entrepreneurs with proper training and believes that there is a tremendous opportunity to continue to contribute to India’s growing economy, she said.
The company has been doing business in India for the last 25 years, Albright said while speaking at the Walmart Growth Summit.
“Investing in high growth markets like India helps us strengthen our relationships with established suppliers, but also developing relationships with new ones to build long-term surety and diversity and global supply,” she added.
Under its Walmart Vriddhi initiative, which is designed to support MSMEs in modernising, expanding, and reaching their domestic ambitions, the company has trained 50,000 people so far, Albright added.