Trade, import and export for MSMEs: Addressing Indian suppliers and partners across Walmart, Flipkart, PhonePe, Walmart Global Tech and Walmart Sourcing in India, Walmart Inc. President and CEO Doug McMillon on Wednesday underscored the company’s focus on the Indian market to build an ecosystem of suppliers and partners, including small and medium enterprises, to meet its target of exporting made in India goods worth $10 billion each year by 2027.
In 2020, Walmart had announced that it will triple its exports of goods from India to $10 billion each year by 2027 amid the government’s vision to make the country a manufacturing hub. The target was aimed at boosting MSME manufacturers alongside Walmart’s ongoing efforts such as the Flipkart Samarth and Walmart Vriddhi supplier development programmes in India.
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According to a company statement on Wednesday, McMillon along with Judith McKenna, President and CEO, Walmart International met suppliers, merchants, grantees, artisans and MSMEs across key India programs and initiatives of the company in India including Walmart Sourcing, Walmart Vriddhi, Flipkart and Flipkart Samarth, PhonePe, Walmart Marketplace, Walmart Global Tech in India, and the Walmart Foundation.
“Walmart is committed to India and we are here for the long term. We are excited about the Indian suppliers and partners who make quality, affordable, and sustainable products for our customers and members around the world. We are proud that our business can support India’s growth by creating jobs, strengthening communities, and accelerating India’s progress as a manufacturing destination,” said McMillon.
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Walmart operates in wholesale cash-and-carry business, e-commerce, payments and financial services verticals in the country along with logistics and supply chain capabilities. The company had set up its global sourcing office in Bengaluru back in 2002 for Indian manufacturers to sell their products, including apparel, homeware, jewellery, hardlines and more, in overseas markets including the U.S., Canada, Mexico, Central America and the United Kingdom.
Judith McKenna¸ President and CEO, Walmart International, said India has long been a priority market for Walmart. “As a nation that’s set to be one of the world’s largest economies by 2030, we’re excited to have the opportunity to serve as partners in India’s economic development, aligned with the country’s ambitions. We remain committed to creating opportunity, strengthening local communities, and empowering customers, sellers, suppliers and farmers.”