Walmart To More Than Triple Exports Of India-Made Goods To $10 Billion Each Year By 2027

Walmart's new export commitment will significantly boost micro-, small- and medium-sized enterprises (MSMEs) in India, alongside ongoing efforts such as the Flipkart Samarth and Walmart Vriddhi supplier development programs, said a company statement.

(Representative Image/ Getty)

Endorsing India's continuing rise as a global manufacturing hub, the US multinational retailer Walmart plans to more than triple its goods exports from India to $10 billion (Rs 73,721 crore) each year by 2027 from $3 billion (Rs 22,116 crore) now. Walmart's new export commitment will significantly boost micro-, small- and medium-sized enterprises (MSMEs) in India, alongside ongoing efforts such as the Flipkart Samarth and Walmart Vriddhi supplier development programs, said a company statement. The expansion in sourcing will include helping develop hundreds of new suppliers in categories such as food, pharmaceuticals, consumables, health & wellness, general merchandise, apparel, homeware, and other critical Indian export categories. "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," said Doug McMillon, president and chief executive officer of Walmart Inc. "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 all across the world." To accelerate its India exports, Walmart will strengthen India's supply chain ecosystem, both by boosting existing exporters and expanding the nation's pool of export-ready businesses. "Flipkart is proud to work with thousands of Indian brands, MSMEs, and artisans, with a focus on making them successful. We provide a platform that allows them to reach the pan-India market and refine their all-important branding, marketing, logistics, and compliance capabilities for the global market, too. We applaud Walmart for investing to help Indian companies take Make in India products global," said Kalyan Krishnamurthy, chief executive officer of Flipkart Group. Walmart has sourced goods from India for more than 20 years, supporting local suppliers to help upgrade their operations and meet international standards, develop new product lines and build new capabilities in packaging, marketing, supply chain management, and more. Walmart brings global market intelligence and demand forecasts that help suppliers with strategic planning. This support has contributed to hundreds of companies' international success, including Welspun, LT Foods, and Aniket Metals, plus fast-growing export businesses like Global Green Company and many more. "Since we became a Walmart supplier in 1998, Welspun has grown to become the world's largest home textiles manufacturer, exporting 94% of our output and employing 20,000 people, 25% of whom are women," said Dipali Goenka, chief executive officer and joint managing director of Welspun India. "Most significantly, businesses are agents of change, and we have been able to leverage our relationship with Walmart to sharpen our focus on quality, sustainability, and diversity & inclusiveness. Welspun is a homegrown brand that exemplifies the Make in India story internationally. Also, we have stood together as partners during challenging times. With Walmart's expanded commitment to Indian suppliers, we know we are leading tomorrow together." At the grassroots level, Walmart's supplier development program 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 is already one of Walmart's top sourcing markets, with annual exports worth about $3 billion. India-made apparel, homeware, jewellery, hardlines, and other popular products currently reach customers in 14 markets, including the US, Canada, Mexico, Central America, and the United Kingdom, through Walmart's Global Sourcing office in Bangalore, 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 more significant impact for even more local businesses in a broader range of sectors.