In the next three years, the US retail behemoth Walmart plans to add one lakh more MSMEs to its supplier development program in India, a company official announced on Thursday.
Walmart’s global supply chain and Flipkart’s e-commerce skills will work together to help more MSMEs increase their access to both domestic and foreign markets through the Walmart Vriddhi program’s partnership with the Ideas to Impact Foundation (i2i).
Jason Fremstad, Senior Vice President of Supplier Development-Sourcing at Walmart International, stated, “We are thrilled to announce today that we have partnered with Ideas to Impact Foundation to empower an additional 1,00,000 MSMEs over the next three years as we approach the next phase of the Walmart Vriddhi program.”
The retail company had already established a target of exporting US $ 10 billion annually from India by 2027, and this will help it increase the amount of items it sources from India for its international operations.
Walmart is providing market access and essential business skills to Indian MSMEs through its initiative, enabling them to expand their businesses sustainably and add to the country’s economic success story.
“We are also deepening our support for MSMEs by expanding access to market linkages both nationally and internationally through the Flipkart and Walmart marketplaces,” Fremstad stated.
Walmart Vriddhi was introduced in 2019 and has already taught over 70,000 MSMEs by providing access to digital commerce, individualised mentoring, and strategic alliances.
Participants will gain access, outreach, and program management skills from a strategy developed by Walmart, Flipkart, and the program’s implementing partner, Ideas to Impact Foundation.
“Additionally, we are launching new educational resources aimed at supporting small businesses with sustainability, export preparation, and visual growth. In order to give MSMEs the networks, chances, and knowledge they need to expand, we will keep forming new alliances that link them with ecosystem enablers,” stated Fremstad.
Walmart reported last year that it has sourced goods from the Indian market worth over US $ 30 billion over the past 20 years for its global operations. Walmart has more than 25 years of experience in India. Additionally, by expanding its supplier base and adding new products, Walmart has expanded its sourcing basket in recent years.
