Dec 14, 2020
Walmart – the U.S headquartered retail giant is going to triple its exports from India to $10 billion each year by 2027. It said that the expansion in sourcing will include helping develop new suppliers in categories such as food, pharmaceuticals, consumables, health, and wellness, and general merchandise, along with apparel, homeware, and other key Indian export categories.
It added that the new export commitment is expected to provide a significant boost to micro, small and medium-sized enterprises in India, alongside ongoing efforts such as the Flipkart Samarth and Walmart Vriddhi supplier development programmes.
The giant retail firm will significantly accelerate the annual India exports in the coming years, Walmart is 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 said it will strengthen the development of the supply chain ecosystem in India, both by boosting existing exporters and by expanding the nation’s pool of export-ready businesses.India is already one of Walmart’s top sourcing markets, with annual exports worth about $3 billion. It 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.