Walmart plans to triple Indian exports to $10 billion by 2027
By Retail4Growth Team | December 11, 2020
The new commitment to export $10 billion of India-made goods each year by 2027 is expected to provide a significant boost to micro, small and medium-sized enterprises (MSMEs) in India
Global retail major Walmart is set to triple its exports of goods from India to $10 billion each year by 2027.
The new commitment to export $10 billion of India-made goods each year by 2027 is expected to provide a significant boost to micro, small and medium-sized enterprises (MSMEs) in India, alongside ongoing efforts such as the Flipkart Samarth and Walmart Vriddhi supplier development programmes.
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, the company said in a statement.
Announcing the commitment, Walmart Inc President and CEO Doug McMillon said 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.
"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, he added.
In order to accelerate exports from India, Walmart said it will strengthen the development of the supply chain ecosystem in the country, both by boosting existing exporters and by expanding the nation's pool of export-ready businesses.