Walmart is keen to boost Indian exports to $10 billion each year by 2027. This will provide significant boost to micro, small and medium-sized enterprises (MSMEs) in India.
The company said India-made apparel, homeware, jewellery, hardliners and other popular products currently reach customers across 14 markets, including the US, Mexico, Canada, Central America and the United Kingdom through its Global Sourcing office in Bengaluru.
Doug McMillon, Walmart Inc. President and CEO, said that 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,” he said. “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.”
The executive added that its also a way for Walmart to bring more high-quality, India-made goods to millions of customers across the world. The global retailer is set to strengthen the development of the supply chain ecosystem in India, by boosting existing exporters and expanding the nation’s pool of export-ready businesses. Walmart said it brings global market intelligence and demand forecasts that help suppliers with strategic planning
“This support has contributed to the global success of hundreds of companies, including Welspun, LT Foods and Aniket Metals, plus fast-growing export businesses like Global Green Company, and many more,” it said.
Besides retail, the international company is interested in entering India’s food processor sector. In August, Food Processing Secretary A K Srivastava had said that Walmart is showing interest.