Walmart to source $10bn worth of goods annually from India by 2027
Walmart Inc (NYSE: WMT) has opened application process for the company’s first Growth Summit in India, offering export-ready suppliers, micro-, small- and medium-size enterprises (MSMEs), cross-border trade suppliers, and innovative supply chain companies an opportunity to pitch for business.
With a goal of accelerating progress towards Walmart’s commitment to triple its exports of goods from India, the Walmart Growth Summit will be held on 14-15 February 2024 in New Delhi. Registration for the event is open from 9 Nov through to 11 Dec 2023.
The two-day event will bring together Indian companies and several dozen Walmart buyers from the United States to evaluate their products for export, with buyers offering real-time, on-the-ground deals and prospects.
Aligned with Walmart’s commitment to annually source US$10 billion of goods from India by 2027, the goal of the event is to partner with the Make in India initiative, increasing exports across categories where India has expertise including food, consumables, health and wellness, general merchandise, apparel, shoes, home textiles and toys.
The event will further enhance Walmart’s efforts to support India’s ambition to develop the country’s supply chain to be a leading participant in global markets, bringing together the Walmart sourcing innovation team and India-based supply chain innovators.
“A purchase order from Walmart can have ripple effects in communities often enabling suppliers to create new jobs and expand local manufacturing. We’re excited to host this event and believe it will be the first of many.”
A key supplier to Walmart globally, Anoop Bector, Managing Director, Mrs. Bector’s Food Specialities Ltd, said, “Walmart’s unwavering commitment to Indian suppliers has provided our company with resources and opportunities to showcase our products on a global scale.
“Walmart has been an invaluable partner in our story of global growth, through tailored training programs, expansive marketplaces. Mrs. Bector’s Food Specialties is one of India’s leading companies in the premium and mid-premium biscuits & bakery segment under the brand ‘Cremica & English Oven’.”
Walmart’s commitment to India is not new, with the company already exporting products across a range of categories since the 1990s.
The company, in association with Flipkart, also continues making progress in growing and training MSMEs through Walmart Vriddhi, a program launched in 2019 to empower 50,000 entrepreneurs to participate in domestic and global supply chains. And in 2022, Walmart recruited sellers for items for the company’s online marketplace, an effort that drew interest from more than 650 Indian MSMEs.
Amitesh Jha, Senior Vice President – Category and Marketplace, Flipkart Group, said, “We are happy to participate in this pioneering initiative of the Growth Summit, aimed at boosting exports from India and driving market access for MSMEs.
“The Flipkart Group is focused on helping MSMEs and small businesses leverage the power of e-commerce to accelerate their growth by providing access to new markets and customers, built on a strong technology backbone.
“The Growth Summit aims to give these businesses a view into the opportunities that exist internationally and provide further impetus for the growth and prosperity of the Indian MSME ecosystem.”
