Walmart to sync Indian MSMEs to global sourcing programme
Walmart Inc has announced the creation of the Walmart Vriddhi Supplier Development Program (Walmart Vriddhi) to train and prepare 50,000 Indian small businesses to ‘Make in India’ for global supply chains. Walmart Vriddhi will actively work with India’s micro, small, and medium-size enterprises (MSMEs) to expand domestic capabilities and participate in the global economy.
Suppliers who have the desire and potential to grow will get the tools they need through Walmart Vriddhi. Over the next five years, MSMEs will receive in-person training, a feature unique to this programme, as well as expert advice, access to Walmart’s deep global experience, and a network of peers and mentors in their local communities.
Participants will be equipped for both online and offline growth, helping them with tools to potentially become a part of the supply chains of, Walmart Global Sourcing, and Walmart India, or those of other domestic and international companies.
Judith McKenna, President and Chief Executive Officer of Walmart International, says, “The Vriddhi programme will encourage Indian suppliers to make for online and offline customers around the world, including – but not limited to – the supply chains of Flipkart and Walmart. That openness makes us unique and can truly create opportunities for those who participate. Whether a supplier has ambitions domestically or around the globe, Walmart Vriddhi will give them the tools they need to succeed.”
Walmart Vriddhi leverages the Walmart international ecosystem and the local knowledge of partner Swasti, an India-based non-profit organisation with deep expertise and a strong track record in community development. The new programme will connect the network of supplier development communities that Flipkart and Walmart already have today in India, expanding and accelerating existing programmes in MSME training, certification, and onboarding to empower MSMEs to grow and export to new markets.
Walmart believes that helping local suppliers become part of the wider supply chain in India and globally will help create domestic jobs and sustained growth for the India MSME sector. Consumers will be able to access quality goods from India, no matter where in the world they are buying.
“With a mission to empower communities, Swasti is proud to come together with Walmart to prepare 50,000 MSME entrepreneurs to unleash their potential and unlock business opportunities through Walmart Vriddhi. We are excited to help give MSMEs the chance to participate in domestic and global supply chains that will contribute to their profitability and competitiveness and to India’s economic development as a whole,” says Shiv Kumar, Founder and Chief Mentor, Swasti.
Together, Walmart and Swasti will deliver high-quality education via university partners at 25 Walmart Vriddhi institutes across India, making training accessible locally in the communities where India’s MSME entrepreneurs live and work. The institutes will be opened over the next five years at pan-India locations convenient for MSMEs from a wide variety of industries and product categories.
Capacity development is a key pillar of Walmart Vriddhi. MSMEs with the desire and potential to grow will be able to access world-class training and consultation at their local Walmart Vriddhi institute. Business leaders from this group will then be offered tailored training and advisory support to help them further grow in ways that create the greatest opportunities for them.
Training will cover all aspects of business management, promoting customer-centric strategies, and best practices in workforce management and environmental sustainability. It will emphasise empowering entrepreneurs, including women entrepreneurs for long-term success.
Walmart’s Indian entities, including Flipkart, Best Price Modern Wholesale, and Walmart Global Souring, all contribute to the MSME community. Walmart Vriddhi connects these existing efforts to provide a greater impact for the MSME community in India.
For over a million members from small businesses like kiranas, re-sellers, offices, institutions, and restaurants, 95 percent of the sourcing happens from within India directly from farmers and MSMEs.
Walmart has been sourcing from India for more than 15 years. Billions of dollars of India-made goods, including, accessories, apparel, consumables, homewares, and jewellery, have been exported by Walmart. The Bengaluru office sources India products for 14 Walmart markets, including the United States, Canada, Mexico, Central America, and the United Kingdom.
(Edited by Javed Gaihlot)