Walmart commits to export $10B 'Made in India' goods each year by 2027
The $10 billion commitment from Walmart to export 'made in India' goods will expand its supplier base in the country and also generate employment.
Global retail giant Walmart has announced that it will triple its goods exports from India to $10 billion each year by 2027.
A statement from Walmart said this commitment endorses India’s continuing rise as a global hub of manufacturing. The new export commitment 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.
Walmart President & CEO Doug McMillon
The expansion in sourcing will include helping develop hundreds of new suppliers in categories such as food, pharmaceuticals, consumables, health & wellness, and general merchandise, along with apparel, homeware, and other key Indian export categories.
Walmart has sourced goods from India for more than 20 years with annual exports worth about $3 billion.
“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,” said, Doug McMillon, president and chief executive officer of Walmart.
He further emphasised that by accelerating exports from India in the coming years, Walmart is also supporting the Make in India initiative and helping more local businesses reach international customers and creating jobs.
Flipkart Group CEO Kalyan Krishnamurthy said,
“Flipkart is proud to work with thousands of Indian brands, MSMEs, and artisans, with a focus on making them successful. We provide a platform that allows them to reach the pan-India market and refine their all-important branding, marketing, logistics and compliance capabilities for the global market, too.”
To accelerate its India exports, Walmart 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-made apparel, homeware, jewellery, hardlines, and other popular products currently reach customers in 14 markets, including the US, Canada, Mexico, Central America, and the United Kingdom, via Walmart’s Global Sourcing office in Bangalore, which opened in 2002.
Edited by Megha Reddy