Walmart, Flipkart partner with Uttar Pradesh govt to support and uplift MSMEs
Under this initiative, Walmart and Flipkart will team up with the Export Promotion Bureau to digitise small businesses and also help them sell their products in the global market.
US giant Walmart and ecommerce platform have signed a Memorandum of Understanding (MoU) with the Export Promotion Bureau, Government of Uttar Pradesh, to create a budding ecosystem for local micro, small and medium enterprises (MSMEs).
Under this initiative, the two companies will together team up with the state government to digitise small businesses and also help them sell their products in the global market through online channels.
Commenting on this development, Sidharth Nath Singh, Minister of MSME, Investment and Export, Textile, Khadi and Gram Udyog, Government of Uttar Pradesh, said, “MSMEs from Uttar Pradesh are being recognised the world over, registering record exports this year. With schemes like Ubharte Sitaare and ODOP, the Government of Uttar Pradesh is at the forefront of developing a vibrant ecosystem for the MSME sector in the state, helping them boost exports and venture into new markets."
He further added that this collaboration "shall provide our guidance and support required to strengthen MSMEs to achieve greater success through the programme.”
Jagjeet Harode, Senior Director and Head – Marketplace, Flipkart, further added that the ecommerce giant's partnership with the Government of Uttar Pradesh on the ODOP scheme has been a huge success, registering 52 percent quarterly growth since January 2020, across various product categories.
Nidhi Munjal, Vice President of International Partnership Services, Walmart noted that they aim to triple exports from India to $10 billion annually by 2027 and want to continue to help Indian small and medium businesses in finding a place in the international market.
Walmart Vriddhi Supplier Development Programme (Walmart Vriddhi) was launched in 2019 with the aim of training 50,000 MSMEs and equipping them with the skills, knowledge and technology to become future-proof. In the past, it has organised various seminars and workshops for MSMEs. It also provides various learning platforms with the help of e-institutes set up in Panipat and Agra.
According to research firm IBEF, India is home to about 6.3 crore micro, small and medium enterprises (MSMEs). They form the backbone of the Indian economy, contributing 48 percent to India’s exports, making them a major revenue generator for the country.
Edited by Kanishk Singh