Walmart on Thursday announced that it will triple its exports of goods from India to $10 billion each year by 2027.
Walmart will strengthen development of the supply chain ecosystem in India by boosting existing exporters and by expanding the nation’s pool of export ready businesses.
Benefit
Walmart’s new export commitment will provide a significant boost to micro-, small- and medium-sized enterprises (MSMEs) in India.
Additionally, the expansion will help to boost hundreds of new suppliers in the market.
This suppliers includes: food, pharmaceuticals, consumables, health & wellness, and general merchandise, along with apparel, homeware and other key Indian export categories.
It is also a way for Walmart to bring more high-quality, India-made goods to millions of customers all across the world
Current Export
India is already one of Walmart’s top sourcing markets, with annual exports worth about $3 billion.
Walmart has sourced goods from India for more than 20 years.
Comment from CEO of flipkart
Kalyan Krishnamurthy ,”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.”
“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.”
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