Walmart looks to treble sourcing of goods from India to $10 billion a year
Walmart said they have sourced over $30 billion goods from the Indian market for its global operation in the past 25 years. The company is now set to triple the sourcing of these goods from India to $10 billion annually by 2027.
Andrea Albright, executive vice president of sourcing at Walmart, said that through its Walmart Vriddhi initiative, launched in 2019, the company is training Micro, Small and Medium Enterprises (MSMEs) «to learn new capabilities, scale and maximize their business ambitions» free of charge. At its Growth Summit, the company announced that they have met their target early and have already trained more than 50,000 MSMEs.
Jason Fremstad, Walmart's senior vice president, supplier development and sourcing, said, «What we are aiming to do this week is to continue finding new suppliers to source in categories- home, apparels, foods, health and wellness, toys… this week is focused on expanding those opportunities and finding new suppliers that we can export in an effort to achieve the goal that we have set out for sourcing $10 billion by the end of 2027.»
The «people-led tech-powered omni-channel retailer», with 2.1 million associates globally, states that their strategy is to save people's money and help them live better. The summit was to bring buyers and suppliers together to accelerate exports across the country.
«Our focus is to recruit and train new suppliers to fulfil our purchase orders around the world. These orders often lead to the creation of new jobs. It also allows our suppliers to
