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Time of India
15 hours ago
- Business
- Time of India
What started in India is now a global standard—Walmart's Jason Fremstad on Vriddhi program going international
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Since its launch in 2019, Walmart 's Vriddhi program has quietly become one of the most ambitious capacity-building initiatives for micro, small, and medium enterprises ( MSMEs ) in India. The program originally set out to train 50,000 small businesses; however, it surpassed its target by training 70,000 MSMEs and transitioned to a fully digital platform after the pandemic. Now entering its next phase—Vriddhi 2.0—Walmart aims to empower an additional 100,000 MSMEs by 2028, in partnership with the Ideas to Impact Foundation. In this interaction with The Economic Times Digital, Jason Fremstad , Senior Vice President of Supplier Development, Sourcing at Walmart International, speaks about the company's approach to nurturing MSMEs, the sourcing potential from India, and why a program born in India is now being exported to global Vriddhi program, launched in 2019, aimed to train and empower 50,000 MSMEs by 2024. Believe it or not, the program's original aim was classroom implementation, but the Covid-19 pandemic changed that. Although we were determined to stay focused on our objective, we needed to find an alternative training method for MSMEs outside a traditional classroom setting. In 2020, we opted to do it digitally, and over the next couple of years, we realised that was a much more efficient way to do it. It saved money and time for that five-year time frame (2019-2024), where we thought we would do 50,000, we actually did 70,000. Our training equipped 70,000 MSMEs to utilise any and all modules at their discretion. There is a vast array of them. However, graduating requires completing at least five core modules. Next, we provide them with the chance to go on Flipkart . And so, they do not have to go on a Flipkart, as they can take the knowledge and go sell anywhere they choose to. Because the goal was to empower the MSMEs and ensure that we are helping what has been called the backbone of the Indian economy. We want to continue to invest in small businesses because we know no business is starting big. So, investing in MSMEs, training them, and then offering them the opportunity to go on a Flipkart has turned into being a successful combination, and it has been amazing to see. So today, we are transitioning to what we are calling internally Vriddhi 2.0 and partnering with i2i, the Ideas to Impact Foundation. We have now committed to supporting 100,000 additional MSMEs by the end of Walmart Supplier Academy's Vriddhi pathway adapts to each MSME's needs. So, Vriddhi is just the beginning of our journey to empower MSMEs. All modules are free, and you can take as many as you like. There are no strings attached, and you do not even have to sell on Flipkart. However, imagine completing the program, graduating, selling successfully on Flipkart, and using that success to continue growing. Vriddhi also offers programs to assist with international trade. We aim to expand training for entrepreneurs focusing on cross-border trade via Walmart have seen demand across all our networks. So, we've categorised it into three areas: food and consumables, health and wellness, and general merchandise; and we've seen demand across all three. What excites me in my meetings is that a lot of the MSMEs have sustainable items to sell.I believe the food industry presents a significant opportunity, for example, with growing demand for millets. We are seeing the demand in the US for millet. We've noticed a significant rise in the popularity of various Indian snacks and dishes. But as a retailer, what is always exciting to me is seeing where suppliers and entrepreneurs are focusing because they are closest to the customer. Therefore, we aim to provide them with a platform to reach a wider customer the prospect of training 50,000 MSMEs felt overwhelming. The team deserves a lot of credit for effectively using our outreach to connect with MSMEs, collaborate with state governments, and spread the word. Each success fuelled the next, and more MSMEs joined. The Walmart Vriddhi graduates, who have already integrated into the Flipkart Marketplace, have witnessed about 55% year-on-year growth in their business, which is we're focusing on accelerating growth and expanding MSME training programmes. We're thrilled to announce that we aim to sign up 100,000 MSMEs by the end of 2028. We're collaborating with the i2i foundation and state governments and expanding our reach to interesting to note that Vriddhi originated in India and has since expanded globally. Vriddhi's success exceeded even our highest expectations. We set a goal of 50,000 MSMEs, and we have 70,000 firms. We've expanded into Mexico and the US with our new program, Grow with US. I'm unaware of any other retailer that has both originated and exported a program from India to various other markets. So, it is now the standard for how we train entrepreneurs in our retail markets. For our team, we believe we can offer a truly Vriddhi-like program across all our current retail have been very fortunate to sign several MOUs in different states in India that help us get the access to be able to train more MSMEs. We also have the goal that we are going to export $10 billion annually out of India by the end of 2027. So, as a company, we are trying to make sure that we are covering the spectrum of suppliers, from MSMEs all the way through large export suppliers. We had great feedback sessions with our suppliers where we are always also trying to learn from the different MSMEs because that is how we build the next program to continue to stay ahead of our competition and in empowering MSMEs through export.
Fashion Network
20-06-2025
- Business
- Fashion Network
Walmart Vriddhi makes new pledge to MSMEs
Walmart's supplier development initiative, Walmart Vriddhi, has announced a new partnership with the Ideas to Impact Foundation (i2i) to support 100,000 additional micro, small and medium enterprises in India over the next three years. The expanded initiative will leverage Walmart's global supply chain experience and Flipkart's digital commerce ecosystem to help MSMEs scale their businesses nationally and internationally, the business announced in a press release. So far, Walmart Vriddhi has trained more than 70,000 MSMEs, enabling many to achieve around 55% year-on-year growth through personalised mentorship, strategic partnerships and digital tools. 'We are constantly inspired by India's vibrant innovation ecosystem and the growth potential of its MSMEs,' said Jason Fremstad, senior vice president of supplier development at Walmart in a press release. 'As we enter the next phase of Walmart Vriddhi, we're empowering MSMEs with new tools for digital growth, sustainability and export readiness.' The programme also facilitates access to the Walmart Marketplace and Flipkart Marketplace, helping small businesses participate in global and domestic e-commerce. New memorandums of understanding with state governments, including Haryana, are expected to expand outreach. Flipkart Group's Rajneesh Kumar said the partnership reflects an ongoing commitment to making digital commerce more accessible to India's small business community. The programme, launched in 2019, aims to equip entrepreneurs with critical business skills and market access through a free training model.
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Business Standard
19-06-2025
- Business
- Business Standard
Walmart to add 100K MSMEs in next 3 years under Vriddhi supplier programme
US-based retail giant Walmart will connect one lakh more MSMEs in the next three years to its supplier development programme in India, a company official said here on Thursday. The programme, Walmart Vriddhi, has partnered with Ideas to Impact Foundation (i2i), which will enable more MSMEs to expand their access to both national and international markets, helped by the combined strengths of Walmart's global supply chain and Flipkart's e-commerce capabilities. "As we approach the next phase of the Walmart Vriddhi programme, we are very excited to announce today that going forward we have partnered with Ideas to Impact Foundation to empower an additional 1,00,000 MSMEs over the next three years," Jason Fremstad, Senior Vice President of Supplier Development - Sourcing at Walmart International, said. This will also help the Bentonville-headquartered retail company amplify its sourcing of goods from India for its global operations, for which it had earlier set a goal of exports worth $10 billion per year by 2027 from here. Through its initiative, Walmart is empowering the Indian MSMEs (Micro, Small, and Medium Enterprises) with critical business skills and market access, which has helped them to scale their business sustainably and contribute to India's economic growth story. "We are also deepening our support for MSMEs by expanding access to market linkages both nationally and internationally through the Flipkart and Walmart marketplaces," Fremstad said. Launched in 2019, Walmart Vriddhi has trained over 70,000 MSMEs so far by enabling access to digital commerce, personalised mentorship and strategic partnerships. Encouraged by the success of the Vriddhi initiative in India, Walmart has launched similar supplier development initiatives in Mexico (Crece con Walmart) and its home turf, the US (Grow with US). Participants will benefit from an approach devised by Walmart, Flipkart and the programme's implementing partner, Ideas to Impact Foundation, through access, outreach and programme management expertise. "We are also introducing new learning tools focused on helping small businesses with visual growth, sustainability, and export readiness. We will continue to build new partnerships that connect MSMEs with ecosystem enablers, ensuring they have not just the knowledge but the networks and opportunities to grow," he said. Rajneesh Kumar, SVP and chief corporate affairs officer at Flipkart Group, said that MSMEs are a big component for the company. Now, it has started an initiative named "Samarth", which helps to empower Indian artisans, weavers, and micro-enterprises by providing them with a platform to reach a wider audience and grow their businesses. Now Flipkart app has a dedicated landing page allowing customers to explore the products made by Indian artisans and weavers, he said. "Through strategic collaborations like Walmart Vriddhi, we are collectively enabling entrepreneurs to scale their aspirations and significantly contribute to India's burgeoning digital economy," Kumar added. Last year, Walmart said it had sourced goods worth over $30 billion from the Indian market in the last two decades for its global operations. Walmart has been in India for over 25 years. Moreover, Walmart has in the last few years also increased its sourcing basket by adding more products by developing new suppliers here. It sources toys, shoes, bicycles, food, pharmaceuticals, consumables, health and wellness, among others.
Time of India
19-06-2025
- Business
- Time of India
Walmart to add 1 lakh MSMEs in next 3 years under Vriddhi scheme
US-based retail giant Walmart will connect one lakh more MSMEs in the next three years to its supplier development programme in India, a company official said here on Thursday. The programme, Walmart Vriddhi , has partnered with Ideas to Impact Foundation (i2i), which will enable more MSMEs to expand their access to both national and international markets, helped by the combined strengths of Walmart's global supply chain and Flipkart 's e-commerce capabilities. "As we approach the next phase of the Walmart Vriddhi programme, we are very excited to announce today that going forward we have partnered with Ideas to Impact Foundation to empower an additional 1,00,000 MSMEs over the next three years," Jason Fremstad, Senior Vice President of Supplier Development - Sourcing at Walmart International, said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Photos Captured the Exact Wrong Moment Read More Undo This will also help the Bentonville-headquartered retail company amplify its sourcing of goods from India for its global operations, for which it had earlier set a goal of exports worth USD 10 billion per year by 2027 from here. Through its initiative, Walmart is empowering the Indian MSMEs (Micro, Small, and Medium Enterprises) with critical business skills and market access, which has helped them to scale their business sustainably and contribute to India's economic growth story. Live Events "We are also deepening our support for MSMEs by expanding access to market linkages both nationally and internationally through the Flipkart and Walmart marketplaces," Fremstad said. Launched in 2019, Walmart Vriddhi has trained over 70,000 MSMEs so far by enabling access to digital commerce, personalised mentorship and strategic partnerships. Encouraged by the success of the Vriddhi initiative in India, Walmart has launched similar supplier development initiatives in Mexico (Crece con Walmart) and its home turf, the US (Grow with US). Participants will benefit from an approach devised by Walmart, Flipkart and the programme's implementing partner, Ideas to Impact Foundation, through access, outreach and programme management expertise. "We are also introducing new learning tools focused on helping small businesses with visual growth, sustainability, and export readiness. We will continue to build new partnerships that connect MSMEs with ecosystem enablers, ensuring they have not just the knowledge but the networks and opportunities to grow," he said. Rajneesh Kumar, SVP and chief corporate affairs officer at Flipkart Group, said that MSMEs are a big component for the company. Now, it has started an initiative named "Samarth", which helps to empower Indian artisans, weavers, and micro-enterprises by providing them with a platform to reach a wider audience and grow their businesses. Now Flipkart app has a dedicated landing page allowing customers to explore the products made by Indian artisans and weavers, he said. "Through strategic collaborations like Walmart Vriddhi, we are collectively enabling entrepreneurs to scale their aspirations and significantly contribute to India's burgeoning digital economy," Kumar added. Last year, Walmart said it had sourced goods worth over USD 30 billion from the Indian market in the last two decades for its global operations. Walmart has been in India for over 25 years. Moreover, Walmart has in the last few years also increased its sourcing basket by adding more products by developing new suppliers here. It sources toys, shoes, bicycles, food, pharmaceuticals, consumables, health and wellness, among others.
