Latest news with #WalmartVriddhi
Yahoo
26-06-2025
- Business
- Yahoo
Walmart Plans to Bring 100K New Indian Small Businesses Online
Walmart is seeking to boost India business by augmenting an existing supplier development program to bolster the activities of 100,000 micro, small and medium-sized enterprises (MSMEs). Launched in 2019, Walmart Vriddhi has already trained 70,000 such businesses across India, helping them to modernize and scale through digital learning, personalized mentorship, and the facilitation of strategic partnerships, the company said this week. Building these competencies has helped them expand market access both within India (Flipkart, a Walmart subsidiary, is a leader in India e-commerce) and across the globe, with Walmart Marketplace offering opportunities for cross-border trade. More from Sourcing Journal H&M Foundation-backed Circularity Initiative Expands in India Byte-Sized AI: Perfect Corp. and Nvidia Team Up; LuminX Gets Seed Round Shein Reportedly Making Plans With Reliance to Export India-Made Goods The new effort is the result of a collaboration with Ideas to Impact Foundation (i2i). The partners said they aim to see 100,000 MSMEs trained up within the next three years on important business imperatives like finance, marketing, workforce management and sustainable operations. The program's graduates experience on average 55-percent year-on-year growth after implementing their learnings. 'We are constantly inspired by India's vibrant innovation ecosystem and the growth potential of its MSMEs. Many micro enterprises face difficulties in securing the knowledge, tools and market access they need to thrive,' Walmart senior vice president of supplier development Jason Fremstad said. 'Empowering these entrepreneurs with critical business skills and market access has helped them to build and scale their business sustainably, and contribute to India's economic growth story.' Fremstad said that as the company enters the next phase of Walmart Vriddhi, MSMEs will be empowered to use new tools for digital growth and export readiness. Walmart Supplier Academy's e-learning modules and new ecosystem partnerships will help these businesses to sell successfully through both Walmart and Flipkart. Flipkart senior vice president and chief corporate affairs officer Rajneesh Kumar said, 'Our unwavering commitment at Flipkart is to empower MSMEs by democratizing access to digital commerce and vast growth opportunities.' 'Through strategic collaborations like Walmart Vriddhi, we are collectively enabling entrepreneurs to scale their aspirations and significantly contribute to India's burgeoning digital economy,' he added. In addition to marketplace integrations, Walmart said it plans to engage with strategic partners to help drive growth, and the program has already signed a Memorandum of Understanding (MoU) with the government of the Indian state of Haryana, which has 22 districts. Walmart Vriddhi plans to sign additional MoUs with other states. Such programs also exist in Mexico (Crece con Walmart) and the U.S. (Grow with US). MSMEs can access the resources through the Walmart Vriddhi website, which features a consolidated resource platform as well as onboarding links for the sales platforms—Walmart Marketplace, Flipkart and Myntra—and information about domestic payment solutions. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India.com
25-06-2025
- Business
- India.com
Bad news for India, this foreign company no longer interested to open…, but working with suppliers on Rs 860720010000…
Walmart President and CEO Doug McMillon, in an interview with TOI, stated that the company is no longer focused on the brick-and-mortar retail business in India. McMillon explained, 'That's not something we are pursuing. We've learned that it's very challenging. Instead, we're thrilled to have invested in Flipkart.' Walmart CEO Doug McMillon, on his second visit to India in less than 18 months, on Tuesday reiterated the company's commitment to sourcing USD 10 billion worth of goods from the country, saying the retail giant is actively working with local suppliers to meet this target by 2027. McMillon, who has visited India multiple times since becoming the CEO of the Bentonville-headquartered retail giant, said Walmart has increased sourcing from the country over the years, and it is excited with the progress made. 'I have been coming to India for a long time now, many years, and I have made many trips, and what goes through my mind is that there is a story developing that is a bit like a movie,' McMillon said. 'Over the years, the growth story of India is unfolding, and it's really broadening and becoming much more interesting,' he said. In December 2020, Walmart had announced a goal to source USD 10-billion products from India by 2027, aiming to boost exports in apparel, food, toys, and other categories. 'At the beginning, we were sourcing products here with limited categories, but we were excited to get started… look what's happened in our sourcing business. 'It's grown a lot, and now we have this goal of getting to USD 10 billion a year, which is a really big number, and together with the supplier community, we're working to achieve that,' he said. McMillon, who is on a two-day India tour, also had a walk-through here that highlighted Walmart's India growth story, covering exports, digital innovation, building inclusive supply chains and empowering communities. Besides, he interacted with some of the sellers, who were trained under its supplier development programme, Walmart Vriddhi. On its e-commerce arm Flipkart and digital payments solution PhonePe, McMillon said, 'What our teams have done to grow those businesses over the years has been inspiring.' 'We are really learning a lot from those businesses, the ability to innovate, the ability to move with speed, the ability to serve more and more customers, to develop sellers, to build an e-commerce marketplace, business that has just a really bright future and the chance to create a lot of opportunities for everyone,' he added. On PhonePe, McMillon said the financial services businesses, already reaches a lot of people 'and helps us make things more efficient easier'. 'We are very proud of what's happening with the small business… I'm really excited to hear about the work that's happening with agriculture,' he said. 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 is in India for over two decades. Walmart Global sourcing set up office in Bengaluru in 2002, enabling Indian manufacturers to export to the US, Canada, Mexico, central America, and the UK, supplying products to Walmart stores. (With Inputs From PTI)
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Business Standard
24-06-2025
- Business
- Business Standard
Walmart reaffirms commitment to hike India sourcing to $10bn by 2027
Global retail giant Walmart on Tuesday reaffirmed its commitment to increase annual sourcing from India to $10 billion by 2027. 'I have been coming to India for a long time now and over the years you can see how the story is unfolding -- broadening and becoming much more interesting. Earlier, we were sourcing products from only some limited categories, but our sourcing business has grown a lot and now we have this goal of getting to $10 billion a year,' Doug McMillon, president and chief executive officer at Walmart Inc. McMillon was speaking at a showcase of the company's many businesses in India during his two-day trip to the country, highlighting its growth story, covering exports, digital innovation, building inclusive supply chains and empowering communities. 'It's rare to have such a big economy growing so fast and creating so much opportunity for so many and we want to be part of that process,' McMillon added. The company has been present in India for over 20 years and had acquired a controlling 77 per cent stake in Flipkart in 2018. As part of this, it had also gained a controlling stake in the online payment platform PhonePe. The company has sourced goods worth over $30 billion from India in the last two decades. 'Years ago, we got the opportunity to invest in Flipkart and PhonePe and the way our teams have done to grow those businesses over the years has been inspiring,' he said. PhonePe is gearing up for an initial public offering and is reportedly set to file its draft papers in early August. 'We have a long-term point of view. You can see that from the many years that we've been here and you can expect that to continue. We see the growth in India,' he further said. Meanwhile, McMillon also interacted with sellers trained under the company's supplier development programme-- helping micro, small and medium enterprises (MSME) -- Walmart Vriddhi. Through its Vriddhi initiatives, Walmart is empowering the Indian MSMEs with critical business skills and market access, which has helped them to scale their business sustainably and contribute to India's economic growth story. Launched in 2019, the programme has trained over 70,000 MSMEs so far by enabling access to digital commerce, personalised mentorship and strategic partnerships. Earlier this month, the company said it is connecting with one lakh more MSMEs in the next three years under the programme. The world's largest retailer clocked revenues worth $681 billion in 2025.
Time of India
24-06-2025
- Business
- Time of India
Walmart $10bn sourcing goal on track, says CEO McMillon; aims to strengthens India ties with export and digital push
Walmart CEO Doug McMillon US retail giant Walmart is working with Indian suppliers to achieve its goal of sourcing $10 billion worth of goods annually from India by 2027, Walmart CEO Doug McMillon said during his India visit on Tuesday. Walmart announced the target in December 2020, aiming to boost exports in categories like apparel, food, and toys. McMillon said the company has expanded significantly from sourcing in limited categories to a broader and more diversified supply base. 'Over the years, you can see how the story is unfolding, and it's really broadening and becoming much more interesting,' he said as quoted by PTI. During his two-day India tour, McMillon reviewed Walmart's initiatives in exports, digital innovation, inclusive supply chains, and community development. He interacted with sellers trained under Walmart Vriddhi, the company's supplier development programme that helps MSMEs with business skills and access to digital markets. Walmart has been present in India for over two decades and has sourced goods worth more than $30 billion for its global operations. Its global sourcing office in Bengaluru, set up in 2002, connects Indian manufacturers with markets in the US, Canada, Mexico, Central America, and the UK. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 年最紓壓的農場遊戲！無需安裝 東加：島嶼農場 立即播放 Undo McMillon also praised the performance of Flipkart and PhonePe, highlighting their growth and ability to innovate and serve customers. On PhonePe, he noted its widespread reach and role in improving transaction efficiency. Walmart Vriddhi, launched in 2019, has so far trained over 70,000 MSMEs. Earlier this month, Walmart announced plans to connect with another 1 lakh MSMEs in the next three years. Inspired by Vriddhi's success, Walmart has launched similar supplier development programmes in Mexico and the US. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
24-06-2025
- Business
- Business Standard
Working with suppliers to reach $10 bn sourcing from India: Walmart CEO
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 Press Trust of India New Delhi US-based retail giant Walmart is working with suppliers in India to meet its target of sourcing $10-billion goods from India for its operations worldwide, its global CEO Doug McMillon said here on Tuesday. Walmart has increased sourcing from India over the years, and it is excited with the progress made, he said. "....over the years, you can see how the story is unfolding, and it's really broadening and becoming much more interesting," he said. In December 2020, the Bentonville-headquartered retail giant announced a goal to source $10-billion products from India by 2027, aiming to boost exports in apparel, food, toys, and other categories. "At the beginning, we were sourcing products here with limited categories, but we were excited to get started... look what's happened in our sourcing business. "It's grown a lot, and now we have this goal of getting to $10 billion a year, which is a really big number, and together with the supplier community, we're working to achieve that," he said. McMillon, who is on a two-day India tour, also had a walk-through here that highlighted Walmart's India growth story, covering exports, digital innovation, building inclusive supply chains and empowering communities. Besides, he interacted with some of the sellers, who were trained under its supplier development programme, Walmart Vriddhi. On its e-commerce arm Flipkart and digital payments solution PhonePe, McMillon said, "What our teams have done to grow those businesses over the years has been inspiring." "We are really learning a lot from those businesses, the ability to innovate, the ability to move with speed, the ability to serve more and more customers, to develop sellers, to build an e-commerce marketplace, business that has just a really bright future and the chance to create a lot of opportunities for everyone," he added. On PhonePe, McMillon said the financial services businesses, already reaches a lot of people "and helps us make things more efficient easier". "We are very proud of what's happening with the bumblebee business... I'm really excited to hear about the work that's happening with agriculture," he said. 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 is in India for over two decades. Walmart Global Sourcing set up office in Bengaluru in 2002, enabling Indian manufacturers to export to the US, Canada, Mexico, central America, and the UK, supplying products to Walmart stores. Earlier this month, Walmart said it is connecting with one lakh more micro, small, and medium enterprises (MSMEs) in the next three years in its supplier development programme in India, Walmart Vriddhi. Through its Vriddhi initiatives, Walmart is empowering the Indian MSMEs with critical business skills and market access, which has helped them to scale their business sustainably and contribute to India's economic growth story. 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 Vriddhi initiatives in India, Walmart has launched similar supplier development initiatives in Mexico (Crece con Walmart) and its home turf, the US (Grow with US).
