Global retail giant Walmart, which has been undertaking extensive training programmes for MSMEs along with Flipkart, on Wednesday announced plans to triple its exports from India to $10 billion annually by 2027.
Under the Walmart Vriddhi Supplier Development Programme (Walmart Vriddhi), the retail giant has so far trained over 2,500 MSMEs in modern business management frameworks to enable them to modernize and become part of the digital retail revolution.
“Walmart has an ongoing commitment of tripling exports from India by 2027 to $10 billion annually, and we look forward to supporting more small businesses in their efforts by providing potential access to online and offline markets in India and globally,” Leigh Hopkins, Executive Vice President, International Strategy, Development and Asia Region, Walmart International said at an online event to mark the graduation of over 2,500 MSMEs, who have been completed the first phase of the Walmart Vriddhi programme.
The different phases in the programme, delivered by programme partner Swasti, give MSMEs access to advanced business tools and strategies, as well as one-on-one expert consultation, to help them unlock their entrepreneurial capacity, modernize their business, and thrive.
Graduating entrepreneurs are already experiencing growth, with many expanding their digital capabilities and selling across India through the Flipkart marketplace, Sidharth Nath Singh, Uttar Pradesh Minister of MSME, Investment and Export, Textile, Khadi & Gram Udyog, stated urging more MSMEs to take advantage of such training programmes.
To further strengthen India's position as an export hub and empower small businesses to stretch their wings, Singh said the state government is “setting up overseas trade promotion and facilitation centers in all 75 districts of the state.”
Walmart and Flipkart expect many more entrepreneurs to graduate from the Vriddhi program over the next few months. Both the companies plan to partner with MSMEs by providing access to online and offline markets in India and around the world.
"We are truly excited to see the graduating entrepreneurs who are digital-ready and getting ready to be part of India’s continuing economic growth story. We are proud that there are already around 3.75 lakh Indian sellers on the Flipkart marketplace today, a majority of which are MSMEs,” stated Adarsh Menon, Senior Vice President and Head, Flipkart Wholesale.
Flipkart, through its Samarth program for digital upskilling, has been working with artisans, weavers, and other small businesses to enhance their market access.
Walmart and Flipkart had recently announced a Memorandum of Understanding (MoU) with the state governments of Haryana and Tamil Nadu to help enhance the growth and development of MSMEs.
Launched in 2019, Walmart Vriddhi programme is targeting to empower 50,000 MSMEs across India over five years.