Walmart intends to export $10 billion worth of goods annually from India by 2027.
According to Walmart, its new “Make in India” export commitment reflects India’s continuing rise as a global manufacturing hub and is expected to provide a significant boost to micro-, small- and medium-sized enterprises (MSMEs) in India. The effort joins ongoing MSME-focused initiatives the retailer is supporting in India, such as the Walmart Vriddhi supplier development program.
As part of its expansion in sourcing from India, Walmart intends to help develop hundreds of new suppliers in categories such as food, pharmaceuticals, consumables, health & wellness, general merchandise, apparel, homeware, and other key Indian export categories.
The goal is to empower 50,000 MSMEs to source products for domestic and global supply chains over five years. To accelerate its India exports, Walmart will strengthen development of the supply chain ecosystem in India, both by boosting existing exporters and by expanding the nation’s pool of export-ready businesses.
Walmart has sourced goods from India for more than 20 years, and the country is already one of its top sourcing markets, with annual exports worth about $3 billion USD. India-made products currently reach customers in 14 markets, including the U.S., Canada, Mexico, Central America, and the U.K. Walmart manages Indian export operations from its global sourcing office in Bangalore, which opened in 2002.
“As an international retailer that brings value to customers and communities worldwide, Walmart understands that local entrepreneurs and manufacturers are vital to the success of the global retail sector. And we see huge potential for Indian suppliers to grow their businesses by leveraging the unique scale and global distribution opportunity Walmart provides,” said Doug McMillon, president and CEO of Walmart Inc. “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. It is also a way for Walmart to bring more high-quality, India-made goods to millions of customers all across the world.”
Walmart Inc. operates approximately 11,400 stores under 55 banners in 26 countries and e-commerce websites.