Walmart Inc. is looking to source toys, shoes and bicycles from India, as part of its endeavour to increase its exports from India to $10 billion annually by 2027.
The US-based retailer also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told.
“Walmart’s growth in sourcing from India includes expanding working with existing suppliers and helping develop new suppliers in categories such as food, pharm, consumables, health and wellness along with apparel and home textiles,”the Walmart spokesperson said.“We are also exploring opportunities in toys, shoes, and bicycles.”
In December 2020, Walmart committed to triple its exports of goods from India to $10 billion each year by 2027, providing a significant boost to micro-, small- and medium-sized enterprises (MSMEs) here.
“The expansion in sourcing will include helping develop hundreds of new suppliers in categories such as food, pharmaceuticals, consumables, health & wellness and general merchandise, along with apparel, homeware and other key Indian export categories,” it had said.
Earlier this month,Walmart Inc. President and CEO Doug McMillon reaffirmed its commitment during his visit to India and said that India’s unique ecosystem of suppliers will help the company in achieving its goal of exporting goods worth $10 billion from the country annually by 2027.
Addressing Indian suppliers, Doug McMillon has reaffirmed the roadmap for strengthening partnerships with Indian communities, expanding opportunities for Indian businesses and fostering transformative and innovative solutions for retail from India to the world.
McMillon had also metPrime Minister Shri Narendra Modi and tweeted, “Thank you Prime Minister @narendramodi for a great conversation. We are working toward exporting USD 10B per year from India by 2027 and are committed to strengthening logistics, skill development & supply chains to make India a global export leader in toys, seafood & other goods.”
Key words: Walmart sourcing from India; new suppliers; strengthening partnership
“The visit with Prime Minister Shri Narendra Modireinforces the shared value we bring working alongside India. Together, we’ll continue to support the country’s manufacturing growth and create opportunity,” McMillon was quoted as saying in a tweet by Walmart Inc.
The Department for Promotion of Industry and Internal Trade (DPIIT), which is taking a series of steps to promote domestic manufacturing of toys, is also helping Indian manufacturers tie up with the global players to meet their compliance provisions and increase exports from India.