Walmart CEO and President Doug McMillon on a visit to Bengaluru reinforced Walmart’s continued commitment to India, building an ecosystem of suppliers and partners, including small and medium enterprises, and meeting the company’s goal of sourcing $10 billion of India-made goods each year by 2027.
“Walmart is here for the long term. We are excited about the Indian suppliers and partners who make quality, affordable, and sustainable products for our customers and members around the world,” said McMillion. “We are proud that our business can support India’s growth by creating jobs, strengthening communities, and accelerating India’s progress as a manufacturing destination.”
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Suppliers meet
McMillion was addressing Indian suppliers and partners across Walmart, Flipkart, PhonePe, Walmart Global Tech, and Walmart Sourcing in India, Walmart Inc.
According to the CEO, with the pace of development happening in the country, the company is confident in achieving its target within the expected timeline and is excited to see what happens in the country in the next 20 years.
In fiscal year 2023, the retail store giant generated $611 billion in revenue and had a workforce of about 2.1 million employees worldwide. Its customer base consists of approximately 240 million customers and members who visit over 10,500 physical stores and various e-commerce websites in 20 different countries each week.
Walmart leadership including Doug McMillon, President and CEO, Walmart Inc, and Judith McKenna, President and CEO, Walmart International, met a cross-section of suppliers, merchants, grantees, artisans, and MSMEs across key India programs and initiatives.
These included Walmart Sourcing, Walmart Vriddhi, Flipkart and Flipkart Samarth, PhonePe, Walmart Marketplace, Walmart Global Tech in India, and the Walmart Foundation.
McKenna said, “India has long been a priority market for Walmart, and we care deeply about the country and its future. As a nation that’s set to be one of the world’s largest economies by 2030, we’re excited to have the opportunity to serve as partners in India’s economic development, aligned with the country’s ambitions.”
She added, “We remain committed to creating opportunity, strengthening local communities, and empowering customers, sellers, suppliers, and farmers.”
‘Building a holistic ecosystem’
The retail company said in a statement that it is committed to a future where retail in the country is a mix of shopping experiences that best serve Indian consumers, suppliers, producers, and retailers.
“With a long history in India, we continue to build a holistic ecosystem that includes a wholesale cash-and-carry business, e-commerce platforms, payments and financial services platforms, and logistics and supply chain capabilities,” it added.
Moreover, the company also “invests in programmes and initiatives that help local sellers and suppliers, including kiranas, micro-small- and medium-sized enterprises, farmers, artisans, and women-owned businesses, modernise, prosper, and create local jobs in the country”.