Walmart and Flipkart has signed a Memorandum of Understanding (MoU) with the National Small Industries Corporation (NSIC) to jointly accelerate capacity building for micro, small and medium enterprises (MSMEs) across India.
The MoU was signed to mark the milestone of 20,000 MSMEs having completed their training under the Walmart Vriddhi Supplier Development Program (Walmart Vriddhi), of which, Swasti is a program partner.
According to the company, the Vriddhi offers complete learning with training provided free of cost, along with access to expert assistance required to grow and expand businesses. It also includes training, seminars, and mentoring sessions conducted regularly for MSMEs.
Narayan Rane, Minister of Micro, Small and Medium Enterprises, said, “I’m glad to see that Walmart’s Vriddhi program has enabled a large number of Indian MSMEs to expand, boost their production, and experience growth. India currently has 6.3 crore MSMEs that employ more than 11 crore people. We look forward to Walmart’s continued support to the growing MSME sector in the country.”
The partnership with NSIC will enable a greater number of small businesses and entrepreneurs to access the Vriddhi program. According to the company, tens of thousands of MSMEs have registered for the program from metros and Tier II and III cities across India, and over 20,000 MSMEs have completed the program.
Rajneesh Kumar, chief corporate affairs officer, Flipkart Group, said, “As a homegrown company, we are passionate about the growth of Indian MSMEs and building an enabling and inclusive e-commerce ecosystem. Technology and innovation will play a critical role in the growth of small businesses in India. With that mission, our efforts are focused on helping them digitise their businesses and explore growth opportunities through e-commerce.”
Additionally, the partnership is aimed at supporting MSMEs in their journey toward becoming a part of retail supply chains, locally and globally.
“NSIC is committed to the growth and development of a robust MSME sector in India. We look forward to working with Walmart Vriddhi to help MSMEs under the program get access to our schemes and make the learning resources of Vriddhi available to MSMEs under NSIC. Through this partnership, MSMEs across the country can get the necessary support required to further expand their businesses nationally and across the globe,” said Gaurang Dixit, Chairman and Managing Director of NSIC.