The initiative is known as Walmart Vriddhi Supplier Development Program, that will set up around 25 institutes strategically near manufacturing clusters across the country with an aim to train these 50,000 micro, small and medium-sized enterprises (MSME) in the next five years, the company added. The first such institute is likely to be open in March 2020.
India is already among the top five sourcing markets for the retail giant globally, and the new initiative is part of its long-term commitments to the country.
Ms Judith McKenna, President and Chief Executive Officer of Walmart International, said, “Today, our Cash & Carry stores source 95 per cent of what they sell from India...India is a top-five sourcing market for Walmart today, with a global sourcing hub in Bangalore that already sources Indian products for 14 markets around the world. “
“The Walmart Vriddhi Program will connect the network of supplier development communities we have already today in Flipkart and Best Price, using their learnings to help develop powerful curriculum and expand and accelerate the work even further and faster. With training and support, we can provide new and unique opportunities for MSME growth, both domestically and abroad,” she added.
The Walmart Vriddhi institutes would directly provide training to MSME and allow them to become part of the domestic and international supply chains of Walmart and Flipkart as well as other players.
“Uniquely, this is an open platform designed not for Walmart but for the best interests of those the program will serve.,” Ms McKenna pointed out, adding that this will be a pan-India initiative. Although, the company did not provide any specifics on investments being made on setting up these institutes.
Walmart, in 2018, acquired 77 per cent stake in Flipkart, the country’s leading online e-commerce platform, which also operates Myntra, Jabong and PhonePe.
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