Walmart reaches major milestone for sourcing initiative

Walmart has been achieving success in its efforts to build a domestic Indian supply chain.

The discount giant has been focusing on developing  micro, small and medium enterprises (MSMEs) in India with the Vriddhi Supplier Development Program it launched in December 2019. The initiative features interactive online training experiences and personalized mentoring, with access to resources and experts to support growth.

Now, Walmart is announcing that Walmart Vriddhi has achieved a goal of providing digital training to more than 50,000 micro-, small- and medium-sized enterprises (MSMEs) over five years. The discounter said it reached this number ahead of schedule.

With its program partner, the global non-profit Swasti, Walmart Vriddhi offers local Indian suppliers access to training, mentoring and business advice while tapping into the expertise of Flipkart, a leading Indian e-commerce platform with majority Walmart ownership. 

The digital training provided to MSMEs covers specific aspects of business management such as finance, marketing, workforce management and environmental sustainability. 

The program is accessible across India and also engages in collaborations with local state governments. Walmart has committed to sourcing $10 billion in goods from India each year by 2027.

"Empowering MSMEs is at the heart of Walmart’s commitment to fostering inclusive economic growth," said Jason Fremstad, senior VP, supplier development, Walmart. "I commend the 50,000-plus Walmart Vriddhi graduates for their unwavering dedication to the initiative. The rapid growth they have achieved stands as a testament to the program's robust curriculum, effective delivery and the valuable partnerships forged at every step. We eagerly anticipate these businesses reinvesting in their communities, generating new jobs, stimulating local value chains and economies, and acting as catalysts in India’s burgeoning economy."

"As India advances towards achieving a $5 trillion economy, a substantial portion of this growth will be driven by a competitive and productive MSME sector, serving as a catalyst for economic expansion and job creation. The government actively supports the promotion and development of the MSME sector across all states," said Shri Narayan Rane, minister of micro, small and medium enterprises of India. "Initiatives like the Walmart Vriddhi program play a pivotal role in facilitating the digital transformation and growth of MSMEs. I extend my congratulations to the Walmart and Flipkart team for providing over 50,000 Vriddhi graduates with the opportunity to unlock market opportunities."

Headquartered in Bentonville, Ark., Walmart operates approximately 10,500 stores and numerous e-commerce websites in 19 countries.