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Walmart empowers Indian MSMEs to accelerate growth and access new markets Posted On 10th December, 2019 : Posted By VISHAL MEDIA
Walmart empowers Indian MSMEs to accelerate growth and access new markets
Walmart Vriddhi includes local, in-person training and access to a community of entrepreneurial peers and mentors for 50,000 MSMEs across India
Raipur, 10th December 2019 : Walmart Inc. (NYSE:WMT) today announced the creation of the Walmart Vriddhi Supplier Development Program(Walmart Vriddhi)to train and prepare 50,000 Indian small businesses to “Make in India” for global supply chains. Walmart Vriddhi will actively work with India’s micro-, small- and medium-size enterprises (MSMEs) to expand domestic capabilities and participate in the global economy.
Suppliers who have the desire and potential to grow will get the tools they need through Walmart Vriddhi.Over the next five years, MSMEs will receive in-person training, a feature unique to this program, as well as expert advice, access to Walmart’s deep global experience and a network of peers and mentors in their local communities.
Participants will be equipped for both online and offline growth, helping givethem the tools to potentially become a part of the supply chains of Flipkart, Walmart Global Sourcing and Walmart India, or those of other domestic and international companies.
Announcing Walmart Vriddhi in New Delhi today, Judith McKenna, President and Chief Executive Officer of Walmart International, said, “The Vriddhi program will encourage Indian suppliers to make for online and offline customers around the world, including – but not limited to – the supply chains of Flipkart and Walmart. That openness makes us unique and can truly create opportunities for those who participate. Whether a supplier has ambitions domestically or around the globe, Walmart Vriddhi will give them the tools they need to succeed.”
Walmart Vriddhi leverages the Walmart international ecosystem and the local knowledge of partner Swasti, an India-based nonprofit with deep expertise and a strong track record in community development. The new program will connect the network of supplier development communities that Flipkart and Walmart already have today in India, expanding and accelerating existing programs in MSME training, certification and onboarding to empower MSMEs to grow and export to new markets.
Walmart believes that helping local suppliers develop to become part of the wider supply chain in India and globally will help create domestic jobs and sustained growth for the India MSME sector.Consumers will be able to access quality goods from India, no matter where in the world they are buying.
“With a mission to empower communities, Swasti is proud to come together with Walmart to prepare 50,000 MSME entrepreneurs to unleash their potential and unlock business opportunities through Walmart Vriddhi. We are excited to help give MSMEs the chance to participate in domestic and global supply chains that will contribute to their profitability and competitiveness and to India's economic development as a whole," said Shiv Kumar, Founder and Chief Mentor, Swasti.
Together, Walmart and Swastiwill deliver high-quality education via university partners at 25 Walmart Vriddhi institutes across India, making training accessible locally in the communities where India’s MSME entrepreneurs live and work. Theinstitutes will be opened over the next five years at pan-India locations convenient for MSMEs from a wide variety of industries and product categories.
Capacity development is a key pillar of Walmart Vriddhi. MSMEs with the desire and potential to grow will be able to access world-class training and consultation at their localWalmart Vriddhi institute. Business leaders from this group will then be offered tailored training and advisory support to help them further grow in ways that create the greatest opportunities for them.
Training will cover all aspects of business management, promoting customer-centric strategies and best practices in workforce management and environmental sustainability. It will emphasize empowering entrepreneurs, including women entrepreneurs, for lasting success.
About Walmart in India
Walmart is deeply committed to the India market, and holds multi-dimensional engagements to benefit important stakeholders across the country. Walmart offers Indian consumers a mix of modern shopping experiences and helps local sellers and suppliers, including kiranas, MSMEs, farmers, artisans and women-owned businesses, to modernize, prosper and create local jobs in the country. Walmart’s Best Price Modern Wholesale cash-and-carry business serves more than 1 million members, with more than 95% sourcing from within India. Walmart Labs has over 3,500 associates developing cutting-edge retail and e-commerce technology in India. Walmart’s Bengaluru Global Sourcing hub supplies global markets with high-quality India-made goods. Online shopping pioneer Flipkart, in which Walmart invested in 2018, operates India’s leading e-commerce ecosystem, which includes the fashion sites Myntra and Jabong, PhonePe, a payments business and the eKart logistics network.
For more information, visit http://www.wal-martindia.in/ and https://www.flipkart.com/.
Swasti, a part of the Catalyst Group,is headquartered in Bengaluru, India and active globally with a footprint in 30 countries, was founded in 2004. Swasti co-designs demonstrable and scalable solution models in partnership with communities on the ground and influences policies nationally and internationally. Over the past 15 years, Swasti has directly reached over 400,000 people through its initiatives, including more than 238,000 factory workers, the majority of whom are women.
For more information, visit http://www.swasti.org.
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