Global supermarket giant Walmart is confident of hitting its goal of exporting goods worth ₹82,036.50 crore from India annually by 2027, CEO Doug McMillon said on Wednesday.
What Happened: The CEO said that with the pace of development in the country, the retailer was confident about achieving its target within the expected timeline, which it had set in December 2020. At the time, India was already one of Walmart’s top sourcing markets in the world, contributing annual exports worth around ₹24,604.80 crore annually. The company’s goal is to triple that figure in the next four years.
“Our confidence now to achieve the export goals is going up. The country has a very strong future. We hope to be part of this economy for decades and decades," McMillon said to Indian suppliers and partners at an internal showcase event.
Walmart owns a majority stake in the Indian e-commerce platform Flipkart, which has a registered customer base of over 300 million users and offers more than 150 million products across more than 80 categories in the country.
With its export commitment, Walmart hopes to provide a significant boost to micro, small, and medium-sized enterprises (MSMEs) in India. The company also has ongoing efforts such as the Flipkart Samarth, an initiative to support local artisans, weavers, and micro enterprises, as well as Walmart Vriddhi, a training program for small-business owners.
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