Endorsing India’s continuing rise as a global hub of manufacturing, Bentonville, Arkansas-based Walmart announced that it will increase its exports of goods from India threefold to $10 billion each year by 2027.
The expansion in sourcing will develop hundreds of new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness and general merchandise, along with apparel, home goods and other key Indian export categories.
Doug McMillon, president and chief executive officer of Walmart Inc. said, “As an international retailer that brings value to customers and communities worldwide, Walmart understands that local entrepreneurs and manufacturers are vital to the success of the global retail sector. And we see huge potential for Indian suppliers to grow their businesses by leveraging the unique scale and global distribution opportunity Walmart provides.”
To accelerate its India exports, Walmart will strengthen development of the supply chain ecosystem in India, both by boosting existing exporters and by expanding the nation’s pool of export-ready businesses.
