Launched in December 2019, Walmart‘s programme provides support to businesses by offering free training, mentoring, and digital tools aimed at enhancing their capabilities and to help them integrate into India’s domestic supply chain.
In collaboration with its programme partner, Swasti, Walmart Vriddhi and leveraging the expertise of Flipkart’s platform, the programme said to equip MSMEs with essential skills spanning finance, marketing, workforce management, and environmental sustainability.
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This approach is explained by Walmart to not only foster the establishment of successful business models but also contribute significantly to employment opportunities within local communities.
“I commend the 50,000+ Walmart Vriddhi graduates for their unwavering dedication to the initiative,” stated Jason Fremstad, senior vice president of supplier development at Walmart.” The rapid growth they have achieved stands as a testament to the programme’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.”
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Spanning across India, Walmart Vriddhi is said to be pivotal in connecting MSMEs in key centres such as Moradabad, Agra, Panipat, Bhopal, Surat, Guwahati, and Tirupur. These connections are further strengthened through collaborations with respective state governments.
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By GlobalDataCommenting on the significance of such initiatives, Shri Narayan Rane, Minister of Micro, Small and Medium Enterprises of India said: “As India advances towards achieving a $5tn 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.”
Walmart shared the success story of a company called The Sacred Artisans, Sanitree, which specialises in panty liners. The company’s co-founder Ishu Saini said: “The programme provided us with more than just business insights; it offered a comprehensive framework to scale our vision. Under the mentorship of Walmart Vriddhi experts, we learned to refine our business model, focusing on sustainable growth and scalability.”
Walmart Vriddhi is described as just one facet of Walmart’s commitment to supporting India’s supply chain development and being a “leading participant” in global markets.
The company has pledged to source $10bn in goods from India annually by 2027. To further this agenda, Walmart is hosting its inaugural Growth Summit in New Delhi from 13-15 February, bringing together merchants from Walmart and Sam’s Club along with Indian suppliers for pitch presentations aimed at advancing its $10bn export goal.
