Aligned with the Indian Government’s growth and development agenda, Walmart’s investments in India will create key impact opportunities across sectors. The economic benefits over the next decade will be in the areas of farmer income; food wastage reduction; job creation; exports; modernization of small retailers; a move towards a cashless economy with Digital India.
Walmart believes in creating shared value for people, business and society. As a part of this, in India, Walmart has enabled Indian manufacturers to access global marketplaces. Walmart has supported these entrepreneurs in further growing and scaling their businesses.
Over the years, Walmart has built a solid foundation in the country with the mission of helping small businesses prosper. Walmart’s global sourcing hub procures a diverse range of products and categories including apparels, textiles, pharmaceuticals and handicrafts from Indian manufacturers for key global markets. The global sourcing hub is also supporting the economy and the marque ‘Make in India’ initiative of Prime Minister Narendra Modi. As Walmart scales its business in India over the next decade, it will create a significant impact across the agriculture, food, and retail ecosystems and their respective stakeholders.
Marilee McInnis, Corporate Affairs, Global Communication, Walmart said, “India is an important sourcing market for Walmart. Not only do we procure over 95% of the goods sold in our Best Price stores from local companies, including SME and women entrepreneurs, but we also have a global sourcing center located in Bangalore that sources for 14 international markets with India-made products, including textiles, apparel, pharmaceuticals, and handicrafts further supporting the economy and the ‘Make in India’ initiative’. We work closely with and engage our suppliers to understand and meet our responsible sourcing and compliance standards”.
Similarly, founded 25 years ago, Mumbai-based Indo Count Industries has been providing quality products through continuous innovation to achieve continued momentum and sustained growth. This leading manufacturer has become one of the fastest growing Indian manufacturers of Home Textiles in U.S and European markets through its wide range of home textile categories. Supported with high quality products designed by skilled professionals, the company has become a preferred partner for some of the best-known retail, hospitality and fashions brands in the world. Over a decade ago, the company partnered with Walmart’s home brand ‘Canopy ‘with solid and yarn dyed organic sheets. Since then, the company has steadily grown expanding its business globally. Being a Walmart supplier has helped in elevating its position to a trusted supplier in the marketplace and has also allowed the company to invest smartly in the business to increase its market share globally. The partnership with Walmart and adoption of its best practices has enabled the company to become more competitive and deliver consistently to end consumers. The company aims to grow with Walmart and is also looking for new opportunities and avenues to enhance and improve its services.