In a major move reaffirming global faith in India’s growth story, Walmart Inc. President and CEO Doug McMillon met Prime Minister Narendra Modi this week and pledged to scale up sourcing from India to $10 billion annually by 2027.
The meeting, which took place during
McMillon’s two-day visit to India—his second visit in just 18
months—highlighted Walmart continued commitment to India’s economic
development and its role in empowering small businesses and creating jobs.
A
Strong and Growing Partnership
Doug McMillon was accompanied by
Kath McLay, President and CEO of Walmart International, and Steuart Walton,
board member of Walmart Inc. Together, they discussed Walmart’s deepening
presence in India and how the global retailer plans to support India’s aspirations
in digital transformation, exports, and inclusive development.
“There’s a story developing here
that’s like a movie,” said McMillon. “India’s growth is broad, dynamic, and
full of opportunity.”
Areas
of Focus: MSMEs, Jobs, Digital Inclusion
The conversation with Prime Minister
Modi centered on five core areas:
- Job Creation
- Empowering MSMEs (Micro, Small, and Medium Enterprises)
- Digital Inclusion
- Skill Development
- Boosting Exports
These areas are closely aligned with
the Indian government’s economic vision for Atmanirbhar Bharat (self-reliant
India) and digital-first governance.
Walmart’s plans are expected to
provide direct support to these areas through its existing businesses and
development programs.
$10
Billion Sourcing Target: India as a Global Supply Hub
Walmart first announced its target
of sourcing $10 billion worth of goods annually from India back in December
2020. The company aims to achieve this by 2027. According to the company, it
has already sourced over $30 billion from India over the past two decades.
The goods exported include:
- Apparel
- Food products
- Toys
- Handicrafts
- Homeware and textiles
By increasing its sourcing from
India, Walmart intends not only to meet global consumer demand but also to strengthen
India’s position as a reliable supply chain hub.
Empowering
Local Entrepreneurs: Walmart Vriddhi
McMillon also met with Indian
entrepreneurs who are part of the Walmart Vriddhi program a supplier
development initiative launched to equip MSMEs with business skills and connect
them to both national and global supply chains.
The program aims to reach over 1
lakh MSMEs (100,000+) in the next three years.
“We are very proud of what’s
happening with small businesses,” McMillon shared. “I’m excited to hear about
the work happening in agriculture too.”
The program includes:
- Business mentoring
- Digital training
- Market access support
- Supply chain integration
This initiative empowers small
business owners, especially those from rural and semi-urban areas, to scale up
and compete globally.
Flipkart,
PhonePe, and Walmart Tech: Anchoring Walmart’s India Story
Walmart’s presence in India isn’t
new it started back in 2002 with the launch of a sourcing office in Bengaluru.
But the real game-changer was its $16 billion acquisition of Flipkart in
2018, making it one of the largest investments by a foreign company in
India.
Since then, Walmart has:
- Acquired a controlling stake in PhonePe, which
later spun off as an independent entity.
- Supported Flipkart’s expansion, including its
acquisitions like Cleartrip (a travel booking platform).
- Invested heavily in Walmart Global Tech India,
its technology arm that now employs thousands of Indian software
professionals working on retail innovation and supply chain solutions.
These entities collectively form the
foundation of Walmart’s long-term strategy in India one that’s increasingly
digital, inclusive, and export-oriented.
Skill
Development and Agriculture: Focus Areas for Inclusive Growth
India’s economic development can’t
be complete without the empowerment of rural and underserved communities.
Walmart appears to understand this well.
In his statement, McMillon noted
Walmart’s growing interest in agriculture and agritech, as well as skill
development in collaboration with local partners and training institutions.
Programs under the Walmart
Foundation have already supported thousands of farmers and artisan
cooperatives, especially women-led businesses.
A
Long-Term Commitment to India’s Future
The tone of Walmart’s leadership
during this visit reflects not just a business opportunity, but a genuine
appreciation of India’s evolving economic landscape.
“Over the years, the growth story of
India is unfolding, and it's becoming much more interesting,” said McMillon.
With more and more global
corporations like Walmart strengthening their roots in India, this is a strong
endorsement of India’s talent pool, digital infrastructure, and potential to be
a global growth engine.
The
Road Ahead
Walmart's India journey is clearly
only just beginning. With a robust roadmap covering:
- $10 billion in annual sourcing
- Massive investments in digital platforms
- Skill-building for MSMEs
- Technology innovation from India for the world
The retail giant is positioning
itself as a key partner in India’s development story.
As global trade becomes more
diversified and companies look beyond China for reliable partners, India’s
importance in global supply chains is only going to rise. Walmart is moving
early and moving fast to be part of that future.
Final
Thoughts
Walmart’s reaffirmation of its $10
billion sourcing goal and its alignment with India’s developmental priorities
sends a strong signal: Global businesses see India not just as a market, but as
a partner in value creation.
This visit and the commitments
made are another step forward in India's global economic rise.
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