Confident of achieving Walmart’s goal of $10 bn exports from India annually by 2027: Walmart CEO Doug McMillon

BENGALURU: Talking about how Walmart’s goal of exporting goods worth $10 billion from India annually by 2027 seemed within reach, Doug McMillon, President and CEO, Walmart Inc said that it would be remarkable to witness how things would unravel over the next 20 years here. “I started coming to India 20 years back and while it was a great opportunity from a sourcing perspective, it was more in a specific category of home textiles. 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 stated while addressing Indian suppliers and partners at an internal showcase event in the city on Tuesday.

In December 2020, Walmart had announced that it would triple its exports of goods from India to $10 billion each year versus the current $3 billion by 2027.

The CEO reinforced Walmart’s continued commitment to India and building an ecosystem of suppliers and partners, including small and medium enterprises to achieve its objectives. Reaffirming Walmart’s roadmap of strengthening partnerships with Indian communities, he spoke about expanding opportunities for Indian businesses and fostering innovative solutions for retail from India to the world.

“Walmart is committed to India and we are here for the long term. We are excited about the Indian suppliers and partners who make quality, affordable and sustainable products for our customers and members around the world. We are proud that our business can support India’s growth by creating jobs, strengthening communities, and accelerating India’s progress as a manufacturing destination,” he added, while discussing India’s potential as the fastest growing economy in the world.

Echoing similar sentiments, Judith McKenna, President, and CEO, Walmart International said that India is set to be one of the world’s largest economies by 2030. “We want to show our commitment to India. We see entrepreneurial spirit which is more exciting than anywhere else. It is about opportunities – not just for stakeholders but communities and creating real growth. India has long been a priority market for Walmart,” she said.

McKenna stated that the company is committed to creating opportunity, strengthening local communities, and empowering customers, sellers, suppliers, and farmers.

McMillon and McKenna met a cross section of suppliers, merchants, grantees, artisans and MSMEs across key India programmes and initiatives. Some of the exhibitors included Mrs Bector’s Food Specialties, Vardhman Textiles, Navrang Handicrafts and Mahi Exports among others.

Professionals from Walmart Sourcing, Walmart Vriddhi, Flipkart and Flipkart Samarth, PhonePe, Walmart Marketplace, Walmart Global Tech in India and the Walmart Foundation were also present.

The company invests in programmes and initiatives that help local sellers and suppliers, including kiranas, micro, small and medium-sized enterprises, farmers, artisans, and women-owned businesses to modernise, prosper and create local jobs in the country.

The retail behemoth intends to build a holistic ecosystem that includes a wholesale cash-and-carry business, ecommerce platforms, payments, and financial services platforms, as well as logistics and supply chain capabilities.

(Disclaimer: The reporter was in Bangalore on an invitation from Walmart)

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