Walmart to support Modi s Make in India via higher exports Quartz 12/11/2020
Walmart is trying to prove its loyalty to India.
The Bentonville-based retail major yesterday (Dec. 10) said it will triple its exports from India to $10 billion (Rs73,680 crore) a year by 2027. “By significantly accelerating our annual India exports in the coming years, we are supporting the Make in India initiative and helping more local businesses reach international customers while creating jobs and prosperity at home in India,” Doug McMillon, president and CEO of Walmart said in a press release.
The announcement comes at a time when the Narendra Modi government has been encouraging local and multinational companies to “make in India for the world.” The government has so far committed incentives worth up to Rs2 lakh crore for companies to set up factories in the country. New Delhi hopes this scheme will woo companies that may be looking to exit China amid rising tension between the eastern
Walmart will triple its annual exports from India by 2027. The announcement comes at a time when the Narendra Modi government has been encouraging local and multinational companies to "make in India for the world."
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Pic: Walmart Endorsing India s continuing rise as a global hub of manufacturing, Walmart has announced that it will triple its exports of goods from India to $10 billion each year by 2027. The expansion in sourcing will include helping develop hundreds of new suppliers in several categories, along with apparel, homeware and other key Indian export categories.
Walmart’s new export commitment is expected to provide a significant boost to micro-, small- and medium-sized enterprises (MSMEs) in India, alongside ongoing efforts such as the Flipkart Samarth and Walmart Vriddhi supplier development programmes.
“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,” Doug