Walmart to export $10 billion worth of goods from India annually by 2027
US-based retail giant and Flipkart owner Walmart plans to reach an annual export total of $10 billion (Rs 66,527.5 crore) worth of goods from India by 2027 and retail products to global buyers through small and medium enterprises.
As part of the Union Government’s ‘Make in India’ programme, Walmart aims to route Indian-made goods through small Indian businesses to global retailers, Walmart International’s chief executive Judith McKenna told ET Bureau. By increasing its exports from India in this way, the business will export over $10 billion worth of goods from the country each year within the next six years.
“We think this will open a global opportunity for SMEs [small and medium enterprises] to spread the communities and accelerate India's progress as a manufacturing destination that can export to the world,” said McKenna at a Confederation of Indian Industry conference on December 13. “I actually love the phrase 'Make in India for the world.”
Walmart operates in 24 markets outside of the US. The business operates a wholesale business in India and owns e-commerce giant Flipkart which also comprises fashion arm Myntra.
“We have seen incredible signs of India's enterprising spirits accelerating through Covid and I hope the way the world looks at India, they see what we see ... that is extraordinary public commitment to make it a digital economy,” said McKenna.
“We see a nation of entrepreneurs with a spirit that is hard to match, and we see an opportunity to support and build new businesses that can realise India's potential.”
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