Walmart to empower MSMEs to accelerate growth, access mkts

ST CORRESPONDENT
Tuesday, 10 December 2019

Announcing the new initiative, President and Chief Executive Officer of Walmart International, Judith McKenna, said, “The Vriddhi programme will encourage suppliers to make customers, including the supply chains of Flipkart and Walmart. That openness makes us unique and can truly create opportunities for those who participate. Whether a supplier has ambitions domestically or around the globe, Walmart Vriddhi will give them the tools they need to succeed.”

Pune: Walmart Inc on Monday announced the creation of the Walmart Vriddhi Supplier Development Program (Walmart Vriddhi) to train 50,000 Indian small businesses to ‘Make in India’ for global supply chains. Walmart Vriddhi will actively work with India’s micro, small and medium-size enterprises (MSMEs) to expand domestic capabilities and participate in the global economy.

Suppliers, who desire and potential to grow, will get the tools they need through Walmart Vriddhi. Over the next five years, MSMEs will receive in-person training, a feature unique to this programme, as well as expert advice, access to Walmart’s deep global experience and a network of peers and mentors in their local communities.

Participants will be equipped for both online and offline growth, helping them with tools to potentially become a part of the supply chains of Flipkart, Walmart Global Sourcing and Walmart India, or those of other domestic and international companies.

Announcing the new initiative, President and Chief Executive Officer of Walmart International, Judith McKenna, said, “The Vriddhi programme will encourage suppliers to make customers, including the supply chains of Flipkart and Walmart. That openness makes us unique and can truly create opportunities for those who participate. Whether a supplier has ambitions domestically or around the globe, Walmart Vriddhi will give them the tools they need to succeed.”

Walmart Vriddhi leverages the Walmart international ecosystem and the local knowledge of partner Swasti, an India-based non-profit organisation with deep expertise and a strong track record in community development. The new programme will connect the network of supplier development communities that Flipkart and Walmart already have today in India, expanding and accelerating existing programmes in MSME training, certification and onboarding to empower MSMEs to grow and export to new markets.

Walmart believes that helping local suppliers develop to become part of the wider supply chain in India and globally will help create domestic jobs and sustained growth for the MSME sector. Consumers will be able to access quality goods from India, no matter where in the world they are buying. “With a mission to empower, Swasti is proud to come together with Walmart to prepare 50,000 MSME entrepreneurs to unleash their potential and unlock opportunities through Walmart Vriddhi.” said Shiv Kumar, Founder and Chief Mentor, Swasti.

Together, Walmart and Swasti will deliver high-quality education via university partners at 25 Walmart Vriddhi institutes across India, making training accessible locally in the communities where MSME entrepreneurs live and work. The institutes will be opened over the next five years at pan-India locations convenient for MSMEs from a wide variety of industries and product categories. 

The training will cover all aspects of business management, promoting customer-centric strategies and best practices in workforce management and environmental sustainability. It will emphasize empowering entrepreneurs, including women entrepreneurs, for lasting success.

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