New Delhi and Bentonville, Ark. —
Walmart recently wrapped up its inaugural India Growth Summit, an event that marked a significant milestone in fostering partnerships and driving exports from India to global markets. The summit, held in New Delhi, brought together a diverse array of export-ready suppliers, innovators, and entrepreneurs from 24 states and union territories across India.
Among the highlights of the summit was the participation of over 80% of suppliers who received invitations to advance to the next round. These invitations entail opportunities such as participating in bid processes, line reviews, joining Walmart Marketplace, or exploring pilot projects with Walmart.
The selection process for suppliers was rigorous, emphasizing product export capabilities. The three-day summit facilitated crucial meetings between sellers, innovators, and more than 100 Walmart and Sam’s Club associates to explore potential partnerships.
Andrea Albright, Executive Vice President of Sourcing at Walmart, expressed enthusiasm about the quality of products and innovators encountered during the summit. “At Walmart, we see tremendous opportunity in India,” she remarked. “Investing in high-growth markets like India helps us strengthen relationships with established suppliers while fostering new ones, ensuring a diverse and reliable global supply chain.”
Aligned with Walmart’s commitment to source $10 billion in goods from India annually by 2027, the summit aimed to bolster the Make in India initiative, promoting exports across various categories where India holds expertise. These include food, consumables, health and wellness, general merchandise, apparel, shoes, home textiles, and toys.
Moreover, Walmart’s commitment to the Indian market extends beyond sourcing goods. The company, in collaboration with Flipkart, has reached its goal of empowering 50,000 MSMEs (Micro, Small, and Medium Enterprises) through the Walmart Vriddhi program, facilitating their participation in domestic and global supply chains.
Rajneesh Kumar, Chief Corporate Affairs Officer of Flipkart Group, emphasized their dedication to supporting MSMEs, highlighting their role as drivers of India’s economy. “Enabling MSMEs and unlocking inclusive growth while creating new jobs and empowering communities is key to achieving India’s vision of a $5 trillion economy,” he stated.
The success of the India Growth Summit sets the stage for similar initiatives in Mexico and Chile, with Walmart’s annual U.S. Open Call in October serving as the culmination of its yearly supplier development efforts.
For Indian entrepreneurs, the Walmart Growth Summit represents a pivotal opportunity to showcase their products to a global audience. Products must be made, grown, or assembled in India to be considered for the event.
In addition to pitch meetings, the summit featured breakout sessions designed to educate business owners of all sizes on the nuances of doing business with Walmart.
The Walmart India Growth Summit underscores Walmart’s commitment to fostering economic growth in India, empowering local suppliers, and catalyzing India’s integration into global markets. As Walmart continues to champion supplier diversity and innovation, the India Growth Summit stands as a testament to the company’s dedication to creating opportunities for businesses worldwide.
As GrowthWise Group, we recognize the immense value of participating in events like the Walmart India Growth Summit. Our commitment to education and growth extends beyond our organization; it encompasses understanding new market opportunities and staying abreast of evolving industry trends. By attending such summits, we not only enrich our knowledge but also equip ourselves to better serve our clients by offering insights into navigating retail landscapes and seizing emerging opportunities. If you’re looking to place your product in retail and capitalize on expanding markets, we invite you to connect with us. Together, let’s explore avenues for growth and realize the full potential of your business in today’s dynamic retail environment. Reach out to us today to embark on your journey toward retail success.
