Walmart, the renowned retail giant based in the United States, has set its sights on procuring toys, shoes, and bicycles from Indian suppliers as part of its plan to increase exports from India to a substantial USD 10 billion annually by 2027.

Share Market Live

NSE

According to a spokesperson from the company, Walmart is also seeking to establish new supplier partnerships in various categories, including food, pharmaceuticals, consumables, health and wellness, as well as apparel and home textiles.

In recent times, representatives from Walmart held a virtual meeting with several Indian toy manufacturers to communicate their specific requirements and expected quality standards. This direct engagement with domestic toy makers highlights Walmart's commitment to sourcing products directly from them.

The fact that global retailers like IKEA are already sourcing toys from India for their international operations underscores the significance of this move and reflects India's growing prominence in the toy industry. It is noteworthy considering that India used to be a net importer of toys until a few years ago.

A spokesperson from Walmart confirmed the company's intentions, stating, "Walmart's efforts to expand sourcing from India involve strengthening collaborations with existing suppliers and facilitating the development of new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, as well as apparel and home textiles. We are also exploring opportunities in the areas of toys, shoes, and bicycles." In December 2020, Walmart made a commitment to triple its exports of goods from India to USD 10 billion annually by 2027, which will greatly benefit micro, small, and medium-sized enterprises (MSMEs) in India.

"The expansion in sourcing will include helping develop hundreds of new suppliers in categories such as food, pharmaceuticals, consumables, health & wellness and general merchandise, along with apparel, homeware and other key Indian export categories," it had said.

Earlier this month, Walmart Inc President and CEO Doug McMillon reaffirmed its commitment during his visit to India and said that India's unique ecosystem of suppliers will help the company in achieving its goal of exporting goods worth USD 10 billion from the country annually by 2027.

Addressing Indian suppliers, Doug McMillon has reaffirmed the roadmap for strengthening partnerships with Indian communities, expanding opportunities for Indian businesses and fostering transformative and innovative solutions for retail from India to the world.