Walmart announces that its supplier development initiative, Walmart Vriddhi, has exceeded its target, empowering over 50,000 Micro, Small, and Medium Enterprises (MSMEs) in just five years. Launched in December 2019, the program aims to bolster MSMEs through free training, mentorship, and digital tools, enabling them to integrate seamlessly into domestic supply chains. Partnering with Swasti, Walmart Vriddhi provides local suppliers with access to essential resources, including training in finance, marketing, workforce management, and environmental sustainability.
Notably, the program leverages Flipkart’s platform expertise, allowing MSMEs to tap into a consumer base of over 500 million across India. States such as Uttar Pradesh, Madhya Pradesh, Tamil Nadu, Telangana, and Assam have signed Memorandums of Understanding (MOUs) with the program, facilitating MSME capacity-building. During the pandemic, Walmart Vriddhi played a pivotal role in helping businesses transition to digital retail, offering crucial advice and resources. Jason Fremstad, Senior Vice President of Supplier Development at Walmart, lauded the dedication of the 50,000+ graduates, highlighting the program’s robust curriculum and effective delivery. He emphasized the potential of these businesses to stimulate local economies and create employment opportunities.
Rakesh Krishnan, Vice President and Head of Marketplace at Flipkart, emphasized the program’s contribution to democratizing eCommerce and creating livelihoods on a large scale.Joseph Julian, Program Director at Swasti, underscored the importance of comprehensive support systems for entrepreneurs, expressing pride in contributing to the program’s success. Shri Narayan Rane, Minister of Micro, Small, and Medium Enterprises of India, commended initiatives like Walmart Vriddhi for facilitating the digital transformation and growth of MSMEs, essential for India’s economic expansion. The success stories of Walmart Vriddhi graduates such as Europhil, Pavika Organics, and Samakhya Sustainable Alternatives demonstrate the program’s efficacy in scaling businesses and driving success in diverse sectors.
