Walmart Expands Vriddhi Program, Aims to Onboard 1 Lakh More Indian MSMEs

Walmart Expands Vriddhi Program, Aims to Onboard 1 Lakh More Indian MSMEs

Walmart Expands Vriddhi Program, Aims to Onboard 1 Lakh More Indian MSMEs

US retail giant Walmart announced on Thursday its ambitious plan to onboard an additional 100,000 Micro, Small, and Medium Enterprises (MSMEs) in India to its supplier development program, Walmart Vriddhi, over the next three years. 

This significant expansion underscores Walmart's commitment to strengthening its sourcing from India for global operations, a goal for which it had previously set a target of $10 billion in annual exports by 2027.

 The initiative aims to empower Indian MSMEs with essential business skills and broader market access, facilitating their sustainable growth and contribution to India’s economic prosperity.

To achieve this goal, Walmart Vriddhi has strategically partnered with the Ideas to Impact Foundation (i2i). 

This collaboration is designed to leverage the combined strengths of Walmart’s extensive global supply chain and Flipkart’s robust e-commerce capabilities, thereby enabling more MSMEs to expand their reach into both national and international markets. 

Jason Fremstad, Senior Vice President of Supplier Development – Sourcing at Walmart International, expressed enthusiasm for this new phase, highlighting its potential to deepen support for MSMEs by expanding market linkages through both the Flipkart and Walmart marketplaces.

Launched in 2019, the Walmart Vriddhi program has already made substantial progress, having trained over 70,000 MSMEs by providing access to digital commerce tools, personalized mentorship, and strategic partnerships. 

The success of this initiative in India has even prompted Walmart to replicate similar supplier development programs in other regions, including "Crece con Walmart" in Mexico and "Grow with US" in its home country, the United States. 

This global expansion signifies the program's proven effectiveness in fostering small business growth.

Participants in the expanded Walmart Vriddhi program will benefit from a tailored approach developed by Walmart, Flipkart, and the Ideas to Impact Foundation, leveraging their collective expertise in access, outreach, and program management. 

Fremstad also revealed the introduction of new learning tools within the program, focusing on crucial areas such as visual growth, sustainability, and export readiness for small businesses. 

The continuous effort to forge new partnerships with ecosystem enablers aims to provide MSMEs with not only knowledge but also vital networks and growth opportunities.

Rajneesh Kumar, SVP and Chief Corporate Affairs Officer at Flipkart Group, emphasized the critical role of MSMEs for Flipkart and highlighted their own initiative, "Samarth." 

This program is dedicated to empowering Indian artisans, weavers, and micro-enterprises by providing them with a platform to reach a wider audience and grow their businesses, including a dedicated landing page on the Flipkart app for customers to explore artisan-made products. 

Kumar underscored that through strategic collaborations like Walmart Vriddhi, they are collectively enabling entrepreneurs to realize their aspirations and significantly contribute to India’s burgeoning digital economy. 

Walmart has a long-standing presence in India, having sourced over $30 billion worth of goods from the Indian market in the last two decades for its global operations, and continuously expanding its sourcing basket to include a wider range of products.