27 June, Mumbai 2025
In his meeting with Prime Minister Narender Modi, Doug McMillon, President and CEO, Walmart Inc reiterated on the company’s steadfast commitment to India's economic growth and its ongoing initiatives to empower local businesses and communities.
The meeting primarily focused on areas such as job creation, empowering micro, small, and medium enterprises (MSMEs), digital inclusion, skill development, and significantly boosting exports from India to global markets.
Reiterating Walmart’s target to source $10 billion from India by 2027, confirmed that the company is actively collaborating with local suppliers to achieve this milestone. India’s growth story has been expanding over the years, he remarks.
Over the past two decades, Walmart has already sourced goods worth over $30 billion from India for its global operations, covering diverse categories including apparel, food, toys, and more.
During his visit, McMillon also engaged with entrepreneurs who have been trained under Walmart Vriddhi, the company’s supplier development program. This initiative aims to connect over 100,000 MSMEs to Walmart's ecosystem within the next three years.
Walmart began its operations in India with the establishment of its sourcing office in Bengaluru in 2002. In 2018, the company forayed into Indian retail market with its $16 billion acquisition of a majority stake in Flipkart. Subsequently, Walmart also acquired a controlling stake in PhonePe, which later became an independent entity. In 2021, Flipkart further expanded its portfolio by acquiring a majority stake in the travel platform Cleartrip.
