Tribune News Service
New Delhi, December 10
Walmart has announced its intention to triple its exports of goods from India to $ 10 billion each year by 2027.
The expansion in sourcing will include categories such as food, pharmaceuticals, consumables, health & wellness, and general merchandise, along with the existing mainstays such as apparel and homeware, said a company news release.
Walmart annually sources goods worth about $3 billion, mainly apparel, homeware and jewellery to 14 markets, including the US, Canada, Mexico, Central America and the UK.
Walmart has sourced goods from India for more than 20 years and helped build new capabilities in packaging, marketing and supply chain management, said Doug McMillon, president and chief executive officer of Walmart Inc.
To accelerate its India exports, Walmart will strengthen development of the supply chain ecosystem in India, both by boosting existing exporters and by expanding the nation’s pool of export-ready businesses.