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Walmart to open 25 institutes in 5 yrs
US retail major Walmart would open 25 institute hubs in India in next five years, which would train 50,000 entrepreneurs from the micro, small & medium enterprises (MSME) sector, said a top company official.
New Delhi: US retail major Walmart would open 25 institute hubs in India in next five years, which would train 50,000 entrepreneurs from the micro, small & medium enterprises (MSME) sector, said a top company official.
The institutes opened under 'Walmart Vriddhi Supplier Development Programme' would be spread across the nation and would be strategically located near the manufacturing clusters and are part of Walmart's "long-term commitment to India", Walmart International President and CEO Judith McKenna said.
However, the retail major did not share the amount, which it would invest to open the network of such institutes but said the move would also help to increase the local sourcing from India. India is presently fifth largest sourcing hub for Walmart's global operation in 14 markets, after China, US, Mexico and Canada.
"In the first five years, our commitment is to train 50,000 MSME entrepreneurs. We will train them at 25 institute hubs strategically located near manufacturing clusters across India so that they are convenient to access," McKenna said. Over the past decade, Walmart is working to bring Indian MSMEs into its supply chain, she said.
"You may not be aware, but we see India as a top-five sourcing market for Walmart today, with a global sourcing hub in Bangalore that already sources Indian products to export to 14 global markets. And we want to do more," she added.
Walmart will proactively work with the Central government, State governments and others to continue to identify the needs of farmers, kiranas, and MSMEs in India. "We will continue to listen and to invest in India," she said.
Presently, Walmart India, operates 27 Best Price Modern Wholesale stores offering nearly 5,000 items in a Cash & Carry wholesale format sources 95 per cent locally.
"We also committed to our best price warehouses that Walmart India will source 25 per cent of all fresh produce directly from farmers who grow it - rather than through middlemen - and then sell that produce in our Cash & Carry stores," she said.
