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Walmart reaffirms commitment to hike India sourcing to $10bn by 2027
Global retail giant Walmart on Tuesday reaffirmed its commitment to increase annual sourcing from India to $10 billion by 2027.
'I have been coming to India for a long time now and over the years you can see how the story is unfolding -- broadening and becoming much more interesting. Earlier, we were sourcing products from only some limited categories, but our sourcing business has grown a lot and now we have this goal of getting to $10 billion a year,' Doug McMillon, president and chief executive officer at Walmart Inc.
McMillon was speaking at a showcase of the company's many businesses in India during his two-day trip to the country, highlighting its growth story, covering exports, digital innovation, building inclusive supply chains and empowering communities.
'It's rare to have such a big economy growing so fast and creating so much opportunity for so many and we want to be part of that process,' McMillon added.
The company has been present in India for over 20 years and had acquired a controlling 77 per cent stake in Flipkart in 2018. As part of this, it had also gained a controlling stake in the online payment platform PhonePe. The company has sourced goods worth over $30 billion from India in the last two decades.
'Years ago, we got the opportunity to invest in Flipkart and PhonePe and the way our teams have done to grow those businesses over the years has been inspiring,' he said.
PhonePe is gearing up for an initial public offering and is reportedly set to file its draft papers in early August.
'We have a long-term point of view. You can see that from the many years that we've been here and you can expect that to continue. We see the growth in India,' he further said.
Meanwhile, McMillon also interacted with sellers trained under the company's supplier development programme-- helping micro, small and medium enterprises (MSME) -- Walmart Vriddhi.
Through its Vriddhi initiatives, Walmart is empowering the Indian MSMEs with critical business skills and market access, which has helped them to scale their business sustainably and contribute to India's economic growth story.
Launched in 2019, the programme has trained over 70,000 MSMEs so far by enabling access to digital commerce, personalised mentorship and strategic partnerships. Earlier this month, the company said it is connecting with one lakh more MSMEs in the next three years under the programme.
The world's largest retailer clocked revenues worth $681 billion in 2025.
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