Over 32,000 MSMEs have already completed training under the Walmart Vriddhi Supplier Development Program
Hyderabad, India, July 25, 2023: Walmart and Flipkart today announced the signing of a Memorandum of Understanding (MoU) with The Industries & Commerce Department, Government of Telangana, to create an ecosystem aiding capacity building for MSMEs in the state. The MoU was signed in the presence of Dr. Jayesh Ranjan, Principal Secretary, Industries & Commerce Department, Government of Telangana, and Joseph Julian KG, Programme Director, Swasti.
The MoU, signed between Swasti and The Industries & Commerce Department, Government of Telangana, has been inked to facilitate the development of local MSMEs towards accessing a wider domestic marketspace, leverage online retail and enable sustained growth and commercialisation.
Under the new partnership, Walmart will extend its support to help MSMEs digitise their businesses and fuel capacity building for the state of Telangana. This will enable MSMEs to be a part of the offline and online domestic supply chains.
In partnership with Swasti, Walmart Vriddhi Supplier Development Program (Walmart Vriddhi) offers small businesses and entrepreneurs a complete learning platform and provides free training, in-depth expert assistance, and tailored tools and skills required to grow and expand their businesses. To facilitate the expansion and improvement of small and medium enterprises, training seminars and mentoring sessions are conducted regularly. MSMEs are now registering for the programme from tier 2 and tier 3 cities across India, along with key cities including Hyderabad, Delhi, Bengaluru, Mumbai, Surat, Panipat and Kolkata.
On the signing of the MoU, Dr. Jayesh Ranjan, Principal Secretary, Industries & Commerce Department, Government of Telangana, said, “MSMEs from different parts of Telangana are flourishing and bringing recognition to our state. MSMEs form a strong backbone to the country’s economy, and it’s crucial that we help them scale up and equip them with digital tools and technology to promote their business growth. We are happy to collaborate with Walmart Vriddhi to provide guidance and the support required to strengthen MSMEs and achieve greater success through the programme.”
The Walmart Vriddhi program provides a digitally enhanced learning experience through online modules with personalised feedback and one-on-one advisory sessions. Over 32,000 MSMEs have already completed the training.
Commenting on the partnership, Jason Fremstad, Senior Vice President, Supplier Development, Walmart, said, “We launched Walmart Vriddhi in 2019 with the intention to equip 50,000 Indian MSMEs with the skills necessary to succeed in business. From streamlining supply chains to implementing data-driven insights, these skills enable them to make informed decisions, identify emerging trends, and seize opportunities for innovation and expansion. Through Vriddhi, we are committed to empowering MSMEs with comprehensive learning opportunities to level the playing field and help ensure that MSMEs can not only survive but also thrive. 32,000 MSMEs to date have embraced the digital route, and it is a testament to the power of equipping them with future-ready skills.”
Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, “Telangana is an important market for us and home to thousands of MSMEs, some of whom have already benefitted from our expanded pan-India reach. We want to sustain this momentum, support the state’s artisans, entrepreneurs, and MSMEs, and provide them with a thriving ecosystem to flourish and profit. We are happy to be a part of this initiative and extend our help.”
Joseph Julian, Programme Director, Swasti, said, “The development and expansion of MSMEs in the state will be aided by this relationship with the Telangana government. Through the Vriddhi initiative, we are dedicated to helping MSMEs become more resilient for the future and supporting their participation in local and national supply chains.”
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better, anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and on eCommerce websites. With fiscal year 2021 revenue of $559 billion, Walmart employs 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.
Swasti, a part of the Catalyst Group, is headquartered in Bengaluru, India and active globally with a footprint in 30 countries, was founded in 2004. Swasti co-designs demonstrable and scalable solution models in partnership with communities on the ground and influences policies nationally and internationally. Over the past 15 years, Swasti has directly reached over 400,000 people through its initiatives, including more than 238,000 factory workers, the majority of whom are women.
The program has enabled the MSMEs to expand their domestic capabilities to reach a pan-India consumer base
NEW DELHI, India and BENTONVILLE, Ark., June 27, 2023: Walmart today announced that 32,000+ MSMEs have completed training under the Walmart Vriddhi Supplier Development Program (Walmart Vriddhi) since the program launch in December 2019. Over 6,000 of these MSMEs have been onboarded and are active on Flipkart’s marketplace giving them a much wider access and reach to a pan-India consumer base.With the country’s GDP slated to approach $5 trillion by 2028, the Indian MSME sector is projected to be worth $1 trillion in the same year, thereby becoming a key pillar of India’s economic growth and playing a pertinent role in realising the vision of a self-reliant nation. While the sector contributes about 33% of India’s total GDP today and accounts for about 120 million jobs across regions and industries, it simultaneously also consists of small-scale entrepreneurs like women, marginal entrepreneurs, traditional craftspeople, and local artisans who lack the skills of doing business in today’s digital environment.
Walmart believes that helping these local entrepreneurs and suppliers with tools to expand their business will help them become part of a wider supply chain, create more domestic jobs, and provide sustained growth for the Indian MSME sector. Walmart’s five-year MSME investment plan is to train 50,000 MSMEs across India by 2024 through the Walmart Vriddhi program with its local program partner, Swasti.
Since the launch of the program in 2019, Walmart has been equipping MSMEs with on-demand learning modules. These modules include but are not limited to marketing, finance, streamlining of supply chain management, implementing data-driven insights to make informed decisions, and identifying emerging trends to seize opportunities for innovation and expansion, among others, to enable them to grow and scale their business both online – whether on Flipkart or other marketplaces – and offline. To further aid the learning program, Walmart also provides the MSMEs with access to a community of entrepreneurial peers along with personalised mentoring sessions.
Jason Fremstad, Senior Vice President, Supplier Development, at Walmart, said, “We launched Walmart Vriddhi in 2019 with the intention to equip 50,000 Indian MSMEs with the skills necessary to succeed in business. From streamlining supply chains to implementing data-driven insights, these skills enable them to make informed decisions, identify emerging trends, and seize opportunities for innovation and expansion. Through Walmart Vriddhi, we are committed to empowering MSMEs with comprehensive learning opportunities to not only level the playing field but also help ensure that MSMEs can not only survive but also thrive. Witnessing over 30,000 MSMEs to date embrace the digital route is a testament to the significance of equipping them with future-ready skills.”
Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, said, “At Flipkart, we are committed to the growth of MSMEs and building an enabling and inclusive e-commerce ecosystem. MSMEs are the backbone of India’s growth and digitization will play a crucial role in helping them explore new growth opportunities. We are delighted to play a part in helping local businesses leverage the power of e-commerce through Walmart Vriddhi and Flipkart Samarth. We will continue to deepen our engagement with all stakeholders to expand opportunities to local businesses across India.”
The strong digital ecosystem in India will be a catalyst for MSMEs in the coming years. With over 32000 MSMEs completing the program, below are stories of a few Walmart Vriddhi graduates across different parts of India who have successfully scaled their businesses, made a mark for themselves and are thriving in the industry:
<span=”bogle-medium”>NEW DELHI, India and BENTONVILLE, Ark., December 6, 2022: Walmart and Flipkart today announced the signing of a Memorandum of Understanding (MoU) with the National Small Industries Corporation (NSIC) to jointly accelerate capacity building for micro, small and medium enterprises (MSMEs) across India. The partnership is also aimed at supporting MSMEs in their journey towards becoming a part of retail supply chains, locally and globally. The MoU was signed at the Walmart Vriddhi Seller Summit in New Delhi, an event marking the milestone of 20,000 MSMEs having completed their training under the Walmart Vriddhi Supplier Development Program (Walmart Vriddhi), of which, Swasti is a program partner. The event was attended by Shri Narayan Rane, Honorable Union Minister for Micro, Small and Medium Enterprises, Government of India, and Shri Gaurang Dixit, Chairman-Cum-Managing Director, National Small Industries Corporation (NSIC).
The partnership with NSIC will enable a greater number of small businesses and entrepreneurs across India to access the Walmart Vriddhi program, which offers a complete learning platform with training provided free of cost, along with access to expert assistance required to grow and expand their businesses. The Walmart Vriddhi program also includes training, seminars and mentoring sessions conducted regularly for MSMEs. Tens of thousands of MSMEs have registered for the program from metros and Tier II and III cities across India, and over 20,000 MSMEs have completed the program successfully. The partnership will enhance access for participating MSMEs to schemes offered by the NSIC while making learning resources of Walmart Vriddhi available to MSMEs registered with the NSIC.
Shri Narayan Rane, the Honorable Minister of Micro, Small and Medium Enterprises of India, said, “I’m glad to see that Walmart’s Vriddhi program has enabled a large number of Indian MSMEs to expand, boost their production, and experience growth. Walmart has been instrumental in enabling MSMEs with training and capacity building, especially through the pandemic. The Indian MSME sector currently comprises of 6.3 crore MSMEs that employ more than 11 crore people. We look forward to Walmart’s continued support to the growing MSME sector in the country.”
Shri Gaurang Dixit, Chairman-Cum-Managing Director, at NSIC, said, “NSIC is committed to the growth and development of a robust MSME sector in India. We look forward to working with Walmart Vriddhi to help MSMEs under the program get access to our schemes and make the learning resources of Walmart Vriddhi available to MSMEs under NSIC. Through this partnership, MSMEs across the country can get the necessary support required to further expand their businesses nationally and across the globe.”
Jason Fremstad, Senior Vice President, Supplier Development, at Walmart, said, “Walmart is deeply proud to announce the graduation of over 20,000 MSMEs from the Walmart Vriddhi program today. We are delighted to play a role in catalyzing the entrepreneurial spirit in India and supporting the growth ambitions of small business owners with this program. With our ongoing commitment to triple exports from India by 2027 to $10 billion annually, we look forward to supporting more small businesses in their efforts by providing potential access to online and offline markets in India and globally.”
Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, said, “As a homegrown company, we are passionate about the growth of Indian MSMEs and building an enabling and inclusive e-commerce ecosystem. We are excited and committed to be part of India’s economic growth story by helping millions of local businesses adopt e-commerce via Walmart Vriddhi and Flipkart’s marketplace. Technology and innovation will play a critical role in the growth of small businesses in India. With that mission, our efforts are focused on helping them digitize their business and explore growth opportunities through e-commerce. We are delighted to continue to deepen our engagement with NSIC through this MoU and expand opportunities to small businesses, artisans, weavers across India.”
Many local homegrown brands have already benefited from training provided by the Walmart Vriddhi program.
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and eCommerce websites. With fiscal year 2021 revenue of $559 billion, Walmart employs 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.
Flipkart offers Indian sellers a strong platform to reach domestic customers with end-to-end eCommerce solutions and logistics.The Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, and Flipkart Wholesale. Started in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India’s e-commerce revolution, with a registered customer base of over 300 million, offering over 150 million products across 80+ categories. Our efforts to democratise e-commerce in India, drive access and affordability, delight customers, create lakhs of jobs in the ecosystem and empower generations of entrepreneurs and MSMEs have inspired us to innovate on many industry firsts. The recent launch of Flipkart Wholesale, our new digital marketplace, is a testament to our commitment to accelerate the growth of kiranas and MSMEs in India. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns – customer-centric innovations that have made online shopping more accessible and affordable for millions of Indians. Together with Myntra, which holds a prominent position in the online fashion market, and now Flipkart Wholesale, the Flipkart Group will continue to steer the transformation of commerce in India through technology.
Swasti, a part of the Catalyst Group, is headquartered in Bengaluru, India and active globally with a footprint in 30 countries, was founded in 2004. Swasti co-designs demonstrable and scalable solution models in partnership with communities on the ground and influences policies nationally and internationally. Over the past 15 years, Swasti has directly reached over 400,000 people through its initiatives, including more than 238,000 factory workers, the majority of whom are women.
