BENTONVILLE, Ark. and NEW DELHI, India, Oct. 27, 2020 — India’s Micro, Small and Medium Enterprises (MSMEs) now have the opportunity to embark on a digitally enhanced entrepreneurial journey through the Walmart Vriddhi Supplier Development Program. The journey features interactive online training experiences and personalized mentoring, with access to resources and experts to support growth. This supports the goals of Digital India by providing MSMEs with the tools to adopt new technologies to expand their business.
The Walmart Vriddhi Program was launched by Walmart Inc. (NYSE:WMT) in December 2019 with the aim to empower 50,000 Indian MSMEs to “Make in India” for domestic and global supply chains. Following the COVID-19 outbreak, the program was reshaped to emphasize digital experiences, and this allowed it to be rolled out to more MSMEs. In the future, it will offer a mix of digital and in-person training, mentoring and network experiences via physical Vriddhi Institutes when conditions are favorable.
The e-institute-based Vriddhi Program provides MSMEs an easy-to-use interactive learning experience through online modules with a blend of teaching and assessment tools. Participants receive personalized feedback through virtual classrooms, formal assessments and one-on-one advisory sessions. To prepare MSMEs to sell through new online and offline channels in India and abroad, the program will also offer advanced training that includes personalized mentoring and the opportunity to work with service providers and peers.
The Vriddhi entrepreneurial journey equips MSMEs with tailored knowledge of key aspects of business management, enterprise growth, customer-centric services, manufacturing best practices, responsible sourcing and more. In response to the challenges brought about by COVID-19, it has been extended to reinforce the ability of MSME leaders to identify strategic issues, expedite digital adoption and increase efficiencies in their businesses.
Judith McKenna, President and CEO of Walmart International, said, “Walmart Vriddhi opens up opportunities for MSMEs to sell into Walmart’s supply chains or the open marketplace. Wherever they are in their journey and whatever their aspirations for growth, that openness makes the program unique and puts the supplier at the center of everything we do.” Designed by Walmart in partnership with the program’s knowledge manager, Swasti, the curriculum is tailored to the business challenges and growth aspirations of MSMEs in the communities in which it is offered.
“Walmart Vriddhi opens up opportunities for MSMEs to sell into Walmart’s supply chains or the open marketplace. Wherever they are in their journey and whatever their aspirations for growth, that openness makes the program unique and puts the supplier at the center of everything we do,” Judith McKenna, president and CEO of Walmart International, said. “With today’s digital enhancements, we’re helping more entrepreneurs expand their capabilities and build sustainable businesses that add value to their communities.”
Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group added, “As India adjusts to the ‘new normal,’ digital transformation is a path to resilience for businesses. In concert with the government’s Digital India initiative, we want to help Indian MSMEs digitize, so they can react to market trends and challenges with speed and agility, better serve their customers and grow their business. Flipkart and Walmart are working together on Vriddhi and other programs to make a real difference for MSMEs and to contribute to sustained economic growth for India.”
Walmart Vriddhi’s first all-digital e-institute will initially be open to MSMEs in Panipat, Sonipat and Kundli, an area that is a hub of textile, steel and kitchenware production with a strong entrepreneurial heritage and a skilled workforce. Eligible MSMEs can access the digital training experience through a mobile application available on iOS and Android in both English and Hindi.
Vriddhi will progressively roll out e-institutes to other regions in India, providing tailored training, mentoring and ecosystem support.
“The need to work with India’s MSME sector and its workforce to enable holistic measures to support their growth and evolution has never been more pressing than it is today. The multi-level, online training approach that the Vriddhi Program affords is tailored to address the identified needs of the MSMEs and will help them build and adapt their businesses to serve domestic and global supply chains. This will fast track their growth and ensure longevity for their business,” Shiv Kumar, Co-founder and Chief Mentor, Swasti, said.
In recent months, Walmart has actively worked with its various MSME suppliers and Panipat-based businesses to help them cater to the rising demand for essential PPE and hygiene products. Flipkart Samarth has also helped local artisans, weavers and many rural & women entrepreneurs get back to business. Drawing on the extensive eCommerce experience Walmart and Flipkart have in India, as well as in wholesale retail and sourcing for global markets, Swasti has extended advisory support to MSMEs on financial schemes, government programs and business operations, offering best practices for business realignment and continuity during these challenging times.
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, over 265 million customers and members visit approximately 11,500 stores under 56 banners in 27 countries and eCommerce websites. With fiscal year 2020 revenue of $524 billion, Walmart employs over 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.
I joined my family business Shree Shakti Enterprises after completing my MBA from Amity University a decade ago. We have been bulk traders of steel utensils since 1956 and have also been supplying kitchenware to Walmart Best Price for the last nine years.
Over these years, my father has been my biggest mentor. He too has overcome several challenges, but nothing like the impact that the COVID-19 crisis has had on our business.
As India went into a nationwide lockdown in March, four of our manufacturing units in Sonipat, Haryana had to be shut down. With demand for our kitchenware falling drastically, I got very worried about my workforce and how I would support them in this challenging time.
I remembered I had seen a hand wash station that doctors use in hospitals and I thought we could tweak the model to make it work through a foot pedal instead of our hands. Convincing my father wasn’t an easy task – he discouraged from going to the factory due to the COVID-19 scare. But I still went to my factory and stayed there for a few days and built the first prototype which was set up near our residential colony.
As people started giving good feedback, my father came on board. There has been no looking back since then!
I also sent a prototype to Walmart India. With the help of their feedback on technical feasibility and commercial viability, I was able to fine tune the product. Thanks to their suggestion, I have also built a sensor based sanitizer dispenser. In fact, I have built an automatic foot sanitizer too.
For the hand wash station, I have crossed 1,100 orders and these have been set up in various government offices as well and also several private sector companies in the automobile sector. This has led to up to Rs 1.5 crore in sales during the lockdown. I also have orders worth another Rs 2.5 crore.
I am also on board the Walmart Vriddhi supplier development program and I feel this will help my business achieve even greater heights. It will be helpful to learn the best business practices to scale the MSME ecosystem and spread our wings.
