MoU signed in the presence of Shri Jayanta Mallabaruah, Honorable Minister of Public Health Engineering, Skill, Employment & Entrepreneurship, and Tourism Department, Government of Assam to assist local MSMEs with capacity building and support, enabling them to expand their domestic and international capabilities.
Guwahati, India, August 04, 2022: Walmart and Flipkart today announced the signing of a Memorandum of Understanding (MoU) with the Industries & Commerce and Public Enterprises Department, Government of Assam and Public Health Engineering, Skill, Employment & Entrepreneurship, and Tourism Department, Government of Assam to form an ecosystem which supports and aids the digitization of local MSMEs in the state. Under this tripartite agreement, MSMEs will benefit from Walmart and Flipkart’s assistance in digitizing their operations and expanding their reach across India. Additionally, they can expand their export potential and join the global supply chain of Walmart.
Through this partnership with Swasti, Walmart Vriddhi Supplier Development Program (Walmart Vriddhi) offers small businesses and entrepreneurs a complete learning platform and provides expansion opportunities, free training, in-depth expert assistance and the right tools and skills required to grow and expand their business. 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 metros including Delhi, Bangalore, Mumbai, Surat, Hyderabad, and Kolkata.
On the signing of the MoU, Honorable Minister of Public Health Engineering, Skill, Employment & Entrepreneurship, and Tourism Department, Government of Assam, Shri Jayanta Mallabaruah said, “MSMEs are the growth engine of our state, and we are determined to help them become successful in India and across the world. The Government of Assam has launched several initiatives to equip entrepreneurs with the necessary skills to grow their business. The Walmart Vriddhi program will help them become competitive not just in the domestic market but also get connected with major export destinations globally. I would like to thank Walmart and Flipkart for the partnership. We look forward to working together to build a robust MSME ecosystem in Assam.”
Walmart Vriddhi was launched in 2019 with the aim to equip 50,000 Indian MSMEs with the business skills required to be successful as Walmart suppliers, Flipkart sellers, and on other domestic and international marketplaces. Thousands of Vriddhi MSME graduates across multiple states are being trained to expand their domestic capabilities and participate in global supply chains, helping them build sustainable businesses, generate employment, and increase exports. Currently, the learning program is conducted digitally with MSMEs receiving personalized feedback and one-on-one advisory sessions.
Talking about this collaboration, Nidhi Munjal, Vice President, Supplier Development – India, Walmart, said, “We are pleased to announce our partnership with the Government of Assam and honored to support their initiatives to expand and create a strong digital ecosystem for MSMEs. Assam is fast emerging as a major investment hub for MSMEs. Through the Walmart Vriddhi program, we want to offer MSMEs an opportunity to develop the necessary skills to grow in domestic and international markets. This collaboration will accelerate our efforts to digitize local MSMEs while helping them achieve their highest potential.”
Jagjeet Harode, Senior Director & Head – Marketplace, Flipkart, said, “The partnership with the Government of Assam is a continuation of Flipkart and Walmart’s commitment to empower MSMEs, artisans, weavers, and women entrepreneurs across every state in India. Through programs such as Walmart Vriddhi and Flipkart Samarth, our aim is to assist them with business expansion on online marketplaces. We look forward to working with MSMEs from Assam, helping them build capacity and take advantage of the rapidly growing digital economy in India.”
N Raghunathan, Cofounder and Mentor, Swasti, said, “The development and expansion of MSMEs in the state will be aided by this relationship with the Assam government. Through the Vriddhi initiative, we are dedicated to helping MSMEs in becoming more resilient for the future and supporting their participation in regional, national, and global 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 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.
MoU signed in the presence of Honorable Lieutenant Governor of Jammu & Kashmir, Shri. Manoj Sinha and Honorable Union Minister of State for Commerce and Industry, Smt. Anupriya Patel, to assist local MSMEs with capacity building and support, enabling them to expand their domestic and international capabilities.
Srinagar, India, July 15, 2022: Walmart and Flipkart today announced the signing of a Memorandum of Understanding (MoU) with the Jammu & Kashmir Trade Promotion Organisation (a Government of J&K Undertaking) to create an ecosystem aiding capacity building for MSMEs in the region. Through this partnership, Walmart and Flipkart will enable local MSMEs to digitize their businesses and sell products online across the country. Furthermore, this work provides the opportunity to potentially access Walmart’s global supply chain which will enable them to tap into its global market.
Through Swasti, Walmart Vriddhi Supplier Development Program (Walmart Vriddhi) provides entrepreneurs and MSMEs with free training, in-depth support, growth opportunities and the right tools to grow and expand their business. Additionally, to facilitate business growth and development of small and medium enterprises, training seminars and mentorship workshops are organized routinely. Currently, MSMEs are enrolling for the program from Delhi, Bengaluru, Mumbai, Surat, Hyderabad, Kolkata, Agra, Panipat and other tier 2 and tier 3 cities across India.
At the MoU signing, in the august presence of Honorable Lieutenant Governor of Jammu & Kashmir, Shri. Manoj Sinha and Honorable Union Minister of State for Commerce and Industry, Smt. Anupriya Patel, it was highlighted that Jammu & Kashmir was witnessing increased investment in the MSME sector, with demand for Jammu & Kashmir made goods rapidly growing in India and across the world. This is expected to help provide employment to local youth and establish Jammu & Kashmir as an aspirational investment destination. The MoU with Walmart and Flipkart on programs like Vriddhi was hailed as a welcome collaboration that will help unlock the region’s true potential, creating an inclusive business environment.
Walmart Vriddhi, which launched in 2019, is designed to equip 50,000 Indian SMEs with the business skills they require to profit from Walmart, Flipkart and other domestic and international marketplaces. Presently, Walmart Vriddhi is training thousands of MSMEs across multiple states and regions to expand their local capabilities, grow and expand their business and become part of global supply chains. With personalized feedback and one-on-one advisory sessions, the online program provides an all-inclusive learning experience.
On this development, Nidhi Munjal, Vice President, Supplier Development – India, Walmart, said, “We are pleased to announce our partnership with the Government of Jammu & Kashmir and support their efforts to grow and build a robust MSME ecosystem. Through our Walmart Vriddhi program, we are eager to provide high-impact training along with equal opportunities for MSMEs to access online and offline markets domestically and internationally. This partnership will be significant for our ongoing efforts to help make local MSMEs competitive and self-reliant.”
Jagjeet Harode, Senior Director & Head – Marketplace, Flipkart, said, “At Flipkart, we continue to make strategic investments in Jammu & Kashmir to further grow and strengthen supply chains. Our projects and programs, such as Reach Project and Flipkart Samarth, are already established well in Jammu & Kashmir. Through these projects and programs, we are committed to expanding the domestic eCommerce marketplace and providing access and support to new sellers, MSMEs, domestic manufacturers, Indian artisans, weavers and handloom workers on our platform.”
N Raghunathan, Cofounder and Mentor, Swasti, said, “This partnership with the Government of Jammu & Kashmir will significantly improve the growth and development of local MSMEs. Through the Walmart Vriddhi program, we are dedicated to helping small businesses accelerate their growth and become more resilient to changing business environments, while enabling them to better participate in national and global 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 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.
Bold designs to win the market
I knew that no one in the Surat saree market had heard of me or my new brand, Maha Rudra Enterprises. Some people would think that the sensible move for a newcomer would be to prioritize putting out sarees with more familiar patterns to catch perennial demand. But I went a different way.
Rather than selling sarees with tried-and-tested designs, I focused on creating exclusive and never-seen-before designs. I also decided to manage the entire end-to-end production –literally from fibre to fabric to finished product.
Today, Maha Rudra Enterprises employs 16 people. We first make fabric from textile fibre in our manufacturing unit. This is then sent to our embroidery factory. After the production process is complete, we package the finished sarees for distribution. We are known for our unique saree embroidery. You will not find the same designs anywhere else.
Bold action in the face of adversity
The second Covid wave hit many businesses hard, forcing shops to comply with restricted business hours. I turned this adversity into an opportunity by onboarding as a seller on Flipkart in June 2021, following advice from a friend. I thoroughly researched the saree category on Flipkart Marketplace first, and discovered that no seller could match my designs. This instantly set us apart, and sales took off.
It is empowering to know that I can sustain my business on Flipkart Marketplace. We are now receiving more orders online than offline. When I began my business, only people who live close by could purchase my sarees; today, we can sell our product anywhere in India.
I joined Walmart Vriddhi after this to further strengthen my business. And I found the learning immediately relevant. Thanks to Walmart Vriddhi I was able to quickly apply what I had learned about quality checks and effective costing when my product return ratio unexpectedly increased. Today, our quality issues and the return ratio both are minimal.
From business theory to practical measures, from maximizing product quality to minimizing wastage, I’ve quickly applied everything I learned during the first two levels of Walmart Vriddhi. At the same time, I’ve maintained my original business strategy: the end-to-end production of exclusive, never-seen-before designs.
Looking ahead, we will keep our focus on sarees and bring even more diversity in our designs.
Our company is focused on the manufacture and supply of designer home furnishings, like bedsheets, comforters, blankets and bed runners, for local and export markets. We blend advanced technology with exquisite craftsmanship, and we have a reputation for luxurious designs, rich colours and a quality finish. Wholesale distribution accounts for about 75% of our business, with the remainder in retail sales.
Connecting with consumers
While pandemic disruption severely impacted our industry and our company, I’m expecting e-commerce to be an engine of business recovery. Demand is definitely shifting online; that’s where consumers and small sellers are increasingly to be found.
One thing I really value about the e-commerce platform is that it provides a direct interface with the consumer. This helps sellers like us to better gauge the market and to gain insights and feedback about our products.
The e-commerce marketplace also offers a shorter payment cycle than the offline wholesale market, which is largely credit based. I am now exploring online channels as a way to grow our business and build resilience.
Selling via online channels
After joining the Walmart Vriddhi program, we are now listing some of our key products on the Flipkart e-commerce marketplace.
There is a lot to learn when you begin selling digitally, especially with an eye on international markets. But with Vriddhi helping us gain the practical know-how of building an export business, I am positive that we will be able to tap more overseas markets in the long run.
The Vriddhi modules cover everything from consumer needs to product development to manufacturing. By applying this knowledge, we are confident that we will be able to realize the potential of e-commerce and increase sales multi-fold via digital selling in the coming year and beyond.
