The MoU aims to strengthen the existing Walmart Vriddhi program by providing data insights and technical assistance to MSMEs across India
NEW DELHI, April 02, 2024: Dun & Bradstreet, a global leader of business data and analytics, and Swasti, the program partner of the Walmart Vriddhi Supplier Development Program (Walmart Vriddhi), announced a Memorandum of Understanding (MoU) to strengthen support for micro-, small- and medium-size enterprises (MSMEs) across India.
The Walmart Vriddhi program provides free training, mentoring and digital tools to help small businesses grow, scale, and integrate into domestic supply chains. Dun & Bradstreet enables companies around the world to improve their business performance.
The MoU aims to expand business support services for participating MSMEs. Dun & Bradstreet will provide D-U-N-S® Numbers to all MSMEs registered for the program. A D-U-N-S® Number is assigned through Dun & Bradstreet’s patented identity resolution process, (part of its DUNSRight™ data governance, which includes thousands of separate automated checks). The D-U-N-S Number is used as the starting point for any company’s Live Business Identity, which helps ensure the most accurate and up-to-date view of organizations, and enhances the credibility of MSMEs that seek partners or capital in the course of their business.
A company’s D-U-N-S Number may be referenced when:
Dun & Bradstreet will also provide two learning modules on Government schemes for MSMEs and ESG, which will help simplify the complex information that MSMEs seek, to identify the right programs and opportunities to help them scale.
Jason Fremstad, Senior Vice President, Supplier Development, Walmart said, “Through this partnership, we are channeling the expertise and resources of both Dun & Bradstreet and Swasti to further a holistic ecosystem for MSMEs to excel in the eCommerce landscape. This will help small businesses unlock more growth opportunities. We hope to see these businesses thrive in the digital economy and scale to new heights.”
Joseph Julian, Senior Director, Swasti, expressed optimism about the collaboration, stating, ‘Since its inception, Walmart Vriddhi has been engaged with MSMEs to support their learning and market connectivity, which has contributed to their business growth, particularly on eCommerce platforms. We are glad that this MoU with Dun and Bradstreet will empower MSMEs associated with the Walmart Vriddhi program to further gain and grow in their businesses.'”
Preeta Misra, Senior Director, Credibility & Business Insights Group (CBIG), ESG and SME, Dun & Bradstreet, emphasized the significance of the partnership in supporting MSMEs. “We are delighted to deepen our partnership with Swasti through the Walmart Vriddhi program. By providing D-U-N-S® Numbers freely, we hope to enhance the visibility of participating businesses, enabling them to access opportunities. Additionally, by contributing content for the learning module, we’re investing in skilling initiatives, empowering MSMEs with the knowledge and tools they need to thrive.”
Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better – anytime and anywhere – in stores, online, and through their mobile devices. Each week, approximately 255 million customers and members visit more than 10,500 stores and numerous eCommerce websites in 19 countries. With fiscal year 2024 revenue of $648 billion, Walmart employs approximately 2.1 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, on X (formerly known as Twitter) at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.
Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit www.dnb.com.
Dun & Bradstreet Information Services India Private Limited is headquartered in Mumbai and provides clients with data-driven products and technology-driven platforms to help them make faster and more accurate decisions in domains of finance, risk, compliance, information technology, and marketing. Working towards the Government of India’s vision of creating an Atmanirbhar Bharat (Self-Reliant India) by supporting the Make in India initiative, Dun & Bradstreet India has a special focus on helping entrepreneurs enhance their visibility, increase their credibility, expand access to global markets, and identify potential customers & suppliers, while managing risk and opportunity.
India is also the home to Dun & Bradstreet Technology & Corporate Services LLP, which is the Global Capabilities Center (GCC) of Dun & Bradstreet supporting global technology delivery using cutting-edge technology. Located in Hyderabad, the GCC has a highly skilled workforce of over 500 employees and focuses on enhanced productivity, economies of scale, consistent delivery processes, and lower operating expenses.
Visit www.dnb.co.in for more information. Click here for all Dun & Bradstreet India press releases.
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.
BENTONVILLE, Ark., and NEW DELHI, February 13, 2024: Walmart today announced that its supplier development program, Walmart Vriddhi, has achieved its goal of empowering more than 50,000 MSMEs over five years. Launched in December 2019, the program provides free training, mentoring and digital tools to help businesses grow, scale and integrate into domestic supply chains. The program reached this milestone well ahead of schedule.
The program, together with Walmart’s program partner, Swasti, offers local suppliers the chance to access training, mentoring, and business advice while tapping into Flipkart’s platform expertise. The digital training provided to MSMEs covers crucial aspects of business management such as finance, marketing, workforce management and environmental sustainability. This empowers entrepreneurs to establish successful and sustainable business models, while contributing to employment opportunities in local communities.
The program is accessible across India and has played a pivotal role in connecting MSMEs in key centres such as Moradabad and Agra (Uttar Pradesh), Panipat (Haryana), Bhopal (Madhya Pradesh), Surat (Gujarat), Guwahati (Assam), and Tirupur (Tamil Nadu). This connection with consumers nationwide is also achieved through collaborations with the respective states governments. The Walmart Vriddhi graduates, who have already been integrated into the Flipkart Marketplace, have witnessed approximately 55% growth Y-o-Y.
Jason Fremstad, Senior Vice President, Supplier Development, at Walmart, said, “Empowering MSMEs is at the heart of Walmart’s commitment to fostering inclusive economic growth. I commend the 50,000+ Walmart Vriddhi graduates for their unwavering dedication to the initiative. The rapid growth they have achieved stands as a testament to the program’s robust curriculum, effective delivery and the valuable partnerships forged at every step. We eagerly anticipate these businesses reinvesting in their communities, generating new jobs, stimulating local value chains and economies, and acting as catalysts in India’s burgeoning economy.”
Rakesh Krishnan, Vice President and Head of Marketplace at Flipkart said, “Flipkart’s mission is to create opportunities for sellers to thrive in the digital age. The Walmart Vriddhi program has significantly enhanced Flipkart’s capacity to serve as a preferred platform. It has enabled first-time sellers to establish connections and reach buyers across the country, democratizing eCommerce on a large scale and setting off a chain reaction that contributes to more livelihoods and greater prosperity.”
Joseph Julian, Program Director, Swasti said, “Swasti is honored to be a partner in digitizing and empowering over 50,000 MSMEs through the Walmart Vriddhi program. The program underscores the vital importance of comprehensive support systems for entrepreneurs. We are proud to contribute to this significant endeavor and committed to supporting MSMEs through our unique learning modules that are designed to equip them with essential skills for sustainable growth in today’s business landscape.”
Shri Narayan Rane, Minister of Micro, Small and Medium Enterprises of India, said, “As India advances towards achieving a $5 trillion economy, a substantial portion of this growth will be driven by a competitive and productive MSME sector, serving as a catalyst for economic expansion and job creation. The government actively supports the promotion and development of the MSME sector across all states.” He further added, “Initiatives like the Walmart Vriddhi program play a pivotal role in facilitating the digital transformation and growth of MSMEs. I extend my congratulations to the Walmart and Flipkart team for providing over 50,000 Vriddhi graduates with the opportunity to unlock market opportunities.”
The following success stories of a few Walmart Vriddhi graduates exemplify the program’s role in scaling their businesses and achieving success:
Ishita Jolly, Business Development Manager, (manufactures high-quality aluminium foil and butter paper), New Delhi said, “Established in 2008 as a traditional family business, Europhil adapted to the rise in online shopping post-COVID-19. Our digital journey reached a turning point with the transformative partnership with Walmart Vriddhi in 2023. The program provided crucial insights into online business strategies, enhancing our presence on platforms like Flipkart. This knowledge led to a remarkable 15% revenue growth, showcasing the significant impact of the Walmart Vriddhi association on our business.”
Vikalp Maithil: Co-founder, Pavika Organics (Cold pressed oils), Bhopal, Madhya Pradesh said, “Our venture, Pavika Organics, found its true potential with the Walmart Vriddhi program. Joining in April 2022, we experienced a dramatic 40% increase in sales, largely attributed to the program’s mentorship. It guided us in areas like marketing, finance, and brand value. The highlight was onboarding onto Flipkart, which expanded our reach beyond Madhya Pradesh and led to a tenfold sales increase in 2023. The program not only facilitated business growth but also empowered us to navigate the eCommerce landscape effectively.”
Prerna Agarwal: Founder, Samakhya Sustainable Alternatives (Handcrafted lifestyle products), Bikaner, Rajasthan said, “Embarking on the Walmart Vriddhi program in 2023 was a transformative step for Samakhya. The program’s holistic mentorship enabled me to refine our business strategies and train my team effectively. It helped articulate the unique standpoints of our two brands and enhanced our operational efficiency. The emphasis on rural visibility and supply chain improvements was invaluable. Notably, the journey from zero to significant sales figures on platforms like Flipkart, and the expansion of our network to include over 3000 artisans and farmers, are testaments to the program’s effectiveness in propelling Samakhya’s growth and impact in social entrepreneurship.”
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, and 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 Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+, and Cleartrip.
Started in 2007, Flipkart has enabled millions of sellers, merchants, and small businesses to participate in India’s digital commerce revolution. With a registered customer base of more than 500 million, Flipkart’s marketplace offers over 150 million products across 80+ categories. Today, there are over 14 lakh sellers on the platform, including Shopsy sellers. With a focus on empowering and delighting every Indian by delivering value through technology and innovation, Flipkart has created lakhs of jobs in the ecosystem while empowering generations of entrepreneurs and MSMEs. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns, which are customer-centric innovations that have made online shopping more accessible and affordable for millions of Indians. For more information, please write to media@flipkart.com.
