Walmart and Flipkart will team up with the Uttar Pradesh government’s Export Promotion Bureau to develop an ecosystem that will help MSMEs digitise their operations and sell items throughout the country through online retail. The Memorandum of Understanding (MoU) inked on Thursday will also provide MSMEs with the chance to tap into their export potential and join Walmart’s global supply chain.
Minister of MSME, Investment and Export in the UP Government Sidharth Nath Singh expressed optimism about the MoU with Walmart Vriddhi and Flipkart, expressing the hope that the partnership would provide the guidance and support needed to strengthen MSMEs and help them achieve greater success through the initiative.
“MSMEs from UP are being recognized the world over, registering record exports this year. With schemes like Ubharte Sitaare and ODOP, the Government is at the forefront of developing a vibrant ecosystem for the MSME sector in the state which will help them boost exports and venture into new markets,” said Singh.
Walmart Vriddhi Supplier Development Programme (Walmart Vriddhi), which was launched in 2019 in conjunction with Swasti, offers entrepreneurs and small enterprises a complete learning platform that includes development possibilities, free training, and in-depth expert assistance. Swasti collaborates with communities on the ground to co-design tangible and scalable solution models and has a national and international impact on policy. Walmart Vriddhi intends to provide 50,000 Indian SMEs with the required business skills to flourish as Walmart suppliers, Flipkart sellers, and other domestic and international marketplace platforms.
According to Nidhi Munjal, Walmart is aiming to give support to small companies, helping them to expand and succeed in India and abroad, as part of its ambition to treble its exports from India to $10 billion yearly by 2027.
According to Jagjeet Harode, Senior Director and Head of Marketplace at Flipkart, Flipkart is already engaging with the UP government on the One District One Product concept.
“The successful partnership has registered 52% quarterly growth since January 2020, across various product categories,” said Harode adding, Walmart Vriddhi and Flipkart Samarth are two programmes that are in keeping with their commitment to empowering UP’s MSMEs, artisans, and craftspeople by providing them with pan-India access to e-commerce marketplace operations.