Walmart Sources $30 Billion In India Goods In 20 Years

(CTN News) – Over the past two decades, American retail giant Walmart has sourced products worth $30 billion from India, while striving to achieve a $10 billion annual sourcing target by 2027, Andrea Albright, executive vice-president of Walmart’s sourcing department, revealed here on Tuesday.

At Walmart’s first mega seller’s growth summit in India, Albright discussed accelerating Walmart’s commitment to exporting from the country as the overarching theme.

A two-day sellers’ summit will take place in New Delhi on February 13 and 14. This will be Walmart’s second such event outside of the United States.

It was held in Mexico earlier this year. It was traditionally held in the US annually for about a decade under the name “Open Call,” but last April, it was rebranded as a sellers’ gathering in Mexico. The United States is on track to meet its commitment of $10 billion annually by 2027, according to Albright to Business Standard.

Although she did not provide an estimate of the current amount of sourcing from India, market estimates estimate it to be approximately $3 billion per year.

To achieve Walmart’s goal of $10 billion by 2027, it must triple its exports over the next four years.

The retail major has announced its intention to expand into India for the first time outside of the United States.

“To hear pitches from companies, we brought members from our supply chain team in the US, Flipkart and PhonePe, as well as our Sourcing Innovation Team,” Albright said.

As compared to earlier summits in the US and Mexico, the Growth Summit brings together export-ready suppliers and over 100 Walmart merchants. During the next two days, these global buyers will evaluate products presented by Indian sellers and entrepreneurs.

Albright commented, “Investing in high growth markets like India allows us to strengthen our relationships with established suppliers, as well as develop relationships with new ones in order to achieve long-term continuity, diversity, and global supply.”.

From toys to bicycles, food to health, wellness, general merchandise, apparel, and home textiles, Indian products can be sourced in a number of categories. In the US market, India-sourced products are the most popular.

“Some of the new categories that we are focusing on include toys, electronics, shoes, and shelf-stable food products, such as cookies and crackers.” Albright explained.

Walmart’s sourcing operation operates independently of its subsidiaries Flipkart and PhonePe. Flipkart was acquired by Walmart in 2018.

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