MOU signed in the presence of Shri Sidharth Nath Singh, Minister of MSME, Govt. of Uttar Pradesh, to help MSMEs in the state with capacity building and support, enabling them to expand their domestic and export capabilities
Lucknow, India, January 6, 2022: Walmart and Flipkart today announced the signing of a Memorandum of Understanding (MoU) with the Export Promotion Bureau, Government of Uttar Pradesh, to create an ecosystem aiding capacity building for MSMEs in the state. Under the partnership, Walmart and Flipkart will help MSMEs digitize their businesses and enable them to sell products across India through online retail. They will also have an opportunity to unlock their export potential and become part of Walmart’s global supply chain.
In collaboration with Swasti, the Walmart Vriddhi Supplier Development Program (Walmart Vriddhi) provides a comprehensive learning platform that includes growth opportunities, free-of-cost training and in-depth expert support to entrepreneurs and small businesses. It also organizes training seminars and mentorship workshops to further enable the growth and development of small and medium businesses. The program pivoted to a digital format in 2020 and Vriddhi e-institutes have since been launched in Panipat, Haryana and Agra, Uttar Pradesh, and with plans to open many more.
On the signing of the MoU,
Launched in 2019, Walmart Vriddhi aims to train 50,000 Indian MSMEs with the business skills necessary to succeed as suppliers to Walmart, sellers on Flipkart, and other domestic and global marketplace platforms. 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. The program provides a digitally enhanced learning experience through online modules with personalized feedback and one-on-one advisory sessions.
Commenting on the partnership, Nidhi Munjal, Vice President, International Partnership Services, Walmart said, “We look forward to expanding our ongoing partnership with the Government of Uttar Pradesh and supporting their efforts to build a robust MSME ecosystem, by providing opportunities to access online and offline markets in India and globally through local training and support. We are committed to tripling our exports from India to $10 billion annually by 2027, and will keep extending our support to small businesses, enabling them to grow and prosper in India and globally.”
Jagjeet Harode, Senior Director & Head – Marketplace, Flipkart, said, “Flipkart’s partnership with the Government of Uttar Pradesh on the ODOP scheme has been a huge success, registering 52% quarterly growth since January 2020, across various product categories. Through programs like Walmart Vriddhi and Flipkart Samarth, we are committed to empowering Uttar Pradesh’s MSMEs, artisans and craftsmen and will continue providing them with the ecosystem support they require to grow and benefit through pan-India access for eCommerce marketplace operations.”
N Raghunathan, Cofounder and Mentor, Swasti, said, “This partnership with the Government of Uttar Pradesh will greatly enhance the growth and development of MSMEs in the state. Through the Vriddhi program, we are committed to helping local businesses build resilience for the future and facilitating their participation in national and global supply chains.”
About Walmart
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.
About Swasti
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.