Walmart recently, announced that its supplier development program, Walmart Vriddhi, has achieved its goal of empowering more than 50,000 MSMEs over five years. The program launched in December 2019, provides free training, mentoring and digital tools to help businesses grow, scale and integrate into domestic supply chains. It reached this milestone well ahead of schedule.
The program helps in finance, marketing, workforce management and environmental sustainability. This empowers entrepreneurs to establish successful and sustainable business models. It contributes to employment opportunities in local communities.
The program is accessible across India and has played a pivotal role in connecting MSMEs in key centers such as Uttar Pradesh, Haryana, Madhya Pradesh, Gujarat, Assam, and Tamil Nadu. This connection with consumers nationwide is also achieved through collaborations with the respective state 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.”
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.”
