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Business EconomyPosted at: Feb 13 2024 6:55PM


Walmart Vriddhi empowers 50,000+ MSMEs to join retail supply chains

Kolkata, Feb 13 (UNI) Walmart on Tuesday 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, according to a media statement.
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 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.”

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.”

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."

UNI SJC KK
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