In a strong endorsement of the Indian economy and attempt to increase its India footprint, retail giant Walmart Inc (NYSE: WMT) has announced that it will triple its commitment to India by sourcing $10 billion annually from the country by 2027.
The move is expected to provide a significant boost to micro, small and medium-sized enterprises in India and expose their high-quality Made-in-India products to the global marketplace.
Endorsing India’s position as a global manufacturing hub, Walmart will work with the country’s manufacturers in categories including food, pharmaceuticals, consumables, health and wellness, apparel, homeware and general merchandise.
Reacting to Walmart’s decision, the US-India Business Council said the announcement demonstrating its commitment to serving as a partner in India’s growth.
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