Walmart to triple sourcing from India to $10 billion by 2027

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.