Walmart and Flipkart joined hands with the National Small Industries Corporation (NSIC) to accelerate capacity building for micro, small and medium enterprises (MSMEs) across India, helping them unlock export potential, and become part of retail supply chains locally and globally. The agreement was signed to mark the milestone of 20,000 MSMEs completing their training under the Walmart Vriddhi Supplier Development Programme, of which Swasti is a program partner.
The Vriddhi program also includes training, seminars, and mentoring sessions conducted regularly for MSMEs. Tens of thousands of MSMEs have registered for the program from metros and Tier II and III cities across India.
The partnership will enhance access for participating MSMEs to schemes offered by the NSIC while making learning resources of Vriddhi available to MSMEs registered with the NSIC.
Narayan Rane, Minister of MSMEs, said, "The Indian MSME sector currently comprises 6.3 crore MSMEs that employ more than 11 crore people. We look forward to Walmart's continued support to the growing MSME sector in the country. We are trying to increase exports from the sector."
Through Vridhhi program being implemented by Walmart and Flipkart, all MSMEs way of getting e-marketing support or digitization will be benefitted, National Small Industries Corporation CMD Gaurang Dixit said.
Through this partnership, MSMEs across the country can get the necessary support required to further expand their businesses nationally and across the globe, he added.
Jason Fremstad, Senior VP, Supplier Development at Walmart, said, "With our ongoing commitment to triple exports from India by 2027 to $10 billion annually, we look forward to supporting more small businesses in their efforts by providing potential access to online and offline markets in India and globally."
Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, said, "Technology and innovation will play a critical role in the growth of small businesses in India. With that mission, our efforts are focused on helping them digitize their business and explore growth opportunities through e-commerce. We are delighted to continue to deepen our engagement with NSIC through this MoU and expand opportunities to small businesses, artisans, and weavers across India."