New Delhi [India], June 19 : Walmart's supplier development program, Walmart Vriddhi, has partnered with Ideas to Impact Foundation (i2i) to empower an additional 100,000 MSMEs in India over the next three years.
According to an official release, Walmart Vriddhi's free program will help enable more MSMEs to expand access to both national and international markets.
Further, it said Walmart Vriddhi has trained over 70,000 MSMEs by enabling access to digital commerce, personalised mentorship and strategic partnerships, since its launch in 2019.
The programme empowers entrepreneurs to establish successful and sustainable business models by using digital tools to train MSMEs in crucial aspects of business management such as finance, marketing, workforce management and environmental sustainability.w
Walmart Vriddhi graduates have experienced approximately 55 per cent year-on-year growth through the program's enablement.
Participants will benefit from an approach devised by Walmart, Flipkart and the program's implementing partner, Ideas to Impact Foundation, through access, outreach and program management expertise. With foot-on-ground teams, enablers, access to digital skilling tools, onboarding and personalised mentorship, the program is building a high-impact engine to empower its participants.
"Many micro enterprises face difficulties in securing the knowledge, tools and market access they need to thrive. Empowering these entrepreneurs with critical business skills and market access has helped them to build and scale their business sustainably, and contribute to India's economic growth story," said Jason Fremstad, Senior Vice President, Supplier Development, Walmart.
"As we enter the next phase of Walmart Vriddhi, we're empowering MSMEs with new tools for digital growth, sustainability and export readiness, and we continue to provide these for free. Through the Walmart Supplier Academy's eLearning modules and new ecosystem partnerships, we're going beyond skilling to enable businesses to sell through Walmart Marketplace and Flipkart. At Walmart, we're proud to support India's small businesses in building a future that's bigger, more digital and more connected than ever before," he further added.
The Walmart Vriddhi program will continue to help them pursue their international ambitions by enabling access to cross-border trade via the Walmart Marketplace (Walmart.com), the release said.
It will also provide businesses with tools to integrate into supply chains, including those of Flipkart Marketplace, Walmart Marketplace or any other online platforms.
Rajneesh Kumar, SVP and Chief Corporate Affairs Officer, Flipkart Group, added, "Our unwavering commitment at Flipkart is to empower MSMEs by democratizing access to digital commerce and vast growth opportunities. Through strategic collaborations like Walmart Vriddhi, we are collectively enabling entrepreneurs to scale their aspirations and significantly contribute to India's burgeoning digital economy."
Walmart will also engage with strategic partners to drive inclusive growth, as part of its efforts to broaden the reach and impact of the program.
The program has signed a Memorandum of Understanding (MoU) with the governments of Haryana to facilitate onboarding and empower success, and will soon sign additional MoUs with other states. Building on the success of Walmart Vriddhi in India, similar supplier development initiatives have been launched in Mexico (Crece con Walmart) and the US (Grow with US).
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