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walmart: Walmart hopes to be a part of Indian economy for decades: CEO Doug McMillon

Walmart chief executive Doug McMillon said India has a very bright future and that his company, the world’s largest retailer, is “hoping to be a part of this economy for decades and decades”.

“There’s going to be a lot of growth here and I think it’s going to be inclusive growth,” McMillon said, while addressing the Indian suppliers and partners across Walmart and its units Flipkart, PhonePe, Walmart Global Tech and Walmart Sourcing on Tuesday in Bengaluru.

About 20 years ago, McMillon’s responsibility was in merchandising and at that time India was considered to be a great opportunity from a sourcing point of view for Walmart’s other markets, within a very narrow set of categories.

“To be here today and to understand that India has these opportunities across so many categories is really exciting to me,” McMillon said.

What happens in India in the next 20 years is going to be remarkable, he said. Walmart is building an ecosystem of suppliers and partners, including small and medium enterprises, to meet the company’s goal of sourcing $10 billion of Indiamade goods by 2027, he said. “Walmart is committed to India and we are here for the long term.

We are excited about the Indian suppliers and partners who make quality, affordable, and sustainable products for our customers and members around the world.

We are proud that our business can support India’s growth by creating jobs, strengthening communities, and accelerating India’s progress as a manufacturing destination,” McMillon said.Walmart’s leadership met a cross-section of suppliers, merchants, grantees, artisans and MSMEs across its key India programmes and initiatives. Walmart International chief executive Judith McKenna said the entrepreneurial and innovative spirit in India is more exciting than anywhere else around the world.

“This is a country that is forecasted to be the world’s third largest economy by 2030, which is extraordinary. But what we see is much more than that,” McKenna said. The entrepreneurial and innovative spirit is all about opportunity, she said.

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