Walmart Marketplace Expansion Boosts Women Entrepreneurs in India
Walmart, a wholly-owned subsidiary of retail behemoth Walmart Stores, is in an expansion mode to support sellers in India and help increase the international product assortment in the company’s online marketplace. The move could prove to be a boost for the women entrepreneurs in the country, particularly women who own 20 percent of any micro, small or medium business.
According to Kara Valikai, Senior Manager, Women’s Economic Empowerment, Walmart, supporting women-owned businesses and increasing Walmart’s sourcing from women across the world is a concrete goal. “Through Walmart’s Women’s Economic Empowerment Initiative, the company aims to train nearly 1 million women, augment its sourcing from women. In doing so, the company aims to improve the lives of underserved women”, says Valikai. He added, “In India, we are proud to support Luxor, a women-owned business that makes pens for our stores in India and our Walmart business around the world.”
Michelle Mi, Walmart Vice President, Emerging Markets and Business Development – Global Sourcing, said Indian sellers, especially women-owned businesses, would be able to leverage Walmart’s global supply chain infrastructure. In the process, the company will extend support to help these sellers reach millions of customers in the United States. The opportunity to easily access global consumers can be transformative for Indian sellers, he said.
The company said India is already among its top sourcing markets and it aims to export $10 billion in goods from India each year by 2027. A report published by the EdelGive Foundation stated that the number of women-owned businesses in India is likely to grow by 90 percent over the next five years. The report also noted that most women in rural and semi-urban India who start a business see their socio-economic, as well as cultural status, improve “significantly.”
Walmart said Marketplace sellers will also have access to insights, best practices, and business planning strategies so that they can succeed in the United States market. A dedicated team has been set up in India to help these sellers to integrate and grow on the Marketplace. The team will also ensure that sellers meet the sourcing standards of Walmart.
It is worth mentioning here that several Indian companies including Touchstone Gems & Jewelry, Welspun, Mahi Exports, and Delphi Leather India are among the few Indian companies that have already featured on Walmart Marketplace.
In 2017, the company had doubled its sourcing from women-owned businesses in the country. According to Walmart India President and CEO Krish Iyer, the intake of women entrepreneurs in the second edition of WEPD in 2018 was doubled compared to the first edition when only 32 women had been selected and trained.
Sixty-four women entrepreneurs, who have been in business for at least three years and with a minimum turnover of $67,000, and are a registered and compliant business, were selected. Other criteria for selection included the ability to scale and create enough capacity to supply to all Walmart stores. The program was funded by Walmart and implemented by WEConnect International in partnership with Amity University and TTC Global.
In India, Walmart owns and operates 21 Best Price cash-and-carry format up-to-date wholesale stores spread across nine states. Last year, the company added 50 more stores. Walmart is also the majority owner of The Flipkart Group, a leading digital e-commerce company in India. The retail giant paid $16 billion for a 77% share of Flipkart in 2018 and joined a group of investors infusing $3.6 billion in additional funding into it in July 2021.
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