Walmart To Export $ 10 Billion Worth Of Indian Goods Annually
Walmart to export $ 10 billion worth of Indian goods annually. Veteran retailer Walmart has announced a three-fold increase in its exports from India over the next seven years.
Walmart said that by the year 2027, the company will export goods made in India worth $ 10 billion annually. Walmart announced this in support of the government’s policy of developing India as a manufacturing hub for global markets.
To achieve this goal, Walmart will also accelerate the programs for purchasing products from the Indian market. The entire export target will be sourced by the company from the domestic market itself.
Indian MSMEs will benefit the most from the purchase of goods domestically.
The Sourcing expansion program will add hundreds of new MSME-level suppliers in sectors such as food, pharmaceuticals, consumer products, health, and wellness.
Walmart will further strengthen the supply chain domestically to accelerate its exports from India. For this, new businesses with export potential will be helped with the promotion of existing exporters.
Walmart has been sourcing Indian products for more than 20 years. Walmart Inc.
President and Chief Executive Officer Doug McMillan said that the increase in our annual exports from India in the coming years would strengthen the Make in India initiative.
Sensex surges 243 points in early trade; Nifty also crosses 13,550 points, ONGC up more than 6%
Initial trading in the domestic stock markets witnessed a tremendous boom. In the last trading session of the week, BSE Sensex was seeing a rise of 242.66 points i.e. 0.53 percent at 09:32 am.
In this way, Sensex was trending at the level of 46,202.54 points. This led to Sensex closing at a level of 45,959.88 points in the previous session.
On Friday, the major domestic index Sensex opened at the level of 46,060.32 points and gained momentum over time.
Similarly, at 09:33 am NSE Nifty was trading at a level of 13,550.25 points with a rise of 71.95 points i.e. 0.53 percent.
