Walmart is actively seeking to form partnerships with new Indian suppliers and manufacturers in order to expand its product basket and enter newer categories. It considers India to be one of its top sourcing priorities.
“We continue to find new category expansion and opportunities to go beyond apparel and home, which have historically been sourced from India. Our sourcing strategy is to have the right product at the right price and make sure they are sourced in a trusted way,” Andrea Albright, executive VP, sourcing, at Walmart, said.
The US-based retailer is already collaborating with local suppliers to obtain toys, shoes, and bicycles in order to meet its goal of purchasing $10 billion worth of goods from India annually by 2027.
For bicycles, the firm just announced its first export order with Punjab-based Hero Eco Group, Albright said. “We are working with Micro Plastic on toy exports. We are also exploring all categories of shoes, ranging from flip-flops to athletic shoes. We have an order for shoes from India underway,” she added.
Walmart has been sourcing goods from India for more than 20 years now, and it claims that India-made apparel, jewelry and homeware, among other products, reach customers in 14 markets, including the US, Canada, Mexico, and the UK.