In a strategic move to diversify its global supply chain and lessen dependence on markets like China, US retail giant Walmart is turning to India, a key growth market, to forge ties with new suppliers. With an ambitious goal of sourcing $10 billion worth of goods from India annually by 2027, Walmart is actively seeking to engage with fresh suppliers in the country.

To facilitate this objective, the retail behemoth is organizing its inaugural growth summit in India, marking the first time such an event is being held outside of the US, Chile, and Mexico. This initiative underscores Walmart's escalating focus on India, where CEO Doug McMillon noted significant expansions and scalability in manufacturing capacities.

Beyond merely collaborating with export-oriented suppliers, Walmart is also eyeing partnerships with local startups specializing in innovative supply chain solutions. McMillon emphasized the abundance of opportunities in India, stating, "This growth summit is our next step as we pursue that opportunity and not just with export suppliers but also with innovative companies and startups that have supply chain solutions."

Highlighting India's pool of innovative talent, Walmart aims to harness potential solutions that drive improvements and enhance the efficiency of its value chain. Over the past two decades, Walmart has already procured products worth $30 billion from India, showcasing its longstanding engagement with the country.

To further strengthen ties with Indian suppliers, Walmart has convened over 100 associates across marketplace, sourcing, and merchant teams from various global markets at the summit in Delhi. Andrea Albright, Executive Vice President of Sourcing at Walmart, expressed optimism about the vast potential for growth in diverse categories such as apparel, home, health & wellness, consumables, and food.

With a broad spectrum of opportunities awaiting exploration, Walmart remains committed to expanding its sourcing footprint in India. By fostering partnerships with local suppliers and startups, the retail giant seeks to bolster its supply chain resilience and tap into the innovation-driven ecosystem of the Indian market