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Flipkart, Walmart sign pact with India's NSIC to boost MSME exports

09 Dec '22

2 min read

Pic: Shutterstock

Flipkart and Walmart recently signed an agreement in New Delhi with the National Small Industries Corporation (NSIC) to speed up capacity building for micro, small and medium enterprises (MSMEs), help them get the necessary support required to further expand their businesses nationally and across the globe and turn part of global and domestic retail supply chains.

It was signed at a summit to mark the milestone of 20,000 MSMEs completing their training under the Walmart Vriddhi Supplier Development Programme. The programme, which also includes training, seminars and mentoring sessions conducted regularly for MSMEs, has non-governmental organisation Swasti as a partner.

The partnership will enhance access for participating MSMEs to schemes offered by the NSIC while making learning resources of Vriddhi available to MSMEs registered with the NSIC.

"The Indian MSME sector currently comprises 6.3 crore MSMEs that employ more than 11 crore people. We look forward to Walmart's continued support to the growing MSME sector in the country," minister of MSMEs Narayan Rane was quoted as saying by a news agency.

"With our ongoing commitment to triple exports from India by 2027 to USD 10 billion annually, we look forward to supporting more small businesses in their efforts by providing potential access to online and offline markets in India and globally," Jason Fremstad, senior vice president, supplier development at Walmart, said.

Fibre2Fashion News Desk (DS)

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