Hyderabad: Walmart Vriddhi aims to empower 1 lakh MSMEs by 2028 with training on business tools

Hyderabad: Walmart’s supplier development program, Walmart Vriddhi, announced on Thursday that it will be partnering with Ideas to Impact Foundation (i2i) with an aim to empower 1,00,000 MSMEs in India in the next three years.

The company said it has already trained 70,000 MSMEs (micro, small and medium enterprises) under the program since 2019 by combining digital learning with business tools to modernise, scale and grow their business.

“The program provides MSMEs with digital tools, personalised mentorship and market access to expand their reach both nationally and internationally, supporting sustainable business models and cross-border trade via Walmart Marketplace,” the company said in a statement.

Training MSMEs

Since its launch in 2019, Walmart Vriddhi said it has trained over 70,000 MSMEs by enabling access to digital commerce, personalised mentorship and strategic partnerships. By using digital tools to train MSMEs in crucial aspects of business management such as finance, marketing, workforce management and environmental sustainability, the program empowers entrepreneurs to establish successful and sustainable business models.

Walmart Vriddhi graduates have experienced approximately 55 per cent year-on-year growth through the program‘s enablement, the company said.

What is the program about?

Participants will benefit from an approach devised by Walmart, Flipkart and the program’s implementing partner, Ideas to Impact Foundation, through access, outreach and program management expertise.

With foot-on-ground teams, enablers, access to digital skilling tools, onboarding and personalised mentorship, the program is building a high-impact engine to empower its participants.

“We are constantly inspired by India’s vibrant innovation ecosystem and the growth potential of its MSMEs. Many micro enterprises face difficulties in securing the knowledge, tools and market access they need to thrive. Empowering these entrepreneurs with critical business skills and market access has helped them to build and scale their business sustainably, and contribute to India’s economic growth story,” said Jason Fremstad, senior vice-president, Supplier Development, Walmart.

“As we enter the next phase of Walmart Vriddhi, we’re empowering MSMEs with new tools for digital growth, sustainability and export readiness, and we continue to provide these for free. Through the Walmart Supplier Academy’s eLearning modules and new ecosystem partnerships, we’re going beyond skilling to enable businesses to sell through Walmart Marketplace and Flipkart. At Walmart, we’re proud to support India’s small businesses in building a future that’s bigger, more digital and more connected than ever before,” he further added.

As MSMEs scale their operations, the Walmart Vriddhi program said it will continue to help them pursue their international ambitions by enabling access to cross-border trade via the Walmart Marketplace (Walmart.com). It will also provide businesses with tools to integrate into supply chains, including those of Flipkart Marketplace, Walmart Marketplace or any other online platforms.

Collaborations with Flipkart

Rajneesh Kumar, SVP and chief corporate affairs officer, Flipkart Group, added, “Our unwavering commitment at Flipkart is to empower MSMEs by democratising access to digital commerce and vast growth opportunities. Through strategic collaborations like Walmart Vriddhi, we are collectively enabling entrepreneurs to scale their aspirations and significantly contribute to India's burgeoning digital economy.”

The program has signed a Memorandum of Understanding (MoU) with the governments of Haryana to facilitate onboarding and empower success, and will soon sign additional MoUs with other States.

To participate in the Walmart Vriddhi program, MSMEs can register on their website— walmartvriddhi.org.

To further simplify information for entrepreneurs, the Walmart Vriddhi website now contains a consolidated resource platform for small businesses to access offerings from Walmart’s group companies and other resources. MSMEs can access onboarding links for Flipkart, Myntra, and Walmart Marketplace, domestic payment solutions, and initiatives across the Walmart and Flipkart ecosystem tailored to support small businesses and artisans entering domestic and global eCommerce.