Walmart, Flipkart join hands with Telangana to develop MSMEs

Hyderabad: Walmart and Flipkart on Tuesday announced the signing of a Memorandum of Understanding (MoU) with the Industries and Commerce Department, Government of Telangana, to create an ecosystem aiding capacity building for MSMEs in the state.

The MoU was signed in the presence of Dr Jayesh Ranjan, principal secretary of the Industries and Commerce Department and Joseph Julian KG, program director, Swasti.

The MoU, signed between Swasti and the Industries and Commerce Department, has been inked to facilitate the development of local MSMEs towards accessing a wider domestic market space, to leverage online retail and enable sustained growth and commercialisation.

Under the new partnership, Walmart will extend its support to help MSMEs digitise their businesses and fuel capacity building for the state of Telangana. This will enable the MSMEs to be a part of the offline and online domestic supply chains.

Comprehensive training programs

In partnership with Swasti, Walmart Vriddhi Supplier Development Program (Walmart Vriddhi) offers small businesses and entrepreneurs a complete learning platform and provides free training, in-depth expert assistance and tailored tools and skills required to grow and expand their businesses. To facilitate the expansion and improvement of small and medium enterprises, training seminars and mentoring sessions are conducted regularly. The program has seen MSMEs registrations from tier 2 and tier 3 cities across India, along with key cities including Hyderabad, Delhi, Bangalore, Mumbai, Surat, Panipat and Kolkata.

Dr Jayesh Ranjan said, “MSMEs from different parts of Telangana are flourishing and bringing recognition to our state. MSMEs form a strong backbone to the country’s economy and it’s crucial that we help them scale up and equip them with digital tools and technology to promote their business growth. We are happy to collaborate with Walmart Vriddhi to provide guidance and the support required to strengthen MSMEs to achieve greater success through the program.”

The Walmart Vriddhi program provides a digitally enhanced learning experience through online modules with personalised feedback and one-on-one advisory sessions. Over 32,000 MSMEs have already completed the training.

Commenting on the partnership, Jason Fremstad, senior vice president, Supplier Development at Walmart, said, “We launched Walmart Vriddhi in 2019 with the intention to equip 50,000 Indian MSMEs with the skills necessary to succeed in business. From streamlining supply chains to implementing data-driven insights, these skills enable them to make informed decisions, identify emerging trends, and seize opportunities for innovation and expansion. Through Vriddhi, we are committed to empowering MSMEs with comprehensive learning opportunities to level the playing field and ensure that MSMEs can not only survive but also thrive. That 32,000 MSMEs to date have embraced the digital route is a testament to the power of equipping them with future-ready skills.”

Pan-India recognition

Rajneesh Kumar, chief corporate affairs officer of Flipkart Group, said “Telangana is an important market for us and home to thousands of MSMEs, some of whom have already benefitted from our expanded pan-India reach. We want to sustain this momentum, support the state’s artisans, entrepreneurs, and MSMEs and provide them with a thriving ecosystem to flourish and profit. We are happy to be a part of this initiative and extend our help.”

Joseph Julian, program director, Swasti, said, “The development and expansion of MSMEs in the state will be aided by this relationship with the Telangana government. Through the Vriddhi initiative, we are dedicated to helping MSMEs become more resilient for the future and supporting their participation in local and national supply chains.”