Walmart, Flipkart join hands with NSIC to help MSMEs grow, unlock potential

Walmart and Flipkart on Tuesday joined hands with the National Small Industries Corporation (NSIC) to accelerate capacity building for micro, small and medium enterprises (MSMEs) across India, help them unlock export potential and become part of retail supply chains locally and globally.

The agreement was signed at a summit here to mark the milestone of 20,000 MSMEs completing their training under the Walmart Vriddhi Supplier Development Programme, of which Swasti is a programme partner.

The Vriddhi programme also includes training, seminars and mentoring sessions conducted regularly for MSMEs. Tens of thousands of MSMEs have registered for the programme from metros and Tier II and III cities across India.

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 said, adding, "We are trying to increase exports from the sector."

Through Vridhhi programme being implemented by Walmart and Flipkart, all MSMEs by way of getting e-marketing support or digitization will be benefitted, National Small Industries Corporation CMD Gaurang Dixit said.

Through this partnership, MSMEs across the country can get the necessary support required to further expand their businesses nationally and across the globe, he added.

Jason Fremstad, Senior Vice President, Supplier Development at Walmart, said, "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."

Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, said: "Technology and innovation will play a critical role in the growth of small businesses in India. With that mission, our efforts are focused on helping them digitise their business and explore growth opportunities through e-commerce. We are delighted to continue to deepen our engagement with NSIC through this MoU and expand opportunities to small businesses, artisans, weavers across India.