NEW DELHI: US retail major Walmart will open 25 institute hubs in India in next five years, which would train 50,000 entrepreneurs from the micro, small & medium enterprises (MSME) sector, said a top company official.
The institutes opened under 'Walmart Vriddhi Supplier Development Programe' would be spread across the nation and would be strategically located near the manufacturing clusters and are part of Walmart's "long-term commitment to India", Walmart International President and CEO Judith McKenna said.
However, the retail major did not share the amount, which it would invest to open the network of such institutes but said the move would also help to increase the local sourcing from India.
Walmart will proactively work with the central government, state governments and others to continue to identify the needs of farmers, kiranas, and MSMEs in India. "We will continue to listen and to invest in India," she said. Presently, Walmart India, operates 27 Best Price Modern Wholesale stores offering nearly 5,000 items in a Cash & Carry wholesale format sources 95 per cent locally.
India is presently fifth largest sourcing hub for Walmart's global operation in 14 markets, after China, US, Mexico and Canada. "In the first five years, our commitment is to train 50,000 MSME entrepreneurs. We will train them at 25 institute hubs strategically located near manufacturing clusters across. We will train them at 25 institute hubs strategically located near manufacturing clusters across India so that they are convenient to access," McKenna said.