Walmart International chief executive Judith McKenna has reiterated the US retail giant’s commitment to export $10 billion worth of goods out of India annually by 2027, which she said will create a network of small and medium enterprises selling to the company’s global buyers and help in the Make-in-India programme.
“We think this will open a global opportunity for SMEs to spread the communities and accelerate India’s progress as a manufacturing destination that can export to the world,” McKenna told a CII conference Monday. “I actually love the phrase ‘Make in India for the world,” she added.
McKenna leads Walmart’s global operations consisting of 24 international markets outside of the US. In India, Walmart employs about 140,000 staff, mainly in its Flipkart Group unit. With the Flipkart acquisition, Walmart also inherited PhonePe digital payment cogmpany. McKenna said PhonePe currently does about 20 billion UPI transactions a year. McKenna lauded India’s enterprising ecosystem, especially in the digital economy space.
“We have seen incredible signs of India’s enterprising spirits accelerating through Covid and I hope the way the world looks at India, they see what we see … that is extraordinary public commitment to make it a digital economy,” she said over video conferencing. “We see a nation of entrepreneurs with a spirit that is hard to match, and we see an opportunity to support and build new businesses that can realise India’s potential.”
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