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

The partnership is aimed at supporting MSMEs in their journey to become a part of retail supply chains, locally and globally. (File Photo: Mint)Premium
The partnership is aimed at supporting MSMEs in their journey to become a part of retail supply chains, locally and globally. (File Photo: Mint)

The partnership with NSIC will enable a greater number of small businesses and entrepreneurs across India to access the Vriddhi programme, which offers a complete learning platform with training provided free of cost, along with access to expert assistance required to grow and expand their businesses.

NEW DELHI: Walmart and Flipkart on Tuesday announced the signing of a memorandum of understanding (MoU) with the National Small Industries Corp. (NSIC) to jointly accelerate capacity building for micro, small and medium enterprises (MSMEs) across India.

The partnership is also aimed at supporting MSMEs in their journey to become a part of retail supply chains, locally and globally, said a press release.

The MoU was signed at the Walmart Vriddhi Seller Summit in New Delhi, an event marking the milestone of 20,000 MSMEs having completed their training under the Walmart Vriddhi Supplier Development Programme (Walmart Vriddhi), of which, Swasti is a programme partner.

The partnership with NSIC will enable a greater number of small businesses and entrepreneurs across India to access the Vriddhi programme, which offers a complete learning platform with training provided free of cost, along with access to expert assistance required to grow and expand their businesses.

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-two and teir-three cities across India, and over 20,000 MSMEs have completed the programme successfully.

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.

“I’m glad to see that Walmart’s Vriddhi program has enabled a large number of Indian MSMEs to expand, boost their production, and experience growth. Walmart has been instrumental in enabling MSMEs with training and capacity building, especially through the pandemic. The Indian MSME sector currently comprises of 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," Union MSMEs minister Narayan Rane said.

“NSIC is committed to the growth and development of a robust MSME sector in India. We look forward to working with Walmart Vriddhi to help MSMEs under the program get access to our schemes and make the learning resources of Vriddhi available to MSMEs under NSIC. Through this partnership, MSMEs across the country can get the necessary support required to further expand their businesses nationally and across the globe," Gaurang Dixit, chairman and managing director, NSIC, said.

“With our ongoing commitment to triple exports from India by 2027 to $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," Jason Fremstad, senior vice president, Supplier Development, Walmart, said.

“With that mission, our efforts are focused on helping them digitize 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," Rajneesh Kumar, chief corporate affairs officer, Flipkart Group, said.

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