New Delhi: To allow state MSMEs to digitize their companies and sell goods online as part of the Walmart Vriddhi Supplier Development Programme, the Telangana government and the multinational retail corporation Walmart have signed a Memorandum of Understanding (MoU).
The agreement was signed on Tuesday by Telangana’s Industries and Commerce Department and Swasti, the programme partner for Walmart’s Vriddhi Supplier Development Programme in India, to “facilitate the development of local MSMEs towards accessing a wider domestic market space, leverage online retail, and enable sustained growth and commercialization.”
Following the MoU, Walmart would assist MSMEs in Telangana with capacity building by helping them digitize their companies. MSMEs will be able to participate in domestic supply chains both offline and online as a result, the report claimed.
Jayesh Ranjan, Principal Secretary, Industries & Commerce Department, Government of Telangana, said MSMEs from different parts of Telangana are flourishing and bringing recognition to our state. “MSME form a strong backbone to the country’s economy, and we must help them scale up and equip them with digital tools and technology to promote their business growth.”
The Vriddhi project provides small businesses free training, professional advice, tools, and skills to help them develop and flourish. Additionally, it offers mentoring and training seminars. Over 32,000 MSMEs, according to the business, have already finished the course.
“We launched Walmart Vriddhi in 2019, intending 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,” said Jason Fremstad, Senior Vice President, Supplier Development at Walmart.
Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, said Telangana is an essential market for the company and home to thousands of MSMEs, some of whom have already benefitted from the 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,” he said.
