Team Blitz India
New Delhi: US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027.
The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, according to a company spokesperson.
Officials from the Bentonvilleheadquartered firm recently held a virtual meeting with several domestic toy manufacturers here.
The company informed toy makers about its requirements and said it expected quality standards as it was directly engaging with the domestic toy makers for sourcing.
The move is significant and highlights India’s growing strength in the toy industry, especially since India was a net importer of toys until a few years ago.
Global retailers such as IKEA are already sourcing toys from India for their international operations.
In December 2020, Walmart had committed to triple its exports from India to $10 billion annually by 2027, which it said, would greatly benefit micro, small, and medium-sized enterprises (MSMEs) in India.
On May 15, Walmart CEO Doug McMillon had met Prime Minister Narendra Modi here and reiterated that the company planned exports from India worth $10 billion a year by 2027.
