During his India visit, Walmart CEO Doug McMillon called on the Indian Prime Minister Narendra Modi to discuss Walmart’s future plans for investing in India. The PM tweeted on Sunday that the meeting with McMillion was a successful one and that they had an insightful conversation.
Indian Prime Minister Narendra Modi met with Walmart CEO Doug McMillon to discuss India’s unfolding as an enticing place for investment by major multinational companies (MNCs). The PM declared in a tweet on Sunday that the meeting was an insightful and fruitful one.
Walmart is looking forward to being a part of India’s growth towards becoming one of the major suppliers in the world. The Chief Executive Officer (CEO) of Walmart reinforced his intention of investing in India and announced that Walmart is looking forward to export worth $10 billion/ year from India by 2027.
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Walmart to export $10 billion worth of goods per year from India by 2027
Prime Minister Narendra Modi tweeted on Sunday that his conversation with CEO Doug McMillon was an insightful and fruitful one.
The PM further added in his tweet that he is happy to see India emerge as a top destination for investment by major multinational companies around the globe.
PM Narendra Modi tweeted, “The meeting with Mr. Doug McMillon was a fruitful one. We had insightful discussions on different subjects. Happy to see India emerge as an attractive destination for investment.”
Doug McMillon had called on the Indian Prime Minister last week and had a meeting with him on Thursday. On Friday the official twitter of Walmart tweeted that the company wholeheartedly thanks PM Narendra Modi for his hospitality and that it is excited to achieve the goal of exporting $10 billion worth per year from India by 2027.
McMillon also elaborated that the company is working towards making India a global export leader by pushing forward India’s manufacturing growth and creating opportunities.
Walmart Inc. had tweeted, “We are working toward exporting $10 billion per year from India by 2027 and are dedicated to strengthening skill development, logistics, and supply chains to make India a global export leader in toys, seafood, and other goods.”
PhonePe to potentially go for an India listing
CEO Doug McMillon was on a Bengaluru trip last week where he discussed the company’s future plans of investing in India.
He reinforced Walmart‘s determination of building a network of suppliers and partners to meet the company’s goal of sourcing $10 billion worth of export per year by 2027.
He further added that the ecosystem of suppliers and partners will also include Small and Medium Enterprises (SMEs) as they are the driving force of a country’s economy.
According to reports, the CEO Doug McMillon was speaking with a wide group of suppliers, artisans, merchants, grantees, and the Ministry of Micro, Small & Medium Enterprises (MSMEs). The company is looking forward to including all the groups mentioned in its future plans and programmes.
McMillon also reportedly had conversations with companies Flipkart and PhonePe. Walmart owns the majority stakes in both the companies.
During his visit, he also mentioned that PhonePe will likely go for an India listing and that it won’t compete with its sister company, Flipkart.
