Flipkart, Walmart partners with NSIC to boost MSME sector

By

Maverick Martins

Published
Dec 7, 2022

E-commerce major Flipkart along with its parent firm Walmart have signed a Memorandum of Understanding (MoU) with the National Small Industries Corporation (NSIC) to boost the micro, small and medium enterprises (MSMEs) across India.

With this partnership, small businesses and entrepreneurs across India will be given training under Walmart’s Vriddhi programme to help them take their business online.

Commenting on the initiative, Narayan Rane, minister of MSME for India in a statement said, “Walmart has been instrumental in enabling MSMEs with training and capacity building, especially during the pandemic period. The Indian MSME sector currently has 63 million enterprises that employ more than 110 million people. We look forward to Walmart’s continued support to the growing MSME sector in the country."

Rajneesh Kumar, chief corporate affairs officer at Flipkart Group added, “Technology and innovation will play a key role in the growth of small businesses in India. With that mission, our efforts are focused on helping them digitise their business and explore growth opportunities via 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.”

Walmart first launched services to aid MSMEs at the start of the pandemic in India last year with the aim of helping them to reach new markets and increase sales. It aims to train 50,000 micro, small, and medium enterprises in India by 2024.