NSIC, Walmart Pact To Play Critical Role In Enabling MSMEs To Reach $2 Trillion Worth Of Exports By 2030: Govt

The National Small Industries (NSIC) and Walmart Global Sourcing India Private Limited have signed a pact which will extend NSIC schemes and other services to MSMEs participating in Walmart's Vriddhi programme.

Walmart's Vriddhi is a supplier development program that aims to work with 50,000 Micro, Small and Medium Enterprises (MSMEs) in India to expand their domestic capabilities and participate in the global economy.

The MoU, which was signed on Tuesday (6 December) in the presence of Union MSME Minister Narayan Rane, will play a critical role in enabling MSME’s reach $2 trillion worth of exports by 2030, the MSME Ministry said on Wednesday (7 December).

Moreover, the MSMEs would get the exposure to various advantages of gaining working capital, bulk procurement support etc, under various opportunities offered by NSIC.

During the event, Narayan Rane said, “I'm glad to see that Walmart's Vriddhi programme 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," he added.

Gaurang Dixit, Chairman-Cum-Managing Director, NSIC, 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," Dixit added.