Walmart has huge export plans from India helping in the "Make-in-India program"
15 December 2021, Mumbai:
Walmart plans to export $10 billion worth of goods out of India a year by 2027. This is expected to create a network of small and medium enterprises selling to the company’s global buyers and help in the Make-in-India program and accelerate India’s progress as a manufacturing destination that can export to the world.
In India, Walmart employs about 1,40,000 staff, mainly in its Flipkart unit. With the Flipkart acquisition, Walmart also inherited the digital payment company PhonePe, which currently does about 20 billion UPI transactions a year. PhonePe has digitized 25 million small merchants and Kirana stores in India.
Offline merchant transactions on its platform have shown 200 percent growth since last year. PhonePe is probably India’s largest digital payments platform and leads the industry on all key metrics which include value and volume of transactions, registered users as well as merchant coverage.
The Bangalore -based firm now has a merchant network across 15,700 towns and villages, constituting 99 percent of pin codes in the country. PhonePe now has over 335 million registered users.
It is also accepted at over 22 million merchant outlets across India. Using PhonePe, users can send and receive money, recharge mobiles, DTH, pay at stores, make utility payments and also buy and invest in gold and silver.
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