Walmart Foundation thursday announced that it will invest Rs. 180 crore to support Indian farmers over the next five years.
Walmart India will grow its direct sourcing from farmers to 25% of products sold in its Cash & Carry stores over the same period. It also will seek to source from a local farmer producer organisation in every state where it has stores.
Walmart India CEO Krish Iyer, Walmart India Chief corporate Affairs Officer Rajnish Kumar and Flipkart CEO Binny Bansal accompained McKenna when she toured a vegetable farm. “We are pleased to help to create more opportunities for small holders farmers in India through Walmart’s strenghtened commitment to local sourcing and the Walmart Foundation’s USD 25 million investment to support local farmer productions organisation” said Judith McKenna President and Chief Execution Officer of Walmart Foundation.
“Farmers’ incomes can grow and they can create new business opportunities for local entrepreneurs and help improve access to high-quality produce in their villages and beyond. All of this adds up to a stronger supply chain, stronger local businesses and better lives for smallholder farmers and their families,” she said.