Walmart Update: Walmart gave a big blow to China, the company turned to India for cheap imports.

Walmart Update: America’s leading retail company Walmart is now importing more and more goods from India. Walmart is continuously reducing its dependence on China for import of goods. The company is increasing imports from India by reducing dependence on China to improve its supply chain and cut expenses.

Walmart is one of the largest retail companies in the world. According to a report by Reuters, from January to August in the year 2023, the company has imported one-fourth of the imports made in America from India. Whereas in the year 2018 it used to be only 2 percent. Imports from China have come down to 60 percent between January and August, which used to be 80 percent in 2018.

Despite Walmart increasing imports from India, Walmart currently imports the most goods from China. Due to increase in import cost from China as well as increasing political tension between America and China, companies like Walmart are importing more goods from India, Thailand and Vietnam.

Walmart Executive Vice President Andrea Allbright said, we want the best prices. He said that we cannot depend on only one supplier or one region for the import of goods. He said that India has emerged as a key component for Walmart to create manufacturing capacity. Walmart imports everything from toys, electronics items to bicycles and medicines from India. Apart from this, Walmart also imports dry grains and pasta.

Walmart has 77 percent stake in the country’s leading e-commerce company Flipkart. The company also said that by 2027 it will import goods worth 10 billion dollars from India every year. Currently Walmart is importing goods worth 3 billion dollars.