Thursday,Oct 19,2006
Wal-Mart sourcing from India to cross $600 mn http://www.business-standard.com/common/storypage.php?autono=262278&leftnm=1&subLeft=0&chkFlg=
BS Reporter / Bangalore October 19, 2006
Retail major Wal-Mart has announced that it is on course to directly source more than $600 million worth of goods this year from suppliers in India for the company's stores around the world.
The company in 2005, through its arm - WM Global Sourcing India - directly sourced more than $400 million from suppliers in India. In addition, Wal-Mart bought a substantial amount of Indian-made goods through importers. Major categories sourced from India include home textiles, apparel, fine jewellry and house wares.
To oversee the company's sourcing from India, Nepal and Sri Lanka, has appointed Rajnish Kapur as general manager of WM Global Sourcing India.
"Wal-Mart's position as one of the major buyers of Indian products is a position carefully earned over the years through close partnership with our suppliers. We expect that direct sourcing from the region will continue to grow as suppliers in the region are innovative and respond quickly to new trends and business opportunities," said Kapur.
Wal-Mart Global began its activities in India in 2001 with the opening of a sourcing liaison office in Bangalore, and by 2006 it has grown to a full subsidiary with more than 120 associates.
The office in India serves as a hub for sourcing merchandise from India, Nepal and Sri Lanka to Wal-Mart stores around the world.
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