Global retail giant Wal-Mart is expected to source U.S. $ 1.2 billion worth of goods from factories and suppliers in India during 2005.
Major categories sourced by the retail chain from India include home textiles, apparel, fine jewelry, and housewares.
In 2004, procurement from India by the company stood at $300 million, directly sourced from factories and suppliers for Wal-Mart's retail stores globally, according to a company statement.
In 2005, Wal-Mart expects sourcing from India to increase to about $400 million, it said.
In addition, the company estimates another $800 million in products to be provided by third-party suppliers.
Wal-Mart's office in Bangalore serves as its Global Procurement hub for the sourcing of merchandise from India, Nepal and Sri Lanka.
The Global Procurement (GP) hub in India overseas the GP in Colombo, it said.
GP India carries out various operations, including merchandise sourcing, quality control/assurance auditing and package design and execution.
It also undertakes ethical sourcing factory compliance inspections, internal audits, and loss prevention (security), the statement said.
"Wal-Mart expects direct sourcing from the region to grow, as suppliers in India, Sri Lanka and Nepal continue to be innovative and supportive of trends for apparel and goods found in Wal-Mart retail outlets," the retailer said. (PTI)
to Daily News