Connect with us

Hi, what are you looking for?

Opinion

Walmart Makes Big Change To Skyrocket Its Profits

via CNBC

Walmart is shifting its imports to the United States from China to India, with a quarter of its U.S. imports coming from India and a decrease in imports from China.

This shift is driven by cost-cutting and the need to diversify the supply chain.

Walmart’s growth in India, including its commitment to import $10 billion of goods annually by 2027, reflects its efforts to build manufacturing capacity in the country. (Trending: Chilling Surveillance Program Under Biden Exposed)

“We want the best prices,” Andrea Albright, Walmart’s executive vice president of sourcing stated.

“That means I need resiliency in our supply chains.”

“I can’t be reliant on any one supplier or geography for my product because we’re constantly managing things from hurricanes and earthquakes to shortages in raw materials.”

“We’re a growth business and are working to source more manufacturing capacity,” Walmart said.

“Happy to see India emerge as an attractive destination for investment,” Indian Prime Minister Narendra Modi posted.

The rising cost of shipping from China, geopolitical tensions, and the COVID-19 pandemic have also influenced this shift.

“Sourcing from mainland China has become less competitive because of rising labor costs versus other manufacturing centers,” said Chris Rogers, research analyst at S&P Global Market Intelligence’s supply chain analysis group Panjiva.

“Planning for a geopolitical event is like planning for a hurricane,” said Albright.

“What I can control is where my product is coming from and how do I make sure that Christmas still happens if something happens in our supply chain.”

“There is a newfound confidence in the Indian manufacturing industry and also the availability of factory infrastructure,” Freewill’s Chief Executive Rajesh Kharabanda stated.

“In the last 12 to 18 months there has certainly been a bigger impact,” said Shekhar Gupta.

“That’s when Walmart started putting a true strategy behind how they wanted India at the center of their growth.”

Other countries like Pakistan and Bangladesh have also benefited from Walmart’s sourcing strategy.

Most Popular:

Tucker Carlson Predicts 2024 Race Won’t Be Between Biden, Trump

‘Woke’ Target Sells Controversial Christmas Decorations

Donald Trump Makes History

You May Also Like

Media

CNN’s boss Mark Thompson is planning a digital-first transformation for the network by reducing anchor salaries, which currently exceed $50 million. Insiders report he...

U.S. News

Special Counsel David Weiss charged a former FBI informant, Alexander Smirnov, with making false statements and creating false records regarding his allegations about Joe...

Politics

Donald Trump decided not to appeal a recent court ruling rejecting his claim of absolute presidential immunity from civil lawsuits over his actions while...

Opinion

A legal analyst covering a hearing on the eligibility of the Fulton County district attorney in the Trump election interference case said it was...

U.S. News

A school principal in Oklahoma faced backlash and threats after it was revealed he also performed as a drag queen. Murnan faced child pornography...

Opinion

New York AG Letitia James imposed a $354 million fine on Donald Trump for fraud, but there is no legal precedent for such a...

Media

A Virginia bill seeking to ban minors’ access to the social media platform TikTok failed to advance out of committee in the Democrat-controlled state...