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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.

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