Walmart To Import Shoes, Toys, Bicycles To Boost India Exports

 

USA's leading marketplace, Walmart is looking to boost Indian exports by sourcing its products. The company has recently posted the demand for the imports of toys, bicycles and shoes from India. Walmart is eyeing to extend India exports from 7 billion dollars to 10 billion dollars by the end of FY 2023.

Walmart has recently held a meeting with Indian suppliers and has encouraged them to establish their business in the United States. The company directed Indian exporters about their requirements and quality standards. A spokesperson from Walmart had stated that he believes that there is great potential in India manufactures as they are well versed with the new technology.

Walmart is not only eyeing toys, shoes, bicycles but also looking to boost supply of apparel, clothing, pharmaceuticals, food, consumables, wellness products, and home textiles. As per the India import export data records, the current Indian exports through Walmart are jewellery, homeware, apparel, etc.

Indian toys are gaining momentum in the global market.  The quality of Indian toys has improved significantly over the years. Indian toys exports were mere 96 million dollars during the FY 2015. Since then, the Indian toy exports market has come a long way.

According to the India exports data, the toys exports from India reached 353 million dollars during the financial year 2022. Globally, the United States is the leading importer of Indian toys followed by Germany, Poland, Italy, Belgium and the Netherlands.

On the other hand, there was a decline in Indian toy imports. According to the India import data, the toy imports from India fell from 333 million dollars in 2015 to 109 million dollars in FY 22. Further, the Indian toy market will continue to shine. Through Walmart, Indian toy makers can make their effective presence in the US market.

India is currently the third largest shoe exporter in the world. India's last year footwear exports stood around 2 billion dollars. While in FY22, these exports reached 2.15 billion dollars. As per the import export data reports, the major markets for Indian shoes exports are the United States, Netherlands, United Arab Emirates, Saudi Arabia and China. India is known for exporting high quality footwears. That is why Walmart is likely to give a chance to Indian footwear exporters.

In terms of bicycles, India is the second largest bicycle export market. Annually, India produces over 2 crore bicycles. In the fiscal year 2022, India exports have declined by 21%. According to the India customs data, the bicycle exports from India in 2021 were around 67 million dollars while it came down to 52 billion dollars in the financial year 2022. The top markets for Indian bicycles are Nepal, Germany, United Kingdom, Mozambique, Poland and Tanzania.

Since Walmart is about to give a platform for Indian exports to establish their market in the United States, an Exim intelligence platform can help you set better pricing for your products. Exim Global Trade Intelligence System can help you with required market research. Through this platform, you can analyze USA’s consumer demands, buyers, suppliers and competition. WIth US import data, US export data reports, Indian suppliers can place their products effectively in the USA market and generate quality revenue.