Mumbai: Retail giant Wal-Mart Stores Inc would source goods worth over $600 million from India by the year-end, around 50 per cent more than in 2005, the chain's global procurement division said in a press release.
The global retailer said major categories of goods procured from India include home textiles, apparel, fine jewellery and household items that are supplied to the company's stores around the world. Wal-Mart has bought a substantial amount of Indian-made goods through importers, the release added.
"Wal-Mart's position as one of the leading buyers of Indian products is a position carefully earned over the years through close partnership with our suppliers," the release said.
The Indian sourcing division, based in Bangalore, started operations in 2001, directly buying goods worth over $400 million from Indian suppliers in 2005. The Indian office now serves as the hub for sourcing merchandise from the region for Wal-Mart stores across the world.
The company also announced the appointment of Rajnish Kapur as general manager of Wal-Mart's Global Sourcing India Private Ltd to oversee the company's operations in India, Nepal and Sri Lanka.