News: Wal-Mart to source goods worth $600 m from India

(BL 19/10/2006) Bangalore - Wal-Mart Stores Inc on Wednesday announced that it is on course to source directly more than $600-million goods in 2006 from suppliers in India for the company's stores around the world. Last year, the company's Indian arm WM Global Sourcing India Pvt Ltd directly procured more than $ 400-million goods from suppliers in India. In addition, Wal-Mart bought a substantial amount of Indian-made goods through importers. Major categories sourced from the country include home textiles, apparel, fine jewellery and house wares, said a company release. Appoints GM Wal-Mart has appointed Rajnish Kapur as General Manager of WM Global Sourcing India to oversee sourcing from India, Nepal and Sri Lanka. Earlier, Kapur was working as Vice-President, Hardlines & Home Division of Li & Fung Ltd, in charge of accounts for several leading retailers. "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. We expect that direct sourcing from the region will continue to grow as suppliers in the region are innovative and respond quickly to new trends and business opportunities," said Kapur. Wal-Mart Global Procurement began its activities in India in 2001 with the opening of a sourcing liaison office in Bangalore and this year grew to a full subsidiary with more than 120 associates.