Walmart will invest Rs 180 crore

New Delhi : Walmart Foundation Thursday announced that it will invest about Rs 180 crore (USD 25 million) to improve farmers’ livelihoods in the country over the next five years.
Walmart India is also planning to grow its direct sourcing from farmers to 25 percent of produce sold in its Best Price cash and carry stores over the same period. Judith McKenna, president and chief executive officer, Walmart International said we’re pleased to help create more opportunities for smallholder farmers in India through Walmart’s strengthened commitment to local sourcing and the Walmart Foundation’s USD 25 million investment to support local farmer producer organisations. The new funds will be used to support farmer organisations to develop knowledge of sustainable farming practices, share business best practices, add value to primary agricultural commodities and improve access to finance and markets.