India's ambassador to the United States, Taranjit Singh Sandhu, attended a landmark event this Tuesday, symbolizing a significant stride in Indian manufacturing prowess. The occasion marked the launch of the first made-in-India bicycles at a Walmart store in America, a moment of immense pride and achievement for India.

Ambassador Sandhu, taking to a social media platform referred to as 'X', shared his excitement and national pride. His words, “Make in India, Make for the World! Delighted to witness the launch of Walmart in the US first made-in-India bicycles, manufactured by #HeroCycles #Ludhiana,” resonate with the spirit of India's growing global presence in manufacturing. This milestone is not just a testament to the quality of Indian manufacturing but also a reflection of India's ability to meet international standards and consumer demands.

This development is perfectly timed for the festive season, with Walmart announcing that these India-made bicycles will be available in select stores across the U.S. just in time for the holidays. Hero Ecotech Ltd., a leading name in India’s bicycle manufacturing and export sector, is behind this impressive feat. They have crafted a “cruiser-style” bike that will be sold under the Concord brand in Walmart. These bicycles, available in both men’s and women’s versions, are set to enrich Walmart's diverse bicycle offerings, showcasing Indian craftsmanship on a global scale.

Hero Ecotech Ltd. stands as a shining example among many Indian manufacturers who are increasingly forging significant supplier relationships with international giants like Walmart. This relationship is not only a milestone for Hero Ecotech Ltd. but also for the larger Indian manufacturing sector, highlighting its growing capabilities and global competitiveness.

The collaboration aligns with Walmart’s ambitious goal to triple its exports of goods from India, aiming to reach a staggering USD 10 billion annually by 2027. This objective, now intertwined with the prowess of Indian manufacturers like Hero Ecotech Ltd., showcases a future where Indian products stand tall on global retail shelves, bringing pride and recognition to the nation's manufacturing sector.

In a recent press release, Hero Ecotech Ltd. has proudly showcased India's esteemed status as a leading bicycle manufacturer. This illustrious history is exemplified in their latest venture, where cruiser bicycles are being sold in Walmart U.S. stores. Remarkably, these bicycles are composed of over 90% raw materials sourced directly from India, underscoring the nation's capacity in producing high-quality, competitive products for the global market. Hero Ecotech Ltd. stands tall as one of India's premier manufacturers of mobility products and boasts the title of being the largest exporter of bicycles from India, reaching over 80 countries worldwide. This feat is a clear demonstration of India's capabilities in the global manufacturing landscape, highlighting the quality and appeal of Indian-made products on the international stage.

Walmart's engagement with the Indian market is not a recent development. The retail giant has a longstanding history of exporting a diverse range of products from India. This enduring relationship is a testament to the trust and value placed in Indian manufacturing, reflecting the country's growing influence and reliability in the global market.

Further cementing this relationship, Walmart has actively contributed to India's 'Make in India' initiative, which aims to position India as a global manufacturing hub. A significant part of this contribution is the Walmart Vriddhi program. Launched in 2019, this comprehensive growth and training program is designed to empower 50,000 Micro, Small, and Medium Enterprises (MSMEs) in India. The initiative focuses on enabling these MSMEs to participate effectively in domestic and global supply chains. By assisting in their modernization and scaling efforts, Walmart Vriddhi aims to help these enterprises realize their domestic and international ambitions. This program is a remarkable step towards boosting the capabilities of Indian MSMEs, ensuring they have the tools and knowledge to thrive in a competitive global environment.

Walmart Sourcing Forges Strategic Partnership with Hero Ecotech Ltd. to Boost Resiliency in Bicycle Supply Chain in Time for the Holidays

Bentonville, Ark., United States & Ludhiana, Punjab, India: In a strategic move to bolster its bicycle supply chain, Walmart has proudly announced the introduction of the first India-made bicycles in select stores across the United States, just in time for the festive holiday season. This development is a significant step in strengthening Walmart's global supply chain, particularly in the bicycle category, where demand has seen a notable rise.

Hero Ecotech Ltd., renowned as one of India's leading manufacturers and exporters of bicycles, has been instrumental in this venture. They have skillfully designed a “cruiser-style” bike for Walmart, branded under the Concord name. These bicycles, available in both adult-sized men’s and women’s versions, are a fresh addition to Walmart's expanding bicycle range. This collaboration exemplifies Walmart's commitment to diversifying its product offerings while ensuring quality and reliability, hallmarks of Hero Ecotech Ltd.'s manufacturing prowess.

The partnership with Hero Ecotech Ltd. is part of a larger, ambitious strategy by Walmart. The company is actively building supplier relationships with numerous Indian manufacturers. These collaborations are crucial in helping Walmart accelerate towards its goal of tripling the exports of goods from India, aiming to reach a remarkable $10 billion annually by 2027. This target reflects Walmart's confidence in the quality and capability of Indian manufacturing and its commitment to incorporating these products into its global supply chain.

Further solidifying its commitment to Indian suppliers, Walmart recently announced the Walmart Growth Summit. This exclusive, invitation-only event is a significant opportunity for export-ready suppliers, micro-, small- and medium-sized enterprises (MSMEs), cross-border trade suppliers, and innovative companies. Scheduled to be held on February 13-15, 2024, in New Delhi, the summit will offer these entities a unique platform to pitch their businesses. The event is set to be a milestone in Walmart's ongoing efforts to identify and collaborate with diverse and capable suppliers, particularly from the rapidly growing Indian market.

Walmart's Executive Vice President of Sourcing, Andrea Albright, emphasized the company's commitment to delivering top-quality products at accessible price points for customers. "Our goal at Walmart is to provide high-quality products at price points that all customers can access. Our collaboration with Hero Ecotech supports that goal and demonstrates manufacturing growth and capability in India overall," Albright stated. This collaboration with Hero Ecotech Ltd. is a pivotal move for Walmart, showcasing the company's dedication to integrating high-quality manufacturing from around the world into its supply chain.

Albright further highlighted the strategic importance of this partnership, "India is well-positioned to support increased demand for products by Walmart customers, and we are excited about our partnership with Hero Ecotech. This collaboration furthers our work to strengthen resiliency in our global supply while contributing to economic growth worldwide.” Her statement reflects Walmart's recognition of India's potential as a key supplier in the global market, especially given its rich manufacturing history and growing capabilities.

In line with this, Hero Ecotech Ltd. stands as a sterling example of India's manufacturing excellence. The company, known for its expertise in creating bicycles, has designed cruiser bikes that are now sold in Walmart U.S. stores. These cruisers are notable for their high-quality build, with more than 90 percent of their raw materials sourced from India. This not only underscores the prowess of Indian manufacturing but also aligns with Walmart's commitment to sourcing products that meet its high standards for quality and affordability.

Hero Ecotech Ltd.'s distinction as one of the premier manufacturers of mobility products in India, and as the largest exporter of bicycles from the country, shipping to over 80 countries, further reinforces the strategic significance of this partnership for Walmart. This collaboration represents Walmart's ongoing efforts to diversify its product offerings and to ensure a robust and resilient global supply chain.

In a statement filled with anticipation and pride, Vijay Munjal, the Chairman of Hero Ecotech Ltd., expressed his enthusiasm about the company's collaboration with Walmart. "At Hero Ecotech Ltd., we are excited about our collaboration with Walmart to bring our products to Walmart customers this year," said Munjal. This partnership marks a significant milestone for the company, as it is among the first Indian-built products to be featured in the bicycle category at Walmart. Munjal highlighted the quality of the Concord cruisers, attributing it to the diligent work of Hero Ecotech's employees and the company's overall commitment to excellence. He also took this opportunity to encourage other manufacturers in India to consider working with Walmart, extending an invitation to directly engage with the retail giant at the Walmart Growth Summit in February. This summit represents a unique platform for Indian manufacturers to explore growth opportunities and expand their global reach.

Walmart's dedication to the Indian market is not a recent endeavor. The company has a history of exporting products from India across various categories. This ongoing commitment is further exemplified by Walmart's active participation in the 'Make in India' initiative. Aiming to empower 50,000 Micro, Small, and Medium Enterprises (MSMEs), Walmart has launched Walmart Vriddhi, a comprehensive growth and training program initiated in 2019. This program is designed to help MSMEs modernize, scale up, and achieve their domestic and international aspirations. By supporting these enterprises, Walmart is not only contributing to the growth of the Indian economy but is also strengthening its own global supply chain through diverse and quality products.

About Walmart: Walmart Inc. (NYSE: WMT), a people-led, tech-powered omnichannel retailer, is committed to helping people save money and live better lives, accessible anytime and anywhere - in stores, online, or via mobile devices. Serving approximately 240 million customers and members each week, Walmart operates more than 10,500 stores and various eCommerce websites across 20 countries. With a staggering fiscal year 2023 revenue of $611 billion, the company employs around 2.1 million associates globally. Walmart continues to be a forerunner in sustainability, corporate philanthropy, and employment opportunities, cementing its position as a leader in the retail industry and a key player in global economic growth.