Walmart Vriddhi announces MoU with Dun & Bradstreet to accelerate growth opportunities for MSMEs in India
The MoU aims to strengthen the existing Walmart Vriddhi program by providing data insights and technical assistance to MSMEs across India
NEW DELHI, April 02, 2024: Dun & Bradstreet, a global leader of business data and analytics, and Swasti, the program partner of the Walmart Vriddhi Supplier Development Program (Walmart Vriddhi), announced a Memorandum of Understanding (MoU) to strengthen support for micro-, small- and medium-size enterprises (MSMEs) across India.
The Walmart Vriddhi program provides free training, mentoring and digital tools to help small businesses grow, scale, and integrate into domestic supply chains. Dun & Bradstreet enables companies around the world to improve their business performance.
The MoU aims to expand business support services for participating MSMEs. Dun & Bradstreet will provide D-U-N-S® Numbers to all MSMEs registered for the program. A D-U-N-S® Number is assigned through Dun & Bradstreet’s patented identity resolution process, (part of its DUNSRight™ data governance, which includes thousands of separate automated checks). The D-U-N-S Number is used as the starting point for any company’s Live Business Identity, which helps ensure the most accurate and up-to-date view of organizations, and enhances the credibility of MSMEs that seek partners or capital in the course of their business.
A company’s D-U-N-S Number may be referenced when:
- Applying for a loan with a financial institution
- Applying for credit with a business partner
- Applying to become a vendor or supplier of a company
- Bidding on contracts locally or internationally
Dun & Bradstreet will also provide two learning modules on Government schemes for MSMEs and ESG, which will help simplify the complex information that MSMEs seek, to identify the right programs and opportunities to help them scale.
Jason Fremstad, Senior Vice President, Supplier Development, Walmart said, “Through this partnership, we are channeling the expertise and resources of both Dun & Bradstreet and Swasti to further a holistic ecosystem for MSMEs to excel in the eCommerce landscape. This will help small businesses unlock more growth opportunities. We hope to see these businesses thrive in the digital economy and scale to new heights.”
Joseph Julian, Senior Director, Swasti, expressed optimism about the collaboration, stating, ‘Since its inception, Walmart Vriddhi has been engaged with MSMEs to support their learning and market connectivity, which has contributed to their business growth, particularly on eCommerce platforms. We are glad that this MoU with Dun and Bradstreet will empower MSMEs associated with the Walmart Vriddhi program to further gain and grow in their businesses.'”
Preeta Misra, Senior Director, Credibility & Business Insights Group (CBIG), ESG and SME, Dun & Bradstreet, emphasized the significance of the partnership in supporting MSMEs. “We are delighted to deepen our partnership with Swasti through the Walmart Vriddhi program. By providing D-U-N-S® Numbers freely, we hope to enhance the visibility of participating businesses, enabling them to access opportunities. Additionally, by contributing content for the learning module, we’re investing in skilling initiatives, empowering MSMEs with the knowledge and tools they need to thrive.”
About Walmart
Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better – anytime and anywhere – in stores, online, and through their mobile devices. Each week, approximately 255 million customers and members visit more than 10,500 stores and numerous eCommerce websites in 19 countries. With fiscal year 2024 revenue of $648 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart, on X (formerly known as Twitter) at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.
About Dun & Bradstreet
Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit www.dnb.com.
Dun & Bradstreet Information Services India Private Limited is headquartered in Mumbai and provides clients with data-driven products and technology-driven platforms to help them make faster and more accurate decisions in domains of finance, risk, compliance, information technology, and marketing. Working towards the Government of India’s vision of creating an Atmanirbhar Bharat (Self-Reliant India) by supporting the Make in India initiative, Dun & Bradstreet India has a special focus on helping entrepreneurs enhance their visibility, increase their credibility, expand access to global markets, and identify potential customers & suppliers, while managing risk and opportunity.
India is also the home to Dun & Bradstreet Technology & Corporate Services LLP, which is the Global Capabilities Center (GCC) of Dun & Bradstreet supporting global technology delivery using cutting-edge technology. Located in Hyderabad, the GCC has a highly skilled workforce of over 500 employees and focuses on enhanced productivity, economies of scale, consistent delivery processes, and lower operating expenses.
Visit www.dnb.co.in for more information. Click here for all Dun & Bradstreet India press releases.
About Swasti
Swasti, a part of the Catalyst Group, is headquartered in Bengaluru, India, and active globally with a footprint in 30 countries, was founded in 2004. Swasti co-designs demonstrable and scalable solution models in partnership with communities on the ground and influences policies nationally and internationally. Over the past 15 years, Swasti has directly reached over 400,000 people through its initiatives, including more than 238,000 factory workers, the majority of whom are women.