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Wal-Mart to scale up [out]sourcing
From India's Business Standard:
Wal-Mart, the $56 billion global retail chain, plans to increase sourcing from India by 30 per cent. The company currently sources $1.2 billion worth of goods from India, mainly leather, apparels, textiles, home furnishing and jewellery. It is exploring the food sector and has set sights on commodity items, such as spices, rice, tea and sea foods, to increase its sourcing.
"The foods sector is an area which we have not yet tapped to its full potential from here and we will focus on this in the near future," he said. The $1.2 billion sourcing from India pales in comparison with the $18 billion worth of goods the multinational sources from China.
Posted by Brendan - May 11, 2005 02:42 PM - High Costs