Walmart CEO on India: Rare to See a Large Economy Grow So Rapidly

Walmart Global CEO and President Doug McMillon on Tuesday (June 24, 2025) reaffirmed the retail giant’s commitment to sourcing $10 billion annually from India. Praising India’s rapid economic growth, McMillon noted that it was rare to witness such momentum in a major global economy. He also highlighted the value of Walmart’s Indian investments, saying the company continues to learn significantly from its acquisitions of Flipkart and PhonePe.

Speaking at an event in New Delhi showcasing Walmart’s operations in India, CEO Doug McMillon said that while a single visit offers only a glimpse of India’s progress, his repeated trips have revealed a dynamic and expanding growth story, one that he described as “becoming much more interesting” with each visit.

“In the beginning, we started by sourcing products from India in just a few limited categories,” said McMillon. “But we were excited to get going. Since then, our sourcing business has grown significantly, and now we’ve set an ambitious target of reaching $10 billion annually. It’s a big number, and we’re working closely with the supplier community to make it happen.”

He further emphasized that Walmart views India as a long-term strategic market.

“We’ve been in India for many years, and that commitment will continue,” said Mr. McMillon. “We see strong growth here, a thriving spirit of entrepreneurship, and tremendous opportunity. Operating globally, it’s rare for us to witness a large economy growing this rapidly and creating such widespread potential.”

Reflecting on Walmart’s acquisitions of Flipkart and PhonePe, Mr. McMillon described their growth as “inspiring.”

“We’re learning a great deal from both companies,” he said. “Their ability to innovate, move quickly, expand their customer base, empower sellers, and build a thriving e-commerce marketplace points to a bright future, one filled with opportunities for everyone involved.”

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