Walmart Vriddhi announces MoU with Dun & Bradstreet to accelerate growth opportunities for MSMEs in India
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, Program 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.”
