| 24 July 2024, Wednesday |

Walmart shifts to India, cuts China imports

In an effort to save costs and diversify its supply chain, Walmart (WMT.N) is importing more goods into the United States from India and lessening its reliance on China, according to data obtained by Reuters.

Between January and August of this year, the largest retailer in the world transported 25% of its imports into the United States from India, according to bill of lading data that data firm Import Yeti shared with Reuters. In contrast, that was only 2% in 2018.

The data shows that only 60% of its shipments came from China during the same period, down from 80% in 2018. To be sure, China is still Walmart’s biggest country for importing goods.

The shift illustrates how the rising cost of importing from China and escalating political tensions between Washington and Beijing are encouraging large U.S. companies to import more from countries including India, Thailand and Vietnam.

In the U.S., shoppers face higher interest rates and high food prices, eroding household savings and prompting Walmart and other retailers to become cautious in their outlook for consumer spending.

“We want the best prices,” Andrea Albright, Walmart’s executive vice president of sourcing said in an interview. “

  • Reuters