LONDON/NEW YORK, Nov 29 (Reuters) – Walmart (WMT.N) is importing more goods to the United States from India and reducing its reliance upon China as it looks to cut costs and diversify its supply chain, data seen by Reuters shows.
The world’s largest retailer shipped one quarter of its U.S. imports from India between January and August this year, according to bill of lading figures shared with Reuters by data firm Import Yeti. That compared with just 2% in 2018.
Only 60% of its shipments came from China during the same period, down from 80% in 2018, the same data shows. 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.
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Source: https://www.reuters.com/business/retail-consumer/walmart-shifts-india-china-cheaper-imports-2023-11-29/
