Global retailer Walmart's has issued a statement saying the company is aiming for 25 percent sourcing in fruits and vegetables from local farmers. Kathleen Mclaughlin, executive vice president, said in an interview with CNBC-TV18: "This market is incredibly important for us. We are trying to work through our business differently and also corporate social responsibility (CSR) & philanthropy. So, in terms of the business, we have been focused for quite some time on strengthening the suppliers that we source from."
Mclaughlin then added: "The 25 percent that we have committed to source locally within each trade area for cash and carry is for each store. So, the idea is source for the needs of the customers – the Kiranas, the restaurants, hotels in that immediate area from the immediate farmers so that we create a kind of a local market."
On CSR, Mclaughlin said, "That is really important and obviously a great incentive for companies to do that. We think companies should do both, CSR and investments through philanthropy, and consider the business as an opportunity to help society."
