French retailer Carrefour is eyeing off a greater share of India’s cash and carry business.

Carrefour plans to open stores in Pune and Bangalore next year. More stores will open in Agra and Meerut stores later this year.

“Carrefour is gearing itself up for opening up of the multi-brand retail sector. Also, with the economic crisis in Euro zone deepening, Asia would make most profitable business for the company both for retailing and sourcing,” sources said of carrefour’s strategy.

Another source close to the development said: “Carrefour has been cautious in its expansion. But the entry of Metro and Walmart in northern India has expanded the retail canvas and Carrefour’s management would like to take the competition by the horns. Also, there is direction from the global parent to speed up its expansion. Other players in the cash-and-carry business too are eyeing the market in India.”

Carrefour, who has around 600 vendors in India, also aims to boost its sourcing and vendor base in India. Products such as garments and fresh vegetables worth US$200 million are sourced and exported from Indian market.

At present, there are only two operational Carrefour cash and carry stores in India – in Delhi and Jaipur. Its rivals Walmart has 17 while Metro has 10. Carrefour, with €90 billion (US$112.71 billion) revenues, has 9631 stores around the world as at June 2011.

GB