Metro plans 50 Indian stores

German retailer Metro plans to add 34 new stores in India by 2020 taking its network to 50.

“We have seen continuous like-for-like growth recently in India. Now we have decided to inject extra momentum into our expansion course there,” Metro CEO Olaf Koch said.

Metro says it wants to make India as big as its leading markets of China, Russia and Turkey.

The retailer entered India in 2003, operating cash-and-carry business, serving traders, hotels, restaurants and small businesses.

Its American rival Walmart plans to open 50 cash and carry stores in the next four to five years while French retailer Carrefour is mulling exiting India by selling or shutting down its stores, dismayed by the government’s lack of clarity over FDI rules.

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