Metro Cash & Carry plans eight new stores

While many global retail giants are still speculating over India

entry, Metro Cash and Carry India (part of Metro AG, Germany) is on expansion mode and is looking at opening wholesale stores in Tier I, II cities this year. Their next store is set to open in Jaipur in April. Metro AG, Germany’s largest retailer, will invest an additional Rs 560 crores this year to set up eight wholesale stores in India to take advantage of the growth in consumption in Asia’s third-largest economy. The company opened its 10th wholesale store in India in New Delhi recently, adding to those it operates in Bangalore, Hyderabad, Mumbai, Kolkata, Ludhiana and Jalandhar. It invested Rs 45 crores to set up the store in Delhi.

Metro opened its first wholesale store in India in 2003, where local law do not allow foreign retailers from opening retail stores but at the same time, it doesn’t restrict overseas retailers from opening wholesale stores, which are only allowed to sell to other retailers, restaurants and caterers among some other categories.

The government’s recent attempt to allow 51 per cent FDI in multi-brand retail would have let global retail giants enter the country to set up shops but the policy could not get a political consensus from the Opposition and ruling Congress party’s allies.