Undeterred by the ongoing protests against foreign entrants in retail, the German cash-and-carry major Metro plans to expand its operations in India. The company is looking at pan-India presence and plans to increase sourcing from the country.
According to Alan Clayton, operations director, Metro Cash & Carry India, only people who have a vested interest in high prices, are protesting. The company will not alter its expansion plans. Currently, it sources 95 per cent of products from India, and will increase this in coming years.
Metro Cash & Carry India will start its Mumbai operations soon, followed by new openings in other states including West Bengal and Punjab. The idea is to open several stores every year in areas that have a population of more than five million.
At present, Metro operates through two stores in Bengaluru and one in Hyderabad.
Commenting on the imminent competition from majors like Wal-Mart and Carrefour, who will enter the cash-and-carry business in the country, Clayton said: ”We are getting the first-mover advantage as there are no competitors in the country at present, and we have already established ourselves here.”
Metro stores, on an average, are spread across 300,000-400,000 square feet. In the last four years, the company has invested around 95 million euros in India.
– Bengaluru Bureau