In a major development, the Indian arm of German wholesaler METRO Cash and Carry (C&C) has signed a memorandum of understanding (MoU) with the Punjab government. As part of the plan, METRO C&C India will open six wholesale centers in next two to three years in Punjab with a proposed investment of Rs 9 billion.
Frits van Peski, member of the executive board of directors, METRO C&C India, said, “Punjab is a progressive state with a large number of entrepreneurs including small kirana stores, hotels, restaurants and other traders, and offers a big potential for our self-service wholesale business. I am confident that our unique model will catalyse the progressive attitude of Punjab by providing a one stop solution for wholesale purchase, improvements in assortments and high quality products to our professional customers.”
Currently, the company is operational in 29 countries with over 615 self-service wholesale centers worldwide.
— IndiaRetailing Bureau