One of the benefits of letting giant foreign retailers to operate in India was under the expectations of them sourcing more from India for their global operations. The strategy has seen the light of the day with German wholesale retailer METRO deciding to hike and scale up its sourcing from India.
Metro Group Buying a group company of Metro is set to source Food, Basmati rice and Dairy products from India to be sold in Europe and other Asian countries. Mr. Martin.D, MD of India said,
The opportunities in the export of food category is immense as India has the advantage of producing organically grown food products and has vast agricultural diversity. We plan to source food products like nuts, spices, fruits & vegetables, basmati rice and diary products. Suppliers have to give us the volume we need for exports. Once suppliers become comfortable with the METRO way of doing business we will find opportunities for them to supply into the entire METRO sales network which operates in 31 countries.
METRO is all set to expand in Punjab next year. So far the company is growing very slowly in India.