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German retailer Metro to step up expansion in India

German retailer Metro AG wants to step up expansion in India and is planning to have 50 wholesale stores in the country by 2020, up from 16 now, as part of a broader strategy for growth in emerging markets.

Europe’s fourth-biggest retailer said in a statement last week that it wanted India to become one of its "focus expansion countries", alongside Russia, China and Turkey.

Metro, a sprawling retail empire which owns Europe’s top consumer electronics chain, department stores and hypermarkets, is restructuring and looking to grow in emerging markets to make up for shrinking sales in western Europe. Emerging markets currently make up nearly one third of sales.

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