Metro Group subsidiary Metro Cash & Carry has told just-food it will continue to invest in its Indian business through new store openings.

The company currently has two stores in Bangalore and one in Hyderabad, which was completed in the past month.

Although Metro has not made a profit in India thus far, Metro Group spokesperson Jürgen Homeyer told just-food this was because rolling investments in new stores had to be taken into account.

He said: "We are continuously expanding our business in India. We are going to open more stores, all in the cash and carry format, which has also been a success in China, Japan and Vietnam.

"Metro sees India as an interesting market with great potential."

Local reports suggested that Metro is targeting 15-18 stores in major cities across the country over the next three years.

The German retail group has operated in the country since 2003, and will soon be joined by Wal-Mart after its collaboration with Sunil Mittal's Bharti Enterprises earlier this month.

While Metro has restricted itself to wholesale through the cash and carry format, Wal-Mart's tie up offers scope for front-end retail. However, Metro has ruled out forming this kind of venture in India.