The Hindu Business Line : Metro Cash & Carry to source food products from Punjab

Metro Cash & Carry already sources various other goods worth 48 million euros (around Rs 280 crore) from different centres in India for its international operations.

Bangalore , July 6

METRO Cash & Carry International has signed a memorandum of understanding with the Government-owned Punjab Agro Industries Corporation for sourcing of food products for its international operations.

The MoU was signed by Mr Thomas Hübner, Chief Executive Officer of the Germany-based Metro Cash & Carry International GmbH and Mr Himmat Singh, Managing Director, Punjab Agro Industries Corporation, for identification and sourcing of food products for its two outlets in Bangalore, and for its international operations.

Metro Cash & Carry already sources various other goods worth 48 million euros (around Rs 280 crore) from different centres in India for its international operations.

The actual purchase of food products from Punjab would take off after quality assurance and standards meeting the European markets were assessed, said a company spokesman.

Mr Hubner also discussed the possibility of setting up Metro Cash & Carry distribution centres in Punjab with the Chief Minister, Capt AmarinderSingh, who expressed his keenness to have the modern supply chain model in the State.

Metro Cash & Carry started its Indian operations in Bangalore in October 2003, and employs 750 people in the two distribution centres.

Mr Hübner said: "India has tremendous potential to become the food factory of the world. But, farmers are hindered by inefficiencies in the supply chain and lack of access to end markets. Metro Cash & Carry will bring in the required efficiencies in the supply chain for distribution of food within the country and also provide access to world markets. We see this as a wonderful opportunity."

The Chief Minister said: "Metro Cash & Carry will be able to provide the forward linkages to markets that the Punjabi farmer needs to become more competitive and profitable."

Metro Cash & Carry operates 476 "business to business" self service wholesale distribution centres in 26 countries and has product assortments catering to specific needs of business customers, particularly to hotels, restaurants, traders, small food retailers and other businesses.

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