Electronics retailer Emart is targeting turnover of 4,000 crore (£557m) in the next three to four years and will expand its store count by about 40% annually. Sunil Mehta, chief executive of Emart’s electronics business Next Retail, said that the chain expected to reach 1,000 stores by the end of fiscal 2011 and would achieve turnover of about 1,500 crore (£210m).

Next Retail operates 600 stores in 270 cities, of which 182 are company-owned and the remainder franchised. The retailer has set its sights on expansion into 350 Indian towns and cities and says it is looking at expanding into lifestyle consumer durables.