Tesco has overtaken German retail giant Metro to be ranked the world’s fourth-biggest retailer in Deloitte’s annual Global Powers of Retail survey.

The jump marks the first change in the top 10 since 2003 and is the latest indicator of the remarkable growth of Tesco, which was ranked 18th in the list just 12 years ago.

Wal-Mart continues to dominate the list, with sales of more than three times its nearest rival Carrefour.

The other significant change in this year’s list is the debut of six Chinese and Russian retailers in the global top 250. China’s Bailian Group is ranked 101, while Russian grocery giant X5 comes in at 191.

Deloitte consumer business director Ira Kalish said that the entry of retailers from these countries reflects the consolidation going on in those retail markets. He said: “I’m surprised we don’t have an Indian retailer yet, but that will change. Retailers like Reliance and Bharti have the potential to make the top 100.”