Kolkata, Jun 24 (IANS): The Future Group's lifestyle and fashion retail outlet Central is looking at a 40 per cent business growth this year to take its revenue to Rs 3,500 crore, a top company official said here on Saturday.

"This year, we target a revenue of Rs 3,500 crore for Central. We are looking at 40 per cent growth over last year," the group's CEO Kishore Biyani said here.

He said the group's fashion business will be close to Rs 12,000 crore this year.

Central will be investing Rs 300 crore for expanding its reach across cities, he said.

The group is also looking to open 15 stores in the current fiscal year so that the total stores will be 50 by the end of this year, Biyani said at the launch of a Central store here which houses Biswa Bangla products.

At present, there are 35 stores in different cities across India.

Speaking on the Goods and Services tax (GST), he said the prices of certain products would reduce.