Tesco is planning to generate more than half of its annual revenue from overseas markets within the next decade, a doubling of the proportion from the 27 per cent it currently achieves.

Sir Terry Leahy, chief executive, told The Times in an interview that this month’s expansion into the United States was just part of a “pretty ambitious” worldwide growth programme.

He said that Britain’s biggest supermarket group was also considering a move into India and he refused to rule out possible expansion in Russia. “We keep looking at everywhere,” he said.

It marks the first time that Tesco has spelt out the aims for its international operation in financial terms rather than referring to sales space and store numbers. The retailer now has limited growth options in the UK, amid intense regulatory and political scrutiny about its dominance.

Sir Terry said that a “crossover”, where international sales would overtake those generated at home, would take place “within the decade”, according to the retailer’s own internal projections.

“It does break through on some pretty ambitious internal targets. The US is an important part, but it’s by no means the majority. The crossover is not right at the back end of the decade, but neither is it in five years’ time,” the chief executive said.

Sir Terry, 51, who has run the company since 1997, also said that he hoped to remain as chief executive for the foreseeable future, despite speculation that the group’s move into the US could herald the start of succession planning at the top.

He said: “We are on the threshold of becoming one of the few successful international retailers. There’s plenty to do.” At present three quarters of Tesco’s £50 billion of annual sales comes from its stores in Britain. Tesco has opened 13 stores under the “Fresh & Easy” banner in the US since the first one began trading at the start of November, as it tries to become one of the few British busineses to make a success of expansion into America.

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