Expanding in India
India Prime Minister Narendra Modi being briefed about LuLu Group's new investment plans in India by Chairman Yusuff Ali MA at a meeting held at Prime Minister's Office in New Delhi last month.
LuLu Group is investing around Dh550 million and Dh2.5 billion in Uttar Pradesh and Kerala respectively - setting up shopping malls, five-star hotels and IT parks
Prominent NRI businessman and one of the major investors in India, Yusuff Ali MA, sees tremendous push from the UAE investors into India.
Reacting on the latest easing of FDI norms by Narendra Modi government, Yusuff Ali MA predicts an investment to the tune of US$150 billion will flow into retail, aviation, tourism and manufacturing sectors from the Gulf countries.
The recent top-level visits by the leaders of both nations coupled with the announcement of new initiatives have made India the most talked about FDI destination for the investors in the Gulf region, which would broaden its non-oil investments and revenue streams.
Yusuff Ali MA is the Chairman of LuLu Group that has $7.4 billion annual turnover (and the only Indian to be elected to the Director Board of Abu Dhabi Chamber of Commerce) and has major investments in retail, hospitality and food processing sectors in India.
He also revealed his future investment plans in Gujarat, Uttar Pradesh, Kerala, and Telangana.
While the Group is investing around Dh550 million and Dh2.5 billion in Uttar Pradesh and Kerala respectively - setting up shopping malls, five-star hotels, convention centre, and IT parks -another Dh1.46 billion will be spent in Telangana to set up a state-of-the-art food processing unit, an integrated food processing plant and a modern shopping mall in Hyderabad.
Once completed, all these projects will generate an employment opportunity for more than 40,000 people.
Apart from India, Lulu Group has ambitious plans for Far East markets, where it recently opened hypermarkets in Malaysia and Indonesia and plans to invest around Dh2.2 billion in next five years.
Closer home, in the GCC region, the Group enjoys around 32% market share of the organised retail sector with 142 stores. LuLu plans to add another 23 new hypermarkets by the end of 2019 including in UAE, Saudi Arabia, Oman and Kuwait.
LuLu Hypermarket, where the world comes to shop
Where the world comes to shop, is the top retailer in the Middle East and one of the most successful businesses worldwide. Serving more than 1.6 million shopping patrons every day, it is the fastest growing retail chain across 10 countries that include the GCC, India, Egypt, Indonesia, and Malaysia. Founded in the early nineties, it has successfully expanded to different parts of the world and currently operates more than 175 stores with a staff force of 50,000.
- Providing more than 1.6 million customers an unparalleled shopping experience daily across the globe
- No. 1 retail chain in the Middle East and among the top 10 fastest growing retailers globally
- Operations in UAE, India, Saudi Arabia, Bahrain, Kuwait, Oman, Egypt, Malaysia, and Indonesia
- One of the Middle East's top employers with work force numbering to 50,000