One of the world’s fastest-growing retail chains, the LuLu Group prides itself as a UAE-born global business house with roots in the strong Indian dynamism and innovation of its Chairman and Managing Director, Yusuffali MA. The group has aligned its growth plans closely with the emergence of India as an economic super power and recent exciting developments show that the Group has moved to leverage its knowledge of the Indian market and widen the scope of its business in the country.
“We remain very upbeat about the current business scenario and the pro-development vision of the Indian government led by the dynamism of Narendra Modi, Prime Minister of India, which has come through severe challenges with flying colours,” said Yusuffali. “Over a period of the past six months, we have shown this confidence with the opening of mega projects, such as LuLu Mall in Thiruvananthapuram and Global Mall in Bengaluru. Furthermore, in April 2022, we shall be opening the Lucknow LuLu Mall, which will be a landmark shopping and leisure destination in Uttar Pradesh.”
LuLu Group has stepped up its investment in India’s booming food processing and logistics industry with a state-of-the-art 100 per cent export-oriented food and agri-produce processing park in Greater Noida. This nearly Dh250 million — Rs500 crore — investment will be a great support to the agriculture sector of Uttar Pradesh, as LuLu Group will be procuring and exporting approximately 500 tonnes of local fruits and vegetables to their more than 220 hypermarkets around the world. Additionally, the Group is expected to start its operations in eight months with a turnover of Rs. 3,000 crore —Dh1.5 billion. Land allotment order for the proposed food park was handed over to Yusuffali MA by Narendra Bhoosan, CEO of Greater Noida Industrial Development Authority, in the presence of Chief Minister Yogi Adityanath and other top officials recently.
In Gujarat, LuLu Group will invest about Rs. 2,000 crore (Dh1 billion) to set up a modern shopping mall at Ahmedabad. The announcement came after Bhupendra Patel, Gujarat Chief Minister, met Yusuffali MA in Dubai. An MoU signed in the presence of the Chief Minister suggests that LuLu Group will create a shopping mall between Ahmedabad and Gandhinagar. The construction is likely to begin in the first quarter of 2022. The project is expected to be completed within 30 months.
The group has also embraced PM Modi’s call to invest and rejuvenate the economy of Jammu and Kashmir and signed MoU to invest up to Rs200 crore (Dh100 million) in the state’s food processing industry and retail sector. In addition, the LuLu Hypermarket has built a global retail platform for Kashmiri produce, importing Kashmiri apples and GI-tagged Kashmiri saffron.
LuLu’s investment announcement in Kashmir was made during the official visit of Manoj Sinha, Lt. Governor of the Union Territory of Jammu and Kashmir to the UAE. The MOU was signed by Ranjan Prakash Thakur, Principal Secretary, Industries and Commerce, Government of Jammu Kashmir and Ashraf Ali MA, Executive Director of LuLu Group in the presence of Dr. Thani bin Ahmed Al Zeyoudi, the UAE Minister for Foreign Trade, Dr. Ahamed Al Banna, the UAE Ambassador to India, Dr. Aman Puri, Consul General of India in Dubai and other top officials
“I see this UAE-led expansion into Indian markets as an opportunity for both nations to cement their close ties and contribute to each other’s growth,” Yusuffali said, “If anything, the pandemic has taught us that nations have to be increasingly co-dependent and align their regional aspirations to match the dreams of a young population. I believe strongly that the LuLu Group can be a key player in this vision of the future for India.”
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