New Delhi: Lulu Group, a conglomerate located in the UAE, has already invested over Rs.20000 crore in India, and over the next three years, it plans to invest another Rs. 10000 crore in several existing projects, according to Lulu Chairman Yusuff Ali MA. Additionally, he stated his intention to hire 50000 people in India; as of now, his numerous businesses have created over 22000 jobs.
A Destination Shopping Mall (Rs 3000 crore) has been pledged by the Lulu Group to build in Telangana as well as other cities in the state over the next five years, according to Yusuff Ali. “We have invested over Rs 20,000 crore in different areas, including shopping malls, hotels, and food processing units (in India). We will increase this,” he said.
“We have started the construction of a shopping mall in Ahmedabad. And also another one in Chennai we are coming up. A food processing plant is coming up in Noida, and another in Telangana. It is Rs 10,000 crore investments in the next three years,” Yusuff Ali said when asked about the overall investments on the upcoming projects.
He added that since Prime Minister Narendra Modi had liberalised the laws governing NRI investments, all investments made by non-resident Indians are now considered domestic ones. According to him, In August, a five lakh square foot Lulu Mall that cost Rs 300 crore to build will be dedicated. Additionally, a cutting-edge Destination Mall (2.2 million square feet) and an export-focused modern integrated meat processing factory will be constructed.
