 "Lulu Group plans to boost Indian agricultural imports to Rs 15,000 crore, emphasizing organic produce as expansion accelerates globally.")
Lulu Group, based in the UAE, is aiming to boost its Indian agricultural procurements to Rs 15,000 crore within the next two years as part of its global expansion. Chairman M A Yusuff Ali announced a special focus on organic products, targeting an initial value of Rs 2,000 crore, which could rise to Rs 4,000 crore in the following year. The group’s yearly imports, primarily including fruits, vegetables, and spices, currently reach Rs 10,000 crore and are set to increase. Lulu Group is partnering with farmer groups in smaller villages and has plans for significant investments in logistics and food processing facilities in India, including a new mall in Nagpur.
UAE’s Lulu Group Expands Indian Agri Procurement Plans
The Lulu Group, a leading retailer based in the UAE, is set to boost its agricultural procurement in India. The company aims to increase its agricultural imports to a staggering Rs 15,000 crore (approximately $2 billion) within the next two years. This ambitious goal was announced by M A Yusuff Ali, the Chairman and Managing Director of Lulu Group, in a recent press briefing.
Lulu Group is not just focusing on quantity; it is also placing a strong emphasis on organic products. The company plans to import Rs 2,000 crore worth of organic goods in its first year, with aspirations to double that figure to Rs 4,000 crore in the subsequent year. Importing a variety of commodities—including fruits, vegetables, rice, tea, sugar, spices, and millets—the produce will mainly cater to markets in the Gulf Cooperation Council (GCC) countries and parts of Asia.
To facilitate its growth, Lulu Group has partnered with the Agricultural and Processed Food Products Export Development Authority of India, showcasing their commitment to supporting farmer producers, especially those in smaller villages. Further investments include a Rs 500 crore logistic hub with cold storage facilities in Noida, expected to be operational in the coming months, alongside a nearly completed food processing plant in Kashmir.
As Lulu Group expands its footprint across India, there are plans for new shopping malls in various cities, including Nagpur, with recent inaugurations in places like Coimbatore and Ahmedabad.
This strategic expansion not only aims to enhance the availability of quality Indian agricultural products but also supports local farmers and contributes to India’s economy.
For more updates on retail and agricultural trends, keep following our blog.
-
What is Lulu Group planning to do with agri sourcing in India?
Lulu Group wants to increase its agricultural sourcing from India to 15,000 crore rupees in the next two years. -
Why is Lulu Group focusing on India for agricultural products?
India has a rich variety of agricultural products, and Lulu Group sees great potential in sourcing high-quality items from Indian farmers and suppliers. -
How will this plan help farmers in India?
This plan will create more business opportunities for Indian farmers, help them get better prices for their products, and improve their livelihoods. -
What types of agricultural products will Lulu source from India?
Lulu Group aims to source a wide range of products, including fresh fruits, vegetables, grains, and spices, among others. - When can we expect to see the impact of this sourcing plan?
The impact of this plan is expected to unfold over the next two years as Lulu Group expands its operations and partnerships with Indian farmers and suppliers.
