Lulu Group, a leading retail conglomerate based in Abu Dhabi, UAE, aims to increase its food imports from India to Rs 15,000 crore in the next two years, up from the current Rs 10,000 crore, a senior company official said.
The move is part of the company’s strategy to strengthen its presence in the Gulf Cooperation Council, Middle East and Egypt.
The company imports a wide range of food products from India, including fruits, tea, spices, rice, sugar, and millets, Yusuff Ali, chairman of Lulu Group, told the media at the India UAE Business Forum. “To further boost imports, Lulu Group has signed a Memorandum of Understanding with the Agricultural and Processed Food Products Export Development Authority to source organic products from India,” Ali said.
To support imports, Lulu Group is investing Rs 500 crore in setting up a logistics hub in Noida, which will be equipped with storage and chillers, Ali said. The hub is expected to be operational within three months. Another logistics hub is also planned in Kashmir, Ali said.
The move is expected to benefit Indian farmers and food processors, who will gain access to new markets in the GCC and ME regions.
Lulu Group’s expansion plans are also in line with the Indian government’s efforts to boost agricultural exports. The government has set a target of achieving $60 billion in agricultural exports by 2027.
With its strong presence in the GCC and ME regions, Lulu Group is well-positioned to tap into the growing demand for Indian food products. The company’s logistics hubs will play a critical role in ensuring the smooth and efficient transportation of goods.