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The announcement was made by Lulu Group Chairman Yusuf Ali Ma in the presence of Manoj Sinha, Deputy Governor of the United Territory of Jammu and Kashmir in Dubai.
“In the first phase, we will invest Rs. 200cr, and then Rs. 200cr. It has been designated for further expansion. I believe these projects will not only provide considerable employment opportunities for local youth, but will also greatly benefit the agricultural sector. And farmers,” said Yusuffali MA of LuLu Group.
The company also plans to build a logistics center and a hypermarket in Srinagar to achieve uninterrupted supply. It expects to export products worth Rs. J&K earns $5 billion in revenue from stores in Gulf countries each year. It plans to geographically purchase saffron, basmati rice, apples, almonds, honey, dried mushrooms, honey, walnuts, dried apricots, sugared kava, vegetables mainly carrots, broccoli, cauliflower, white radishes, etc.
The production of saffron, apples, walnuts and almonds in Jammu and Kashmir ranks first in India.
Deputy Governor Manoj Sinha said: “LuLu Group has imported apples from Jammu and Kashmir. With saffron, we add Kashmir’s best spices to the basket. I am sure that this new start will bring our trade to an unprecedented level.”
Lulu Group’s investment in Kashmir was carried out in the context of a meeting between the chairman of the company and the prime minister. Narendra ModiLast year, LULU Group agreed to establish a 100% export-oriented food and agricultural products processing park in Greater Noida, with a total investment of 500 rupees.
Lulu Group currently has 220 hypermarkets and shopping malls in the Middle East, Egypt, India, Malaysia and Indonesia, and more than 57,000 employees worldwide.
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