UAE-based retailer Lulu Group aims to boost its Indian agricultural procurements to Rs 15,000 crore over the next two years as it expands its global presence.
Chairman and Managing Director M A Yusuff Ali shared with reporters that the company plans to place a special emphasis on organic product procurement, projecting the value of these goods to reach Rs 2,000 crore annually.
“We currently import agricultural products worth approximately Rs 10,000 crore each year. We aim to increase this to ₹15,000 crore within two years, driven by our expansion into new markets,” he said.
The imports mainly consist of commodities such as fruits, vegetables, rice, tea, sugar, spices, and millets, which are distributed to Gulf Cooperation Council (GCC) countries and other regions in the Far East.
Ali mentioned that the group has partnered with the Agricultural and Processed Food Products Export Development Authority, a government body, to enhance its share of organic product procurements. The company plans to initially import up to Rs 2,000 crore worth of organic produce from India and increase this to Rs 4,000 crore in the following year.
The UAE-based group is also looking to collaborate with farmer producer groups in smaller villages.
As per news report by PTI, additionally, the company is investing Rs 500 crore in establishing a logistics hub, including cold storage facilities, in Noida, with plans to commission it within the next two to three months. A food processing plant in Kashmir is also nearing completion and is expected to be inaugurated in the next two to three months.
