Lulu Group's Ambitious Plans to Elevate Agri Sourcing

Lulu Group's Strategic Growth in Agriculture Sector

The UAE-headquartered retailer Lulu Group is looking to increase the quantum of Indian agri procurements to Rs 15,000 crore in the next two years as it expands its network globally, a top company official said on Tuesday.

Focus on Organic Good Procurement

Its Chairman and Managing Director M A Yusuff Ali announced that the company plans to have a special focus on organic good procurement and sees the value of such goods rising up to Rs 2,000 crore annually. He stated, "About Rs 10,000 crore worth of imports (of agri products) are done every year. We intend to increase it to Rs 15,000 crore within two years as we expand our footprint in numerous countries." The imports primarily include commodities such as fruits, vegetables, rice, tea, sugar, spice, and millets, serving the Gulf Cooperation Council (GCC) countries and other far-east countries.

Collaborations and Investments in Logistics

• Ties with Indian Government: Ali mentioned that his group has collaborated with the Agricultural and Processed Food Products Export Development Authority to increase the share of organic product procurements.
• Investment in Logistics: The company is investing Rs 500 crore to establish a logistics hub, including cold storage in Noida, scheduled to be operational in the next two to three months.
• New Food Plant: A food plant in Kashmir is also "almost complete" and will be inaugurated shortly.
• Expansion Plans: The group has set its sights on Maharashtra's Nagpur for a new shopping mall, alongside ongoing projects in cities like Coimbatore, Lucknow, Calicut, and Ahmedabad.