Lulu Group's Strategic Expansion: Boosting Indian Agri Imports and Organic Produce

UAE-based Lulu Group plans to increase its Indian agricultural procurements to Rs 15,000 crore within two years as part of its global expansion strategy. The company is also focusing on organic produce, aiming for Rs 2,000 crore in organic imports initially, with plans to double this. Investment includes a logistic hub in Noida and a food plant in Kashmir.

UAE-headquartered retailer Lulu Group is eyeing a substantial hike in its procurement of Indian agricultural products, targeting an increase to Rs 15,000 crore within the next two years, according to a senior company official on Tuesday.

Lulu Group's Chairman and Managing Director M A Yusuff Ali emphasized the company's commitment to organic produce, forecasting its value to reach Rs 2,000 crore annually. He revealed that current annual imports of agricultural products stand at Rs 10,000 crore, predominantly including fruits, vegetables, rice, tea, sugar, spice, and millets, exported mainly to GCC and Far East countries.

The group has partnered with India's Agricultural and Processed Food Products Export Development Authority to boost organic procurements. They plan to scale organic imports from Rs 2,000 crore to Rs 4,000 crore. The company is also investing Rs 500 crore in a logistic hub in Noida and a food plant in Kashmir, set to be operational in a few months. Additionally, Lulu Group is expanding its retail footprint in cities including Nagpur, Coimbatore, Lucknow, Calicut, and Ahmedabad.

(With inputs from agencies.)