Columns

Lulu Group aims to up agri sourcing from India to Rs 15,000 crore in pair of years, says CMD, ET Retail

.UAE-headquartered seller Lulu Team is actually seeking to enhance the quantum of Indian agri purchases to Rs 15,000 crore in the following pair of years as it extends its network globally, a best company official said on Tuesday. Its own leader and also handling supervisor M A Yusuff Ali informed media reporters that the business plans to possess a special pay attention to the natural good procurement and also sees the market value of such goods climbing to Rs 2,000 crore in a year. "About Rs 10,000 crore imports (of agri products) our company are carrying out yearly. Our team are seeking to raise it to Rs 15,000 crore within two years considering that our experts are additionally growing our impact in lots of nations," he pointed out. The imports primarily include assets like fruit products, veggies, rice, tea, sugar, flavor and also millets, he claimed, indicating that the fruit and vegetables heads to the Bay Teamwork Authorities (GCC) nations as well as other far-east nations. Ali stated his team has actually combined the Indian government-promoted Agricultural as well as Junk food Products Export Development Authorization to boost the share of natural item purchases. The company is actually looking to import approximately Rs 2,000 crore of natural fruit and vegetables from the nation in a year originally and also take it as much as Rs 4,000 crore the following year, he mentioned. The UAE-based group is actually trying to tie up with groups of farmer manufacturers in smaller towns also, he incorporated. The business is committing Rs five hundred crore to set up a logistic center, including cold store in Noida, and strives to commission it in the upcoming two-three months. Similarly, a food vegetation in Kashmir is additionally "just about total" and also are going to be actually commenced in 2-3 months, he said. Ali refused review when asked them about his perspectives on requirements controling multibrand retail in the country. On the other hand, a source in the group mentioned it is actually examining Maharashtra's winter capital Nagpur to have a shopping mall. The group has ushered in or remains in the process of property malls in areas like Coimbatore, Lucknow, Calicut, Ahmedabad, and so on.
Released On Sep 11, 2024 at 08:11 AM IST.




Join the neighborhood of 2M+ industry professionals.Subscribe to our newsletter to receive most recent ideas &amp review.


Install ETRetail App.Acquire Realtime updates.Save your favorite write-ups.


Browse to install App.