.UAE-headquartered store Lulu Group is hoping to increase the quantum of Indian agri procurements to Rs 15,000 crore in the next 2 years as it extends its network around the world, a top company representative mentioned on Tuesday. Its chairman and handling director M A Yusuff Ali informed media reporters that the business organizes to possess an exclusive focus on the all natural great procurement and sees the market value of such items climbing to Rs 2,000 crore in a year. "Concerning Rs 10,000 crore bring ins (of agri items) our team are actually performing annually. Our team are actually seeking to enhance it to Rs 15,000 crore within pair of years since we are also increasing our footprint in numerous nations," he stated. The bring ins predominantly feature products including fruits, vegetables, rice, tea, glucose, spice and also millets, he said, revealing that the produce goes to the Basin Teamwork Council (GCC) countries and also other far-east countries. Ali mentioned his group has actually consolidated the Indian government-promoted Agricultural as well as Junk food Products Export Growth Authority to boost the allotment of all natural product procurements. The firm is trying to import approximately Rs 2,000 crore of all natural fruit and vegetables coming from the nation in a year initially and take it as much as Rs 4,000 crore the following year, he stated. The UAE-based team is aiming to combine teams of farmer developers in smaller sized communities also, he added. The company is actually spending Rs 500 crore to establish a logistic hub, including cold store in Noida, and aims to commission it in the upcoming two-three months. Likewise, a meals plant in Kashmir is actually additionally "almost full" and will be actually commenced in 2-3 months, he claimed. Ali declined remark when inquired about his perspectives on policies governing multibrand retail in the country. At the same time, a resource in the group stated it is taking a look at Maharashtra's winter season capital Nagpur to possess a shopping center. The group has inaugurated or is in the procedure of building malls in areas like Coimbatore, Lucknow, Calicut, Ahmedabad, etc.
Published On Sep 11, 2024 at 08:11 AM IST.
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