Lulu Group to invest Rs 1,000cr in the Indian state of Uttar Pradesh


January 5, 2016 | By RetailME Bureau

LuLu Group chairman Yusuffali MA announced investment worth Rs 1,000 crore ($150 million) in Uttar Pradesh’s (UP) state capital Lucknow, where he plans to build a convention centre, shopping mall and a five-star hotel.

“As a businessman I travel to many countries. Whether I go to Europe, Asia or Far East, or in the Gulf countries, I always find non-resident Indians (NRIs) particularly from UP and Kerala. When I went to Kenya, my friends in the business said ‘Humara tan Africa mein hai, humara dhan London mein hai, lekin humara man Hindustan mein hai’,” Yussufali expressed while addressing the crowd at the maiden UP Pravasi Diwas.

“I have a very close association with UP. Nearly 2,000 persons from UP are working in our food processing companies. I was offered a doctorate by different universities of the world, but the only one I accepted was from the Aligarh Muslim University in UP. After receiving the doctorate there I mentioned the need for sports and for students to have sports complex to promote health. I donated $2 million to construct sports complexes for boys and girls,” he shares.

This time Lulu Group’s investment in UP will create an employment for 3,000 people. “I don’t believe in declarations, but in work. If everything is ready, we promise to begin our construction,” Yusuffali emphasises.

The chief minister of UP Akhilesh Yadav said the Pravasi Diwas was a positive start to the state government’s efforts to reach out to NRIs and for the state machinery to facilitate their connection with roots. “I welcome Yusuffali’s promise to invest in UP. The government will make every effort to ensure that land and any other assistance is provided to him so that he can begin work,” Yadav asserts.

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