On Wednesday (January 5, 2022), Dubai-based Lulu Group has signed a Memorandum of Understanding (MoU) with one of the union territories of India, Jammu and Kashmir (J&K) administration. Under this MoU, the group will establish a food processing and logistics hub in Srinagar, the capital of J&K.
The MoU was signed by Lulu Groups Executive Director Ashraf Ali MA and J&K UT Principal Secretary, Industries and Commerce, Ranjan Prakash Thakur. The pact was inked at the sight of Lieutenant Governor Manoj Sinha and Lulu Group Chairman Yusuf Ali MA. Along with this, Lt Governor Manoj Sinha also inaugurated Jammu and Kashmir promotion at the Lulu Hypermarkets in Dubai.
Mr Sinha, while commenting on the India-Dubai relation, said, “India is looking forward to working with Dubai in future collaborations as the relationship between both nations has been deep-rooted and long-standing”.
He also mentioned that the trade between Dubai and Jammu & Kashmir continued even during the tough Covid-19 times, reflecting the solid economic linkage.
Lt Governor of J&K further said that the trade and people-to-people contact increased with the passing years under the prime minister of India, Narendra Modi. He has also expressed hopes to take the trade to the next unmatched level.
Jammu and Kashmir-Dubai partnership would witness a boost after GI tagged saffron launched at the Dubai-based Lulu Hypermarket. It is worth mentioning that J&K is the leading producer of Saffron, Apples, Walnuts and Almonds in India, and the administration has been exporting Apples, Saffron to Lulu Group. The J&K government will add Kashmir’s most delicate spices to the exporting basket in the upcoming days.
This MoU will benefit both ends and help the Union Territory reach the shopkeepers at the 190 Lulu Hypermarkets across Gulf Corporation Council (GCC) and Egypt.
As per the reports, Lulu Group earlier mentioned that it is planning to set up 17 more hypermarkets in 2022 and will further develop e-commerce and logistics facilities. This will help the group be among the top three e-commerce facilities in the Gulf region. It’s noteworthy that Lulu Group has already provided an online shopping facility in India and Malaysia.
