UAE-based Lulu Group will be investing Rs 10,000 crore in India on various ongoing projects over the next three years and the UAE-based conglomerate has invested over Rs 20,000 crore in the country, Lulu Chairman MA Yusuff Ali said in Hyderabad on Monday.

Share Market Live

NSE

He also said his aim is to provide employment to 50,000 people in India and so far his various enterprises have given over 22,000 jobs.

Yusuff Ali also said the Lulu Group has committed about Rs 3,500 crore in investments in Telangana in the next five years in various projects including a Destination Shopping Mall (Rs 3,000 crore) in Hyderabad and also in other cities in the state.

ALSO READ | APEDA ties up with Lulu to promote export of millet products in Gulf countries

”We have got an investment of more than Rs 20,000 crore in different areas including shopping malls, hotels, and food processing units (in India). We will increase this,” he said.

”We have started the construction of a shopping mall in Ahmedabad. And also another one in Chennai we are coming up. A food processing plant is coming up in Noida and another one in Telangana. It is Rs 10,000 crore investments in the next three years,” Yusuff Ali said when asked about the overall investments on the upcoming projects.

He further said Prime Minister Narendra Modi has liberalised NRI investment laws and according to that all investments by non-resident Indians are treated as domestic investments.

ALSO READ | UAE's Lulu Group opens mall in Lucknow hours after crowds swarmed its Kerala stores for midnight sale

He said a 5 lakh sq ft Lulu Mall built with an investment of Rs 300 crore in Hyderabad will be inaugurated in August and an export-oriented modern integrated meat processing plant and state-of-the-art Destination Mall (2.2 million sq ft ) will also come up.