UAE-based leading multinational retail conglomerate LuLu Group has signed a memorandum of understanding (MoU) with the Jammu and Kashmir (J&K) government in order to set up a food processing & logistics hub in Srinagar.
This historic agreement was signed by Principal Secretary, Industries & Commerce, J&K UT, Mr. Ranjan Prakash Thakur, and Mr. Ashraf Ali MA, Executive Director at LuLu Group. The MoU was inked in the presence of Lieutenant Governor of J&K, Mr. Manoj Sinha, and LuLu Group Chairman, Mr. Yusuff Ali MA.
Mr. Sinha has stated the MoU with the LuLu Group will strengthen the Jammu Kashmir-Dubai collaboration as well as the Jammu Kashmir-LuLu Group partnership.
Manoj Sinha Lieutenant Governor Jammu & Kashmir
“Relations between India and UAE are long-standing & deep-rooted. People-to-people contact and trade have seen momentum in recent years under the leadership of Hon’ble Prime Minister Narendra Modi. The world-famous GI-tagged saffron has been launched at LuLu Hypermarket, which I see as a major step towards boosting Jammu Kashmir and Dubai partnership. LuLu group is already importing apples from Jammu Kashmir and with saffron, we are adding Kashmir’s finest spice to the basket. I am certain this new beginning will take our trade to unprecedented levels.”
Despite the hurdles posed by COVID-19, trade between Jammu and Kashmir and Dubai has remained stable, demonstrating the strength of our deep economic ties, Mr. Sinha further added.
According to the reports, Jammu and Kashmir ranks first in the production of saffron, apple, walnut, and almond in India. The MoU with the LuLu Group will assist the union territory in reaching out to shoppers at 190 LuLu Hypermarkets across the Gulf Cooperation Council (GCC) region and Egypt.
