J&K govt signs MoU with LuLU group to set up food processing units in Srinagar

In a major development, Jammu and Kashmir government signed a Memorandum of Understanding (MoU) with hypermarket and retail giant LuLu Group to set up a food processing and logistics hub in Srinagar.

LuLu Group is an Emirati multinational conglomerate company that operates a chain of hypermarkets and retail companies, headquartered in Abu Dhabi, United Arab Emirates.

An official spokesperson said the MoU was signed in the presence of J&K Lieutenant Governor, Manoj Sinha and LuLu group Chairman, Yusuff Ali MA in Dubai. On the occasion, Sinha also inaugurated Jammu & Kashmir promotion week at the LuLu hypermarket, Dubai, he said.

“Relations between India and UAE are long-standing and deep rooted. People-to-people contact and trade have seen momentum in the recent years under the leadership of Hon'ble Prime Minister Narendra Modi,” the Lt Governor said.

“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,” he said.

“Trade between Jammu & Kashmir and Dubai has remained steady, despite Covid-19 challenges and it reflects the resilience of our deep economic linkages. The MoU will further expand Jammu Kashmir-Dubai collaboration and Jammu Kashmir-Lulu Group partnership,” LG Sinha added.

It is pertinent to mention that Jammu & Kashmir is number one in the production of Saffron, Apple, Walnut and Almond in India. The MoU with the LuLu group will help the UT to reach out to shoppers at 190 LuLu Hypermarkets across the GCC and Egypt.

Earlier in October, J&K government entered into an agreement with the government of Dubai for real estate development in the Union Territory (UT). According to the agreement the investors can invest in building industrial parks, IT towers, medical colleges, super specialty hospitals and other sectors in the UT.

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