I learnt business in Gujarat: Retail giant head
Yusuff Ali M A, the boss of EMKE Group which runs the chain of Lulu hypermarkets, on Wednesday praised the people of Gujarat for their business acumen
Written by Lakshmi Ajay | Gandhinagar | Published:January 12, 2017
Yusuff Ali M A, the boss of EMKE Group which runs the chain of Lulu hypermarkets, on Wednesday praised the people of Gujarat for their business acumen and said that he learnt business when he spent four years in the state as per his father’s wishes. “I learnt business from Gujarat and lived here between 1970 to 1974 with my uncle who had a store here in Teen Darwaza area of old Ahmedabad. Yesterday, at the Global CEO Summit, the PM asked me whether I had visited the place where I lived and I shared my experience of going to Teen Darwaza and having a Falooda at Gandhi hotel and reliving my old days. While I grew in the UAE, I learnt business from Gujarat,” Ali said at a panel session at UAE country seminar at VGGS.
An Indian-origin entrepreneur, who started the first Lulu Hypermarket in the 1990s in UAE, Ali hails from Kerala and today owns 132 shopping malls globally.
Earlier at the summit, Ali had announced that his group plans to invest Rs 10,000 crore to Rs 12,000 crore in India and said that the group plans to start a shopping mall, a hotel and a mini convention and exhibition centre aimed at attracting more tourists to Gujarat.
Ali shared his plans of launching shopping malls in Trivandum, Ahmedabad and Lucknow and said that he will be looking at tier-2 cities for future investment.
“The environment of investing in India has changed. One of the first changes the new government under Modi has made is to remove restrictions on NRI or OCI card holders investing into India. Now, NRI investment will be treated as domestic investment,” Ali said.
Underlining the importance addressing the growing problem of food scarcity globally by supporting farmers and through food processing, Ali added: “I am also in the food business and logistics parks and am looking to flag off a fruit and vegetable processing plant in Hyderabad soon. I will construct a shopping mall of international standards in Ahmedabad — a hypermarket and have plans to start a fruit and vegetables processing logistics center here in Gujarat. Since I have learnt business here, I feel it is imperative for me to give something back to the state.”