Lulu Group, based in the UAE, announced on Monday that over the next three years, they will invest Rs 10,000 crore in a number of ongoing projects in India.

Over Rs 20,000 crore have already been invested in India by Lulu Group.

Lulu Group Chairman MA Yusuff Ali told PTI that his goal is to create 50,000 jobs in India, adding that so far, his numerous businesses have created over 22,000 jobs.

He continued by saying that over the course of the next five years, his company has committed to investing Rs 3,500 crore in Telangana.

"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," said Yusuff Ali, when asked about the overall investments on the upcoming projects.

He further said that Prime Minister Narendra Modi had liberalised the rules governing NRI investments, treating all of them as domestic investments.

He also disclosed that a brand-new Lulu Mall, measuring five lakh square feet and being built with a total investment of Rs 300 crore, will open in Hyderabad in August of 2023. A sophisticated integrated meat processing plant focused on exports as well as a cutting-edge Destination Mall with a 2.2 million square  footprint are also planned.

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