Buoyed over the positive investment climate promoted in Punjab under the dynamic leadership of Chief Minister Captain Amarinder Singh, Dubai-based Lulu group-a leading group of retail shopping centers in Gulf countries, led by its Chief Executive Officer Saifee Rupawala on Friday expressed keen interest to start its venture in Punjab through an integrated project preferably in Mohali.During an interactive session held here at Invest Punjab-a One Stop platform for all business related regulatory clearances and approvals, the Group evinced that it had already a vast network of 157 retail shopping centers in Gulf and other countries and now they are contemplating to introduce an integrated project having Shopping Centre, Convention Centre and Hotel in Punjab. Group CEO Saifee Rupawala apprised the Additional Chief Secretary Investment Promotion Vini Mahajan that Lulu group had come up with a largest mall in India at Kochi, where the daily footfall was around one lakh and they also plan to launch the similar project in Punjab. He desired that company needs a chunk of nearly 25 acres of land for the proposed project.The delegation comprising Chief Operating Officer of Lulu group international Saleem VI, Directors Salim, Ananth, Buying Manager Zulfiker K and Manager PDD Shamim S. also expressed keen interest in import of fresh vegetable, fruits, basmati, organic products, milk products etc.Welcoming the delegation, Advisor Investor Facilitation Major BS Kohli said that Punjab Government would extend all support for the timely implementation of the proposed project by Lulu Group besides facilitating all requisite approvals from concerned authorities. He reiterated firm commitment of Chief Minister to emerge Punjab as a frontrunner state on the country’s industrial map.
Assuring fulsome support and excellent infrastructure from the Punjab Government, ACS Investment Promotion Vini Mahajan disclosed that Punjab was offering immense potential for global investment and capital fund companies with a great thrust on industrial and infrastructure development. She informed the delegation that Punjab Government had signed a MoU with Airports Authority of India to begin Perishable Cargo Centre at Amritsar airport, which will be made operational by December 2019. This terminal will be instrumental in export of fresh vegetables, fruits and organic products to different parts of the world, she added.Earlier welcoming the delegation for their interest to invest in the state, CEO Invest Punjab Rajat Aggarwal apprised the group that Invest Punjab is a one stop office to provide all regulatory approvals and clearances of 23 departments in stipulated time frame to facilitate investments. He also pointed out that Punjab being a food bowl of the country is a major player in the field of basmati cultivation i.e. 11 percent of the country and 2 percent of the world, which could be imported by the group. He said that Punjab was also one of the key producers of honey, mushroom, kinnow and cotton besides wheat and rice in the country and these products could also be beneficial for the company as it had large network of shopping centers.Briefing about the incentives being provided by the state to investors, Aggarwal said that Punjab was offering reimbursement of capital investment through various incentives besides providing power @ Rs. 5 per unit to industrial sector.Industrialists from Ludhiana, Jalandhar, Moga and some other districts also held interactions with the CEO and COO of Lulu group for export of their products in UAE including vegetables, fruits, jaggery, biscuits, honey, cookies, dairy products, paneer, bed sheets, towels etc.MD Punjab Agro C Sibin, MD Milkfed Manjit Singh Brar, MD Markfed Rahul Gupta, Director Industries DPS Kharbanda, H S Bains, Chief Manager Markfed also interacted with the members of group.Meanwhile, the Lulu Group delegation visited the stalls installed by Markfed with Sohna products, Cremica, HF Super, Acres Fresh, Punjab Agro and Trident group to have a glimpse of varied products.