Lulu Group Reinvests in Andhra Pradesh Projects

Lulu Group International, based in Abu Dhabi, has reversed its previous decision to avoid investing in Andhra Pradesh and is now eager to re-enter the state following a meeting with Chief Minister N Chandrababu Naidu. The company had initially planned a ₹2,200 crore investment during the TDP government, which included constructing an international convention center, a shopping mall, and a luxury hotel in Visakhapatnam, but withdrew its plans after the YSR Congress came to power in 2019. The recent discussions between Naidu and Lulu Group Chairman MA Yusuff Ali included plans for malls, multiplexes, and hypermarkets in Visakhapatnam, Vijayawada, and Tirupati, as well as potential investments in the food processing sector. Naidu assured full government support for these ventures, highlighting the importance of such investments for the state's development. Lulu Group operates across various countries and has an annual turnover of $8 billion, employing around 70,000 people across its operations. This renewed interest marks a significant change in the investment landscape of Andhra Pradesh under the current administration.