During Prime Minister Narendra Modi’s visit to the United Arab Emirates, LuLu Group Chairman M. A. Yusuff Ali said a major policy change in India has made investments from non-resident Indians (NRIs) count as domestic investment. He described it as a significant reform that has made it easier for overseas Indians to invest back home.
He said earlier rules created hurdles for NRIs, but those restrictions were removed after the current government took office, opening the door for smoother and larger investments across Indian states.
Retail Expansion Across India
Yusuff Ali said the LuLu Group has already built shopping malls in cities like Lucknow and Hyderabad, and is now developing what it calls India’s largest mall in Ahmedabad. He added that two more locations are in the pipeline and will be announced soon.
Rising Employment Through Business Growth
The group currently employs around 18,000 people in India, and he expects that number to rise to about 25,000 within the year as expansion continues.
India–UAE Trade Links Strengthen
He also pointed to stronger trade relations between India and the UAE, saying the CEPA agreement has made the UAE an important hub for exporters and importers. According to him, businesses are increasingly using the UAE as a base for trade routes connecting Africa, Europe, and the Middle East.
