Indian Economy News

After the world's largest office, Gujarat to host India's 'biggest mall'

  • IBEF
  • January 15, 2024

The Vibrant Gujarat Global Summit 2024 has emerged as a focal point for international leaders and companies eager to amplify their investments in the home state of Prime Minister Mr. Narendra Modi. One notable participant in this surge of interest is the UAE-based Lulu Group International Chairman, Mr. MA Yusuff Ali, who addressed the inaugural session of the key investment summit. Expressing a keen interest in expanding investments in India, Ali unveiled plans to construct what is touted to be India's largest shopping mall in Ahmedabad, Gujarat. The ambitious Lulu Mall project, anticipated to cost US$ 361.9 million (Rs. 3,000 crore), is set to commence construction this year, as revealed by Ali on the summit's sidelines.

This grand endeavor is a significant component of the Lulu Group's broader commitment to invest US$ 1.2 billion (Rs. 10,000 crore) in India, spread across various ongoing projects over three years starting from 2024. This major investment was announced in 2022, underlining the multinational conglomerate's commitment to contributing to India's economic landscape. The groundbreaking for the Ahmedabad Lulu Mall marks a pivotal moment, signaling increased economic ties between global entities and the vibrant state of Gujarat.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.