Comments
Abu Dhabi-based Lulu Group International has signed an agreement with Karnataka government to invest ₹2,000 crore in the State for setting up four shopping malls, hyper market, and export-oriented food processing units.
The investment is expected to generate more than 10,000 jobs in the State. According to the agreement, the State government will assist the Lulu Group in obtaining required permissions, clearances and approvals from the concerned departments in accordance with the State’s current rules, regulations and policies.
The deal was signed by EV Ramana Reddy, Additional Chief Secretary, Department of Industries and Commerce, and AV Ananth Raman, Director, Lulu Group International, at the World Economic Forum Summit in Davos. Chief Minister Basavraj Bommai and Murgesh Nirani, Karnataka Minister of Large and Medium Industries, were also present.
Chief Minister Bommai explored various investment opportunities at the summit. He met with Pawan Munjal, Chief Executive Officer (CEO), Hero Group, and Bernd Montag, CEO, Siemens Healthineers, to discuss investment opportunities in the State. The Karnataka CM also interacted with key executives of Hitachi Energy and Jubilant groups and talked about EV charging stations and investment in the FMCG sector, respectively.
Earlier today, Bommai and Nirani along with various officials inaugurated the Karnataka pavilion at the World Economic Forum Summit to advocate the State as an investment destination.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.