RIYADH: LuLu Group chairman Yusuffali M.A addressed the joint meeting of Saudi and Indian businesses on behalf of the Indian businessmen at the Council of Saudi Chambers (CSC).

Speaking at the joint meeting, attended by Indian Premier Narendra Modi, CSC chairman Abdulrahman Al-Zamil, Commerce and Industry Minister Tawfiq Al-Rabiah and Economy and Planning Minister Adel Fakeih, the Lulu chairman highlighted the growth of Lulu chain in the Kingdom.

A group of 30 top Saudi CEOs and Indian business leaders also took part in the talks.

LuLu’s total investment in the Kingdom will touch SR1 billion, the chairman added.

There is a conducive investment climate in India as well as in Saudi Arabia, he said.

The Indian billionaire with a huge presence in Saudi Arabia and other Gulf countries today chairs the $6.3 billion (in terms of revenues) retail giant LuLu Group.

The group’s flagship includes the LuLu retail chain with 121 hyper stores, supermarkets, grocery outlets and a dozen shopping malls across the Middle East, North Africa and Asia.