RIYADH: Top entrepreneur and philanthropist Yusuffali M.A. with huge presence in Saudi Arabia and other Gulf countries will be among the key business personalities who will be accompanying Indian Prime Minister Narendra Modi during his visit to the Kingdom on April 2 and 3.

The Indian businessman, who has a close affinity with Modi, chairs the $6.3 billion (in terms of revenues) retail giant LuLu Group, whose flagship include the LuLu retail chain with 121 hyper stores, supermarkets, grocery outlets and a dozen shopping malls across the Middle East, North Africa and Asia.

The LuLu Group has expanded into Africa by opening its first hypermarket in Egypt last year. It now plans to invest $300 million to build nine more.

Moreover, the hospitality arm, Twenty14 Holdings, has been on a buying spree, picking up trophies such as the iconic Scotland Yard building in London, which the Group plans to convert into a luxury hotel.

In an exclusive interview, Yusuffali shared his views with Arab News on plans and visions including back home in India, where he is said to have made a huge investment to set up malls, a convention center, hotels and food processing plants in southern and northern parts.

Following are the excerpts from the interview :

Q. Sir, Being a successful entrepreneur and philanthropist, how do you see PM Narendra Modi as a leader? What is your take on India?

A. As they say winners don’t do different things, they do things differently.

But in the case of our Prime Minister, it seems he is doing different things that too in a whole new way, which is not only attracting global appreciation and recognition but also bringing new energy and vigor to all strata of society in India.

He is the Prime Minister of 1.3 billion people in India, which is also home to the second highest Muslim population in the world.

So obviously he commands a lot of respect from all the world leaders and ethnic groups.

Yes, India is a power house, but a lot has to be done, and can be done to march ahead. So PM Modi is obviously in a great hurry and that is visible from the many initiatives he has been taking.

Whether it is Swachh Bharat (clean India) campaign, Digital India & Make In India or Start-up initiatives, he is clearly focusing on a 360-degree development of India, which is good for investors.

Q. How do you look at the business and investment environment in India ?

A. The Indian economy is one of the few in the world which is still growing aggressively and is expected to grow further.

The government, under the leadership of Narendra Modi, needs many policy changes to make it easier for foreign investors to come to India.

Many sectors have been opened up for FDI (foreign direct investment) like food processing, infrastructure, banking, energy and aviation.

Significantly, India’s biggest asset is its young, educated and skilled human resource. So it is always going to be a favorite destination for a variety of investors and MNCs.

I know many Saudi companies that have invested in India and many more will look toward India in the coming days.

Q. How do you view this high-profile visit to the Kingdom?

A. Saudi Arabia has been for a long time a strategic and economic partner of India. Both the countries have enjoyed a very strong and friendly relationship for centuries. Moreover, Saudi Arabia is home to almost three million Indians, who live, work and earn their livelihood with utmost respect.

I am sure this important visit by Premier Modi will further strengthen the bilateral relationship.

Significantly, Saudi Arabia is the biggest economy in the region and offers great potential for Indian companies and investors.

Many leading Indian companies have set up their operations in the Kingdom recently. Moreover, the Saudi government has been going for a lot of policy changes to help the business community and attract foreign investors in various sectors.

I am sure this will further push the growth and development across the Kingdom.

Q. What are Lulu’s plans in the Kingdom as the largest Indian investor in the retail sector?

A. As the largest investor in the Saudi retail sector, we are very confident of our Saudi expansion.

Currently, we have six Lulu hypermarkets in Saudi Arabia at an investment of SR800 million.

Our immediate plans include four new hypermarkets this year in Jeddah, Hail and Hofuf.

We plan to invest SR 700 million next year at six more new locations, including Makkah and Madinah. So we plan a total investment of SR1.5 billion.

Q. What is your view on Saudization?

A. We are a strong supporter of Saudization and have always maintained more than the required quota of nationals under the program that aims to streamline the local labor market.

Q What are your plans on further expanding business in India?

A. We already have the largest shopping mall at Kochi in India and will be opening six new malls in Kerala, Andhra Pradesh, Telengana and Uttar Pradesh in the next three years.

Our other focus in India is going to be on hospitality and MICE (Meetings, Incentives, Conferences and Exhibitions) sector, where we will be investing close to $1.2 billion in developing world-class convention centers, 5-star hotels and IT parks, apart from logistics and food processing plants.

The Lulu International Convention Center and Grand Hyatt Hotel coming up at Bolghatty in Kerala is 75 percent ready and will be one of its kind in Asia, fit to host a range of summits including Global Leaders’ Summit.

Q. Your comment on LuLu’s plan to cater to generation next...

A. Now that we have firmly established ourselves in all format of retailing from small express to hypermarkets and shopping malls, we will be going full strength in setting up online business.

Luluwebstore.com has already been launched and the first phase will soon be rolled out in Saudi Arabia.

This will not only get us new customers, but also be more convenient for shoppers around the region.

Q. What are LuLu’s global expansion plans?

A. We are focusing now on Malaysia and Indonesia in the Far East and will be launching our first store there by May.

Meanwhile, our food and beverages division, Tables Food Company, is on an aggressive expansion mode with many new international and local food concepts being rolled out in the UAE and India, and soon in other GCC countries.

We currently have operations in 41 countries, including Africa and the UK.

Recently, we set up bases in Brazil and the US to further strengthen our sourcing capacities to cater to a wider section of multi-ethnic population in the GCC.

Q. How do you look at your employees base?

A. I have always considered my loyal staff as the pillar of the group’s success.

Each of the 36,000 plus of my employees is very important to me and I personally get involved in the HR activities.

I have always followed an open door policy to make decision making simpler and faster. As a policy, I meet every new employee, even the delivery boys at the time of joining or new store opening and welcome them to the LuLu family.

With our aggressive expansion plans, we promote our existing staff rather than hire seniors from outside.

This indeed motivates my staff to be loyal and dedicated.

We currently have more than 1,500 Saudi nationals on our payrolls.

Q. What is your advice to the new generation looking up to you as a role model?

A. There is no short cut to success and never take your customers for granted.

This is the mistake many made during the boom time.

When the global slowdown happened, these companies could not withstand the pressure were wiped out of the market.

My advice to the youth is to first establish your foundations strongly then plan your expansion strategies in your core activity areas, rather than dabbling in many diversified fields.

We have been able to succeed in this highly competitive retail sector solely because of the fact that we have never stopped evolving. Indeed evolution is a good sign of growth.

Moreover, innovation is key to success and more so in the service industry, so be innovative in your ideas and plans.

Q. How do you plan to deal with recession?

A. This is purely a temporary phenomenon.

I myself have gone through many of these so-called recessions or economic slowdowns. Yes, it does affect growth, but if the organization is based on strong fundamentals and has long-term vision and planning, then it is not a big issue.

But if you are looking to make quick money or indulge in a business which is not your core sector, you are sure to get badly hit during such tough times.

Q. Would you say something about your personal life for the readers?

A. It might sound cliche, but I hardly find time to indulge.

However, whenever I can (during my tours) I enjoy reading, especially non-fictional works from different countries and beliefs.

Apart from that, what I cherish the most is time spent with my family, especially my grand children. It totally takes away all the stress.