The government officials in Jammu and Kashmir region signed a Memorandum of Understanding (MoU) with the UAE-based multinational retail and hypermarkets operator, LuLu Group International to launch a food processing and logistics hub in Srinagar.
The contract aims to expand financial cooperation between the Emirate of Dubai and the Jammu and Kashmir region.
"The bilateral relations between India and the UAE are long-standing and deep-rooted, noting that “people-to-people contact and trade have gained momentum in recent times.”
“Trade between Jammu Kashmir and Dubai has remained steady, despite COVID-19 challenges and it reflects the resilience of our deep economic linkages,” Sinha expressed
Added that “the MoU will further expand Jammu Kashmir-Dubai collaboration and Jammu Kashmir-LuLu Group partnership.”
Under the agreement, the union territory will have extended reach over 190 LuLu hypermarkets across the UAE, the GCC and Egypt.