Lucknow: Lulu Group International has announced plans to further expand its investments in Uttar Pradesh and also expressed its commitment to bringing investments from other countries into the state. The announcement was made by Yusuff Ali, Chairman of Lulu Group.
Speaking during the World Economic Forum (WEF) meeting in Davos, Yusuff Ali said that the group’s shopping mall in Lucknow has been witnessing strong footfall, exceeding expectations. He also confirmed that a new Lulu Mall in Noida is in the final stages of planning, which will cater to customers from the National Capital Region, including Delhi.
“Uttar Pradesh is an extremely important state in India. Under the dynamic leadership of Chief Minister Yogi Adityanath, the state has become highly investment-friendly. He is industry-supportive, business-friendly and has extended full cooperation to us,” Yusuff Ali said. He added that Lulu Group already operates food processing plants in Uttar Pradesh and receives consistent support from the state government.
Highlighting the success of the Lucknow mall, he said the footfall has been nearly double of what the group had initially projected, making it one of the most popular shopping destinations in the region. “Uttar Pradesh is a very favourable state for investment, and we are now finalising a shopping mall in Noida so that people from Delhi can also benefit,” he added.
Yusuff Ali also spoke about the strong and historic ties between India and the United Arab Emirates (UAE), noting the close personal relationship between Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan. He said such ties further strengthen bilateral cooperation and investment opportunities.
UAE President Sheikh Mohamed bin Zayed Al Nahyan visited India on January 19 at the invitation of Prime Minister Narendra Modi. This marked his fifth visit to India in the last ten years and his third official visit as UAE President. During the visit, both leaders reviewed the full spectrum of India-UAE bilateral cooperation and reaffirmed that the Comprehensive Strategic Partnership between the two nations has grown significantly over the past decade.
Yusuff Ali noted that Davos provides a unique global platform where professionals, intellectuals, geopolitical leaders, heads of state, investors and industry leaders come together. “This is my 16th year here, and every year there is something new to learn and opportunities to collaborate across regions,” he said.
Meanwhile, another major investment announcement for Uttar Pradesh was made at Davos. AM Group, a leading energy transition platform backed by the founders of Greenko Group, signed a Memorandum of Understanding (MoU) with the Uttar Pradesh government to set up a massive Artificial Intelligence (AI) compute hub in Greater Noida.
Announced at WEF Davos 2026, the project proposes a total investment of around USD 25 billion, making it one of the largest investments in India’s digital infrastructure sector. The AI hub will be developed in phases, with the first phase expected to be completed by 2028. By 2030, the facility aims to reach a total capacity of 1 gigawatt, housing nearly 500,000 advanced high-performance chipsets to handle global AI workloads.
These developments further reinforce Uttar Pradesh’s growing stature as a preferred destination for large-scale domestic and international investments.
