APEDA and Lulu Hypermarket MoU to promote Indian agri-products

Utkarsh Classes Last Updated 05-03-2024

APEDA and Lulu Hypermarket MoU to promote Indian agri-products

Economy 4 min read

The Agricultural and Processed Food Products Export Development Authority (APEDA), Ministry of Commerce, Government of India, has signed a Memorandum of Understanding (MoU) with global retail giant Lulu Hypermarket LLC. It intends to increase agricultural product exports to the Gulf Cooperation Countries (GCCs).

Memorandum of Understanding (MoU) Between APEDA

The Memorandum of Understanding (MoU) was signed by APEDA Chairman Shri Abhishek Dev and Mr Yusuf Ali MA, Chairman-cum-Managing Director of LuLu Group.
It was signed on November 3, 2023, in New Delhi, during the World India Food (WIF) 2023.
The agreement aims to promote Brand India internationally.
APEDA would market Indian agricultural goods throughout the GCC, as the LuLu Group International (LLC) has a presence in the GCC, Egypt, India, and the Far East, with 247 LuLu outlets and 24 shopping complexes.
The MoU would enhance promotional operations for APEDA's planned items with the retail chain LuLu Hypermarket.

International Year of Millets (IYoM)

The United Nations has declared 2023 to be the "International Year of Millets." The Indian government proposed this.
APEDA is promoting IYoM 2023 by conducting export promotion events for millets at 16 International Trade Fairs, including Gulfood 2023, where the agreement was signed.

About APEDA

The Agricultural and Processed Food Products Export Development Authority (APEDA) is part of the Ministry of Commerce and Industries.
It encourages the export of agricultural and processed food from India.
The Processed Food Export Promotion Council (PFEPC) is the organisation which was replaced by APEDA.
The Government of India founded APEDA in 1985 under the Agricultural and Processed Food Products Export Development Authority Act.
The Agricultural and Processed Food Products Export Development Authority Act, approved by Parliament in 1985, created it as a statutory entity.
Head Office: New Delhi

About Gulf Cooperation Council (GCC)

The Gulf Cooperation Council (GCC) is a grouping of six Gulf countries. The countries are Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain.
The council is India's largest commercial bloc.
The GCC was created in 1981 by an agreement signed in Riyadh, Saudi Arabia, between Saudi Arabia, Bahrain, Oman, Kuwait, Qatar, and the United Arab Emirates (UAE).

LULU Group

Lulu Group is a multinational retail hypermarket corporation which essentially operates like a supermarket.
The LuLu Group is the Middle East and Asia's fastest expanding retail chain.
It is a multinational corporation with over 232 shops in the GCC alone.
Headquarters-Abu Dhabi, UAE.