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Baba Ramdev's Patanjali to enter textile manufacturing
Oct '16
Patanjali Ayurved, an enterprise initiated by yoga guru Baba Ramdev, is entering the textile manufacturing sector. In addition to the already announced ‘swadeshi jeans’ range, the venture will manufacture saris, kurta-pajamas, shirts and coats. The company is eyeing to increase its growth rate from 100 per cent this fiscal to 200 per cent in the next.

“Some say I will make jeans, but jeans is just one product. I will make saris, kurtas, shirts and coats. Patanjali will have 200 per cent growth next year,” Ramdev said during his address at the inaugural function of the two-day Global Investors’ Summit in Indore.

Patanjali group wants to create Rs 10,000-crore income avenues for people engaged in agriculture, milk production and other sectors in the next two-three years, he said.

The group is likely to invest Rs 500 crore in setting up a food processing plant in over 45 acres of land allotted to it by Madhya Pradesh state government in Pithampur near Indore.

Last month, Ramdev had announced that the group will launch a ‘swadeshi jeans’ range by this year-end or early 2017.

The Patanjali brand has more than 800 products, and last year the company reported a turnover of Rs 5,000 crore. By the end of the current financial year, the group plans to achieve turnover of Rs 10,000 crore. (RKS)

Fibre2Fashion News Desk – India

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