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Patanjali will foray into textile manufacturing, says Baba Ramdev

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Patanjali is entering the sector, its founder Yoga guru Ramdev said and expressed hope that the group’s growth rate will swell to 200 per cent in the next fiscal.

Patanjali will foray into textile manufacturing, says Baba Ramdev
Baba Ramdev has expressed hope that the group's growth rate will swell to 200 per cent in the next fiscal

Patanjali group will make a big venture in textile manufacturing sector and apart from the traditional kurta-pajama, it will come out with foreign wears like jeans, Ramdev said at the inaugural function of the two-day Global Investors’ Summit in Indore.

“Our growth rate is 100 per cent in the current fiscal, which is going to climb to 200 per cent in the next financial year,” he said.

He said Patanjali group wants to throw up Rs 10,000 crore income avenues to farmers in farming, milk production and other sectors in the next two to three years.

Ramdev said that big economies globally were facing a slowdown but that the Indian economy stands strong.

“India has all potential to become a big global manufacturing centre. We import Rs 24-25 lakh crore goods that includes four lakh crore Chinese products. If we take a vow, we can turn India into a global manufacturing centre”, said Ramdev said.

He lauded Madhya Pradesh Chief Minister Shivraj Singh Chouhan saying he has come out with industry-friendly policies. He also said that Madhya Pradesh has immense potential in herbal, farming and food processing sector.

Recently, acquired 40 acres of land for setting up a Rs 500 crore food processing unit at Pithampur Industrial area in Dhar district.