Patanjali Ayurved’s goal is to scale up its production to Rs 1 lakh crore by 2020. According to Baba Ramdev it’s not an impossible feat as Patanjali has been registering 100 per cent growth for the last four years. The current objective is reported to be Rs 50,000 crore in the next two-three years for in-house production.
What will also help it achieve this production figure is Patanjali’s continuous investment on food and herbal parks across India. Recently Uttar Pradesh Chief Minister Akhilesh Yadav laid foundation of one in Noida to be constructed on 455 acres with investment of Rs 1,666.80 crore. Then in September the company also set in motion the construction of its food park in Mihan in Maharashtra, spread over 230 acres.
Earlier the homegrown FMCG company had announced the setting up two mega food parks in Andhra Pradesh. It had reported to approach the state government for allotment of 200 acres in the north coastal part. According to media reports it’s also setting up a similar park in Nellore district where it had bought about 150 acres. The Haridwar-based company is also looking to set up 66 food processing units in AP over the next three years. It was reported that the AP government has offered Rs 50 crore incentives to mega food parks, apart from extending the benefits under central government-assisted schemes for processing units.
Then a couple of months ago Assam got its attention where Patanjali decided to invest Rs 1200 crore for another food park. Spread across 150 acres, it will generate 4,000 direct jobs. The state government was reported to give it the status of a mega industry. The Madhya Pradesh government also got the company to set up a Rs 500-crore food processing unit in Dhar district in the state with 400 acres of land allocated to it. Patanjali is also in the process of setting up multiple units in Jammu and Kashmir.
With all the aggressive investments in food parks, mega shelter for cows, Ayurveda research, its initiative to launch ‘swadeshi’ jeans and a Rs 2,000-plus crore project in Uttar Pradesh for integrating farmers to the markets and the wider world, Baba Ramdev-led Patanjali Ayurved aims to end the hegemony of international companies on the Indian economy. The company has turned out to be a formidable force in the FMCG sector with its turnover doubling to Rs 5000 crore at the end of March 2016 from Rs 2,000 crore in 2014-15.
Patanjali Ayurved is also scaling up its business across the border with the set up of its new factory in Nepal, aiming to produce various fast-moving consumer goods. The company has invested over Rs 1.6 billion in the new venture which is named Patanjali Ayurved Pvt Ltd. Nepal.