Patanjali to Enter Textile Manufacturing Sector
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.
“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 added.
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.
Apparel & Textile News – Apparel Talk, Indian Apparel