New Delhi, March 18: After giving multinational consumer products makers a run for their money in India, Baba Ramdev's Patanjali Ayurved Ltd is planning to start exports to East Asian countries like China, Myanmar, Bangladesh and others.
Reportedly, Ramdev is all set to mark Patanjali’s debut in China, and would find support in government's 'Act East' policy, as per which government aims to do business with countries in India’s east.
A production unit of Patanjali Ayurved will be set up in Sahibganj, a district in Jharkhand, which as per central government’s plans, will become a multi-modal hub having direct links with the neighbouring East-Asian countries using roads, waterways and air.
“Patanjali is in talks with the Inland Waterways Authority of India and shipping minister Nitin Gadkari to use the Sahibganj multi-modal terminal for export of its products to East Asian countries like China, Myanmar, Bangladesh and others. By using the inland waterways, the company will save on its logistic costs for exports and the idea is to capture the East Asian market by competing on price and quality,” said a senior central government official on condition of anonymity.
Patanjali has already been exporting its products to Canada, Mauritius, the US and UK.
Patanjali, which claimed to have earned Rs5,000 crore of revenue in the year to 31 March, 2016 and said it hopes to double that in the current year, has a factory in Haridwar (Uttarakhand), and has started work to set up plants in Uttar Pradesh, Madhya Pradesh, Maharashtra and Jammu and Kashmir.
In April 2016, Acharya Balkrishna, Ramdev’s close confidant and managing director of Patanjali Ayurved, said at a press conference that the company will spend more than Rs1,000 crore to set up new production units and Rs150 crore on a research and development facility.
Meanwhile, Chinese economy is struggling because of growing labour cost. India is all set to export its goods to the neighbour economy and make good use of the opportunity.