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Louis Vuitton group plans to invest over Rs 3,000 crore in Ramdev’s Patanjali

Patanjali managing director Acharya Balkrishna says they do not hesitate to use foreign funds for the benefit of country”.

business Updated: Jan 11, 2018 16:02 IST
Asian News International
Asian News International
Asian News International, New Delhi
Patanjali,Acharya Balkrishna,Ramdev
Yoga guru Baba Ramdev and Patanjali Ayurveda MD Acharya Balkrishna.(HT FIle Photo)

French luxury group LVMH Moet Hennessy-Louis Vuitton is willing to invest a mammoth $ 500 million (Rs 3,250 crore) in yoga guru Ramdev’s Patanjali Ayurveda.

Patanjali spokesperson SK Gupta Tijarawala conveyed the information on Twitter on Thursday. “Acharya Balkrishna (MD of Patanjali) has said that just as we use foreign technology for our development, we do not hesitate to use foreign funds for the benefit of our country, but we will take it on our own terms.will not give share/stake.”

In the news clipping attached in the tweet, Balakrishna is quoted as saying that the company needs “Rs 5000 crore to set up plants in Nagpur, Greater Noida, Assam, Chhattisgarh, Andhra Pradesh, Telangana, Haryana and Rajasthan and for the cultivation of aromatic and herbal plants on 10,100 acres”.

First Published: Jan 11, 2018 13:27 IST