After Patanjali, Baba Ramdev forays into private security business
A group of well-toned young men and women flexing muscles, walking on tightrope and running inside Ramdev’s Patanjali complex in Haridwar has nothing to do with his ayurveda and FMCG business. These youngsters are getting ready to work as private security guards with Ramdev’s Parakram Suraksha Private Ltd.
The yoga guru is looking beyond FMCG and Ayurveda business. Ramdev has set his sights on the lucrative private security business and launched his security firm, Patanjali sources said on Tuesday. “Patanjali has sensitised people towards Ayurveda, Yoga and Swadeshi (products). Now our aim is to prepare individuals for self and country’s security and for this we have formed Parakram (security agency),” Ramdev said in a statement.
According to Patanjali sources, the yoga guru has hired retired army and police officials to train new recruits. Some retired officials have joined as volunteers to share techniques with the youth. The plan is to make the security firm visible in some key states by the end of this year.
According to a study by the Federation of Indian Chambers of Commerce and Industry (FICCI), the private security business is growing at a rate of 40% with more than 5 million trained guards working in shopping malls, guarding individuals and in security corporate offices among others.
The FICCI report has pegged the industry at Rs 40,000 crore. “As early as in 2006, it was reported that the industry was paying Rs 10,000 crore to the exchequer by way of service tax, provident fund, contributions to employees insurance etc,” the study said.
Earlier, the Ramdev-promoted Patanjali had announced to venture into higher education and dairy business. Riding on Ramdev’s brand image, the company doubled its turnover to Rs 10,000 crore in the last financial year. Though some Patanjali products are in news for failing lab tests, these developments seem to have failed to deter the yoga guru from expanding his business.