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”.

Published: 11th January 2018 05:39 PM  |   Last Updated: 11th January 2018 05:39 PM   |  A+A-

Picture taken from Patanjali official website | For representation purpose only

By ANI

NEW DELHI: French luxury group LVMH Moet Hennessy-Louis Vuitton, is willing to invest a mammoth 500 million USD (Rs 3250 crore) in Patanjali Ayurveda.

Patanjali spokesperson SK Gupta Tijarawala  conveyed the information on Twitter on Thursday, and added, “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".

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