Last Updated: Tuesday, December 5, 2017

Patanjali to enter in solar business

Latest Business News: Patanjali to enter in solar business
Baba Ramdev owned Patanjali soon to enter in Solar business. As per sources Patanjali Ayurved Ltd, India's leading and the fastest growing FMCG company, is poised to enter into solar business soon this will be in line with the swadeshi movement. According to Acharya Balkrishna, managing director of Patanjali Ayurved with solar, they are to ensure power supply to each household in India.

This is the Patanjali’s first exposure to the infrastructure sector and comes after its runaway success in FMCG products. The company is further anticipating a opening for itself in solar equipment manufacturing.
Besides its main business of packaged consumer goods, Patanjali has a presence in retail, education and healthcare (Ayurveda). The company sells everything from shampoo and toothpaste to biscuits, noodles, rice and wheat.
MD Acharya Balkrishna says; Patanjali plans to invest Rs100 crore for manufacturing solar power equipment a move in line with the firm’s ‘swadeshi’ focus.
India proposes to award 100GW of solar and wind contracts by March 2020. This includes a plan to invite bids for setting up 20GW solar power capacity—the world’s largest solar tender—at one go, to spur domestic manufacturing of solar power equipment.
“We will continue with this for now. We would look at expansion once demand grows,” said Balkrishna.
Experts questioned the rationale behind the diversification.
“The two segments require very different capabilities. However, they have built their business on the ‘swadeshi vs videshi’ platform. From that perspective, solar manufacturing for domestic content requirement in upcoming projects fits into their business rationale,” said Abhishek Poddar, a partner at consulting firm A.T. Kearney Ltd.

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