New Delhi: Patanjali Ayurved has branded itself as 'Swadeshi' brand and has described itself as an alternative to foreign brands, but now this company has agreed to deal with foreign companies. The company's CEO Acharya Balakrishna told Economic Times that there are 3-4 foreign companies that want to do international deals with Patanjali.
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Acharya Balakrishna said that we are not against any multinational company, as long as there is no tampering of the value of Patanjali. A company cannot be rejected because it is a multi-national company. Balakrishna said that we are eyeing all these deals. But he has refused to name any company. French luxury company LMVH had said recently that it is keen to buy shares in Patanjali Ayurved.
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Because of Patanjali, companies like Hindustan Unilever (HUL), L'Oreal, Colgate and Dabur will focus on the Ayurveda product segment with special attention, as within a decade this company has become 10 thousand crores. However, according to the latest Nielsen report, Patanjali's Ayurveda product range market share has declined. Sales of soaps, hair oils, surf, and noodles declined from July 2018 to July 2019. HUL has also relaunched its Ayurveda product in this category. Although the company's CEO Acharya Balakrishna says that the decline in sales is due to GST, sales have started to improve gradually.
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