French luxury group eyes investing over Rs 3K cr in Patanjali

January 11, 2018 11:28

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". -- ANI

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