Baba Ramdev’s Patanjali wants to go green; eyes solar equipment manufacturing sector
After milking the science behind Ayurveda, yoga guru Baba Ramdev’s Patanjali is all set to harness the power of sun. Expanding its market beyond the fast moving consumer goods category, Patanjali is going to diversify into solar power equipment manufacturing, a Mint report said on Tuesday. With the Narendra Modi government’s push to bring the renewable energy revolution in the country, Yoga guru Ramdev-led Patanjali wants to tap into the sector that has not been explored to its full potential so far. Though India aims to produce 100 gigawatts of energy in the next five years, the road may not be easy due to a fierce competition from Chinese manufacturers and rising input costs. However, India could still be a favourite market for the solar energy production given the country’s unbridled commitment towards the Paris Climate deal.
Patanjali products became a rage in the country soon after the company started operations in 2006. Patanjali currently makes a wide range of products including personal care such as hair oil, toothpaste, moisturizing cream, face scrub, healthcare products, ayurvedic medicine, incense sticks, and products like corn flakes, choco flakes, biscuits and even noodles. Getting into solar is in line with the swadeshi movement. With solar, each household in India can have power supply, and we are here to make that happen,” Mint quoted Acharya Balkrishna, managing director of Patanjali Ayurved.
Patanjali acquired Advance Navigation and Solar Technologies Pvt. Ltd. earlier this year. According to the report, the company is set to invest Rs 100 crore in its new factory in Greater Noida. The Greater Noida factory is likely to begin functions in a few months. Balkrishna told Mint that they decided to diversify into solar power after they decided to use solar power in all their factories. “That time we understood (that) most of the solar modules come from China. And there was no quality consistency even in India-made ones,” he added. Balkrishna also said that they started making solar modules for their captive use initially and then decided to use the existing capacity to manufacture solar modules and sell in the market.