French firm shows interest to invest Rs 3250 Cr in Patanjali
 Source : NewsBharati  Date : 11-Jan-2018

New Delhi, January 11: LVMH, a French luxury conglomerate has evinced interest to invest Rs 3250 crore in the Indian FMCG firm, Patanjali.

Patanjali’s chief executive Acharya Balkrishna 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.

Patanjali’s spokesperson SK Gupta Tijarawala said on Twitter that Patanjali will not “hesitate to use foreign funds for the benefit of our country”.

“Acharya Balkrishna has said 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, we will not give share/stake,” Tijarawala said on Twitter.

Patanjali has emerged to be one of the fastest growing FMCGs by attaching the Swadeshi label on their products. In order to compete with Patanjali, Hindustan Unilever, Colgate Palmolive and Dabur were forced to recreate and ramp up their ayurvedic products.