AP Government has signed the deal with Patanjali, where the latter will invest Rs 1,000 Cr in the state. The billion dollar turnover flaunting brand Baba Ramdev is going to massively impact the way agro food processing will function within the state.
As part of the MoU agreement, Patanjali Ayurveda has offered to invest Rs 1,000 crore in Andhra Pradesh in agro-based food processing, cattle breeding and a facility for research and development in ayurveda.
Patanjali co-founder Acharya Balakrishna has entered into a Memorandum of Understanding with the state government at the partnership summit in Vizag. The brand intends to engage and pull the FMCG sector into herbal space in a big way and aspires to make Andhra Pradesh viable destination to conduct its business.
This is a huge leap for the farmers. Patanjali will help small and medium farmers Vizianagaram district grow medicinal plants by providing input costs. Whatever the company earns will be given back to the farmers, which is a significant plus.
A cattle breeding center is being planned at Nellore and a research and development center on ayurvedic medicines is being proposed at temple town Tirupati.
This will be the first step to commence business with the multi billion dollar business that is raring to go places. Patanjali’s contemplation to set up herbal and food park in Nellore later will give momentous boost to the employment, engaging the available skill into requisite operations.
To this effect, Baba Ramdev and the Group CEO Acharya Balakrishna has visited the Krishnapatnam Port and the surrounding industrial areas to plan and expedite their expansion activities.