Ramdev considers Rs 50,000 rupees Ruchi Soya turnover
INDORE: Ruchi Soya Industries acquired by Baba Ramdev led Patanjali Ayurved for Rs 4,350 crore, is eyeing a multifold jump in turnover in the next 5 years by adding new products into health segment and increasing palm plantation. Baba Ramdev said, “We are looking at increasing the turnover of Ruchi Soya to Rs 50,000 crore in the next 3-5 years by launching new healthy products, utilizing total capacity and increasing coverage under palm plantation to 2 lakh hectares of the current 50,000 hectares.
Ramdev said the total investment of Patanjali Ayurved in Ruchi Soya will be over Rs 5,000 crore. Appreciating the government’s move to restrict imports of refined Palm oil stating this will reduce import burden on the country, Ramdev said, “India has the potential to become self-sufficient in meeting oil demand of the country in just 5 years and cut down on imports. Government needs to take initiatives in agriculture to increase production and productivity.” He added that the restriction on imports will rejuvenate local industries and help farmers. “We will not have to import Palm oil if plantation of Palm oil grows to 20 lakh hectares and this can be done in 5 years,” said Ramdev .
He said the company will now focus on promoting natural oil and healthy oil in the market. Addressing a meeting of industrialists on $ 5 billion in economy: vision of reality organized by the Indore Management Association , Ramdev stressed on contribution from every sector to achieve the goal. Baba said, “To achieve the target of“ $ 5 trillion economy 'only 20 per cent rise is required as the target calls, which is not at all impossible. ”He stressed that agriculture was the key to reach the objectives and more initiatives needs to be introduced to improve farming in the country. Responding to a question on the future of India asked by Dr. Himanshu Rai, Director of IIM, Indore, Ramdev said, “When people rise above hate, caste, religion and work biases, India will become the golden bird it once was.”