Yoga guru Baba Ramdev said his FMCG venture Patanjali Ayurved is targeting to shore up its production to Rs one lakh crore by 2020.
At the 'Agenda Aaj Tak' event, Ramdev said, "Patanjali has been registering 100 percent growth for the last four years and this year too we have been growing at the same pace. Our target is to take our inhouse production to Rs 50,000 crore in the next two-three years and ultimately reach the target of Rs one lakh crore by 2020."
The aim to end the hegemony of international companies on the Indian economy, he said.
Ramdev added, "Our imports consist of over Rs 25 lakh crore while another Rs 25 lakh crore is taken away by foreign companies. If we need to break this hegemony and our dependence on foreign companies, we need in house production of at least Rs.100 lakh crore. Our endeavor is to create and promote Indian entrepreneurship."
He said, "Demonetisation has broken the back of terrorism and Naxalism (Maoism) as their entire funding was in black money. This move will effectively address the issue of black money. However, the government should continue to take further steps to ensure black money does not make a comeback to the system," he said.
Ramdev further said: "Maybe there was needed some more preparation for implementing the scheme but at the same time, it could have lead to leaking of information and the entire exercise would have failed."
He also said that the government needed to reconsider its decision to introduce the Rs 2,000 notes.
