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French luxury group eyes investing over Rs 3K cr in Patanjali

ANI  |  New Delhi [India] 

French group Moet - Louis Vuitton, is willing to invest a mammoth 500 million USD (Rs 3250 crore) in Patanjali Ayurveda.

SK Gupta Tijarawala conveyed the information on on Thursday, and added, "Acharya Balkrishna (MD of Patanjali) has said that just as we use 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.will not give share/stake."

In the news clipping attached in the tweet, Balakrishna is quoted as saying that the company needs "Rs 5000 crore to set up plants in Nagpur, Greater Noida, Assam, Chhattisgarh, Andhra Pradesh, Telangana, and and for the cultivation of aromatic and herbal plants on 10,100 acres".

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 11 2018. 11:05 IST