 "Ruchi Soya")
Edible oil and food products major Ruchi Soya Industries, which will launch its Rs 4,300-crore follow-on public offer (FPO) in the next few days, intends to reduce its edible oil imports in five to seven years. The company plans to start its own plantations, mainly in the North-East.
This move by Ruchi Soya will eventually increase India’s area under cultivation for oilseeds, said Baba Ramdev, non-executive director of Ruchi Soya, on Monday.
India currently imports 65 per cent of its edible oil requirements worth Rs 1.5 trillion from overseas and Ruchi Soya wants to replace this with its own production in India, said Baba Ramdev.
