Baba Ramdev's Patanjali Ayurved , which has given a tough competition to FMCG firms, personal care companies, plans to enter the restaurant business dominated by McDonald's, Kentucky Fried Chicken and Subway in India.
The new venture will leverage the popularity of the Patanjali brand in the already crowded restaurant market.
Food accounts for about 57% of country's total retail business and the market is expected to more than triple to Rs 71 lakh crore ($1.1 trillion) by 2025, according to India Food Forum, a retail-exhibition platform, according to a Bloomberg report.
Ramdev on Thursday announced Patanjali's earnings over the past year during a press briefing in Haridwar, saying the numbers would make multinational companies fret. Ramdev provided a detailed information on how the top selling products of the company had fared and said that the turnover of the company was Rs 10, 561 crore in the previous fiscal year.
Patanjali plans to double its turnover this year, Ramdev said. He re-emphasised that Patanjali's main aim was charity and introduced a new business policy of "Prosperity for Charity" for the ayurveda company.
Foreign companies are not here to do charity but to earn profits whereas Patanjali's profits will help serve the country, Ramdev said.
Taking a dig at Colgate, Baba Ramdev said that it came here with only Rs 20 lakh. Ramdev alleged that some people were spreading misinformation that MNCs are here to invest and bring technology.