Yoga guru Ramdev, who runs foods and cosmetics firm Patanjali that is eyeing Rs 5,000 crore turnover this fiscal, today asked entrepreneurs to keep their products affordable and provide a big push to the domestic market.
Addressing a gathering of over 600 entrepreneurs here, Ramdev said India has a huge potential and they should work to promote Swadeshi products.
“You should be 100 per cent honest for the work which you are doing. The prices of your products should also not be high,” he said at a conference by Entrepreneurs Organisation.
Pointing to overpricing by Indian companies, he said: “We are not competing with any Indian companies but at the same time, I want Indian companies to check their prices. Our work is entirely based on social justice, justice to nature and service.”
Haridwar-based Patanjali sells over 500 products.
On succession plans at Patanjali, Ramdev said: “This would not be a personal wealth of anyone. This would continue to run on the concept of charity. Last year, when it become debt free, then we said that no shareholder of the company would take dividend from the company.”
He further added: “I have trained many disciples to run it and there would be over hundred Ramdevs.”
Patanjali, which is expecting Rs 5,000 crore (over USD 730 million) turnover this fiscal with 150 per cent growth, is expanding its production facility to meet the demand.
“We are planning to have five times production capacity from the present one by the end of this year. We would start it in next six months,” he said.
Presently 99 per cent production is inhouse, Ramdev added.