New Delhi, Jan 11: French company Moet Hennessy- Louis Vuitton, which manufactures ultra-premium accessories and apparels for men and women, has expressed interest in investing a whopping $500 million in yoga guru Baba Ramdev‘s Patanjali Ayurveda.
Patanjali spokesperson SK Gupta Tijarawala informed on Thursday on Twitter that Acharya Balkrishna said that foreign funds and technology will be used benefit India.
“Acharya Balkrishna has said that just as we use foreign technology 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 condition, we will not give share/stake,” he wrote on Twitter.
However, L Catteron, a company co-owned by LVHM, will spend its Asia budget of Rs 3,185 crore to buy a stake in Patanjali. It is unlikely that Baba Ramdev will go ahead with the deal as he has positioned his company’s products as ‘swadesi’. He had been vocal against multi-national companies taking India’s money abroad.