- 'The increase in the GST rate is quite disappointing,' says SK Tijarawala
- At present, the ayurvedic products have a total tax incidence of 8-9%
- Ayurvedic products are becoming more popular in the FMCG segment
Targeting to achieve a turnover of Rs 1 lakh crore in the next five years, Patanjali Ayurved is now looking at a 10-fold jump in sales in the next five years. Earlier this month, Ramdev said that Patanjali Ayurved will wipe out the multinational companies (MNCs) in a span of five years. He also stated that the MNCs entered the country with a purpose to "loot".
The move to increase tax rate on such items might contradict the government's efforts to promote traditional Indian alternative medicine.
With ayurvedic products becoming popular in the fast-moving consumer goods (FMCG) segment, even Hindustan Unilever has been preparing to enter the segment with a new range of products under Lever Ayush brand.
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