Patanjali to sign MoU with Uttarakhand government to open 670 outlets
today Dec 7, 2018
Patanjali plans to open 670 retail outlets in rural areas in Uttarakhand and will sign a memorandum of understanding (MoU) with the government of Uttarakhand expected in early 2019.
On December 6 in Dehradun, the government of Uttarakhand announced that it will sign a MoU with Patanjali which is expected to be finalised in January, as reported by TNN. The MoU will cover Patanjali’s head Baba Ramdev’s pledge to open 670 stores in hilly and rural areas of the state and the creation of employment opportunities there.
The MoU is designed to benefit the state’s rural consumers by upping the number of stores in hard-to-reach areas and benefit workers through the creation of jobs. “It is an extremely positive project, which is aimed at benefitting all stakeholders,” Dhan Singh Rawa, the minister of state for co-operatives, told the Times of India. “The products will be sold at a discount of 5% to the consumers in the hills.”
The initial plan states that 95 stores will be built in phase one, 200 in phase two, and the remainder in phase three. The Patanjali stores will be operated by primary agricultural credit societies (PACS).
“Apart from the discount to consumers, the PACs will get 10% of the sale, retailers will get 2 % of the profit and 1% will go to the body governing the project, like the district or co-operative societies,” explained Rawa. “In addition, Patanjali will be providing an insurance of Rs 5 lakh to the employees.”
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