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Reliance announced the launch of its FMCG brand, Independence. The brand will offer a range of products including edible oils, pulses, grains, packaged foods and several other daily need products. In an interview to CNBC-TV18, Sanjeev Asthana of Patanjali spoke at length about what this could mean for another player in the space and what this does to the competitive landscape.

He said demand in rural India has started picking up. “Looking at the rural demand, from a downturn that we faced, it has started picking up again and so to that extent we are pretty okay that we will see this quarter coming better,” Asthana said.

Talking about business, he said the company’s strong categories are honey, chyawanprash, juices, aata (flour) and biscuits. “Our segment of food carries unique products with a strong brand equity, which Patanjali has, like honey, chyawanprash, special herbal juices, aata, biscuits, etc. So we are pretty confident that the space is large,” he said.

He also expects an uptick in revenue and margin for most of the product categories.

Also Read: Patanjali Foods plans to go big on plantations to cut edible oil imports

Patanjali has a group turnover of Rs 40,000 crore. The company’s vision for 2027 is that as a group it expects the turnover to reach Rs 1 lakh crore. It will also list 4 more companies after Patanjali Foods.

Also Read: Patanjali group to have 4 IPOs in the next 5 years announces Baba Ramdev

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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