New Delhi, May 2: Prime Minister Narendra Modi is scheduled to inaugurate Patanjali Research Institute at Haridwar on Wednesday. Yoga Guru Ramdev’s Patanjali Ayurved Ltd has managed to secure a place for itself in the Indian as well as in markets abroad. Patanjali is a fast growing Fast-moving consumer goods (FMCG) whose net sales for the financial year 2015-16 stood at Rs 5,000 crore. The company aims to steal the march over multinational firms manufacturing consumer products in the near future. Baba Ramdev in one of his statements said that the company will wipe off the MNCs up from the Indian market in next five years “Patanjali agle panch varshon mein in videshi kampaniyon ko moksh de degi,” he said. Also Read - Supreme Court Declines Plea to Stop Patanjali From Using 'Coronil' Name For Its Medicine

The Patanjali Yogpeeth has recently established Patanjali Research Institute to globally establishing the Vedic knowledge of Ayurveda of our Ancient Indian Saints and Sages. Ramdev in one of his tweet mentioned that Prime Minister will visit Uttarakhand to inaugurate Patanjali Research Institute in Haridwar. He said before the inauguration, the Prime Minister will visit the holy Badrinath shrine. Lauding Modi’s efforts to promote swadeshi products, Ramdev said that India is really proud to have a Prime Minister like Narendra Modi who feels blessed being a spiritual person. He said Prime Minister is one of his kind personality, who links Yoga, swadeshi goods, Ayurved to the culture and tradition of the country. Also Read - IPL 13 Title Sponsors: Tata, Jio, Byjus, Unacademy, Patanjali in Race to Bag Rights

On 3rd May PM @narendramodi will inaugurate Patanjali Research Institute at Haridwar pic.twitter.com/txupBPc6MT — Swami Ramdev (@yogrishiramdev) May 1, 2017

About Patanjali Research Foundation:

The Patanjali Research Foundation, a part of Patanjali Yogpeeth was started in August 2010. Patanjali Research Foundation is named after the great Indian sage, Patanjali (circa 900 B.C.) who first compiled the numerous writings on yoga in a way which is relevant and can be understood by people today.

The foundation aims at:

Evaluating indigenous systems of medicine, particularly yoga and ayurveda, so that their physiological effects are studied using present-day scientific methods. Studying the scientific basis for ancient practices used in various areas of life (e.g., farming and architecture) so that these ancient practices can be better understood and hence preserved. While the Foundation largely uses actual scientific studies carried out in laboratories, the aim would also be to review the ancient texts for contemporary reading. The main motive of the foundation is to evaluate the use of home remedies through scientific studies so that these methods of healing may if found suitable, be integrated into contemporary healing practices and hence be preserved.

Patanjali started in 2006 and came up with traditional Ayurvedic potions. After it gained popularity, the company expanded into personal care, home products, cosmetic creams, noodles, and more in last few years. The Patanjali Research Institute has opened with an initial investment of Rs 200 crore in 2006. The Ayurvedic firm made Rs 5,000 crore in revenue in 2015-16 and is eying Rs 1 trillion in the next one decade.

Controversies are nothing new to Patanjali. The Canteen Stores Department (CSD) in April suspended the sale of a batch of Patanjali’s amla juice after it failed the lab test carried out at West Bengal Public Health Laboratory in Kolkata. As per reports, the Defence ministry sources said a show cause notice has been served on the company.