new Delhi. Baba Ramdev's Patanjali Ayurved is considering a bid to win sponsorship for the upcoming Indian Premier League (IPL). The title sponsorship for the IPL has recently been withdrawn from the Chinese phone company Vivo. The BCCI has withdrawn title sponsorship of IPL 2020 from Vivo due to opposition from China across the country. Patanjali of Haridwar will get a global platform with sponsorship in IPL, as Patanjali plans to export its Ayurvedic FMCG products.
Confirming this, Patanjali spokesperson SK Tijarawala said that we are considering participating in the bid for the title sponsorship of the IPL. It is the perfect platform for globalizing vocals for local and an Indian brand. We are looking into this. However, Tijarawala said that the company has not yet taken a final decision on it.
According to Tijarawala, the BCCI issued instructions for the bid on Monday and invited proposals by August 14. Last week, BCCI and Vivo decided to terminate their partnership for the 2020 IPL. IPL 2020 starts in UAE from 19 September. Following the China-India border dispute in Ladakh, Chinese companies and commodities are protesting in the country.
Title sponsorship is an important part of the IPL's commercial revenue. Vivo won the IPL title sponsorship for five years in 2018 for Rs 2190 crore. Patanjali Ayurved Group has an estimated turnover of Rs 10,500 crore. The company recently acquired Ruchi Soya for Rs 4350 crore. The revenue of Patanjali Ayurved in the financial year 2018-19 was Rs 8329 crore.
This post was published on August 10, 2020 3:10 pm
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