Feature
Will invest Rs 100 bn in Nepal in a decade: Ramdev
Kathmandu : Indian yoga guru, Swami Ramdev, on Wednesday inaugurated a Patanjali Ayurved factory in Nepal and announced he will invest over (Indian) Rs 100 billion in a decade in Nepal, to spur production and create thousands of jobs in the Himalayan state.
Ramdev, who is on a week-long visit here that started on Tuesday, also assured that Patanjali will “not take away” the profit made in Nepal, but invest it back.
Patanjali has already started its factory in southern Bara district with an investment of IRs 1.5 billion that was inaugurated on Wednesday jointly by Nepal President Bidhya Devi Bhandari and Ramdev.
The yoga guru said his investment in Nepal would be an incremental one that would ultimately benefit the people of Nepal.
“We will not take away the profit to India that we will make here,” Ramdev announced, adding “We will invest the profit in Nepal in order to spur more production and job opportunity.”
Nepal imports various Patanjali products worth IRs 1 billion yearly from India.
“We want to reduce the dependency and are going to set up more ventures,” he said, accompanied by his aide, Acharya Balkrishan and others.
Ramdev had interacted with office bearers of the Federation of Nepal Chamber of Commerce, an umbrella body of Nepali traders, businessmen and industrialists on Tuesday in Kathmandu.
While giving tips to the Nepali business community, Ramdev, who has millions of followers, advised them to first create a brand in order to sustain business.
“It took me 20 years to create and establish the Patanjali brand, for that I struggled a lot for over the years,” he said.
The Bara unit will produce organic medicines and other products in Nepal, the first of its kind after India.
By using the local raw materials, the Patanjali Aryuved Udhog Gram aims to create a healthy, prosperous Nepal, he said.
Ramdev also called for political stability that alone he said can sustain an environment to do business.
The new Patanjali venture in Nepal would produce over 55 items initially and then gradually increase both volume of production and items.
Ramdev is also to conduct yoga session in Birgunj.
President Bhandari, Prime Minister Pushpa Kamal Dahal, President of Nepali Congress Sher Bahadur Deuba, and others were invited to the camp.
Over 10,000 yoga trainers from Nepal and India assembled in Birgunj and have been preparing for a month for the event to be inaugurated by Bhandari.
Ramdev, who has created a business empire through various Aryuveda products, has over hundreds of outlets in Nepal that sell its products, which are widely popular.
Ramdev is also to meet Prime Minister Dahal, some ministers and members of the Nepali business community.
He would also travel to various Nepal districts exploring more business opportunities, he said.
The State Scores Extra High on Gaming-Friendly Industry Index
Meghalaya scored 92.85 out of 100 possible points in a Gaming Industry Index and proved to be India’s most gaming-friendly state following its recent profound legislation changes over the field allowing land-based and online gaming, including games of chance, under a licensing regime.
The index by the UK India Business Council (UKIBC) uses a scale of 0 to 100 to measure the level of legalisation on gambling and betting achieved by a state based on the scores over a set of seven different games – lottery, horse racing, betting on sports, poker, rummy, casino and fantasy sports
Starting from February last year, Meghalaya became the third state in India’s northeast to legalise gambling and betting after Sikkim and Nagaland. After consultations with the UKIBC, the state proceeded with the adoption of the Meghalaya Regulation of Gaming Act, 2021 and the nullification of the Meghalaya Prevention of Gambling Act, 1970. Subsequently in December, the Meghalaya Regulation of Gaming Rules, 2021 were notified and came into force.
All for the Tourists
The move to legalise and license various forms of offline and online betting and gambling in Meghalaya is aimed at boosting tourism and creating jobs, and altogether raising taxation revenues for the northeastern state. At the same time, the opportunities to bet and gamble legally will be reserved only for tourists and visitors.
“We came out with a Gaming Act and subsequently framed the Regulation of Gaming Rules, 2021. The government will accordingly issue licenses to operate games of skill and chance, both online and offline,” said James P. K. Sangma, Meghalaya State Law and Taxation Minister speaking in the capital city of Shillong. “But the legalized gambling and gaming will only be for tourists and not residents of Meghalaya,” he continued.
To be allowed to play, tourists and people visiting the state for work or business purposes will have to prove their non-resident status by presenting appropriate documents, in a process similar to a bank KYC (Know Your Customer) procedure.
Meghalaya Reaches Out to a Vast Market
With 140 millions of people in India estimated to bet regularly on sports, and a total of 370 million desi bettors around prominent sporting events, as per data from one of the latest reports by Esse N Videri, Meghalaya is set to reach out and take a piece of a vast market.
Estimates on the financial value of India’s sports betting market, combined across all types of offline channels and online sports and cricket predictions and betting platforms, speak about amounts between $130 and $150 billion (roughly between ₹9.7 and ₹11.5 lakh crore).
Andhra Pradesh, Telangana and Delhi are shown to deliver the highest number of bettors and Meghalaya can count on substantial tourists flow from their betting circles. The sports betting communities of Karnataka, Maharashtra, Uttar Pradesh and Haryana are also not to be underestimated.
Among the sports, cricket is most popular, registering 68 percent of the total bet count analyzed by Esse N Videri. Football takes second position with 11 percent of the bets, followed by betting on FIFA at 7 percent and on eCricket at 5 percent. The last position in the Top 5 of popular sports for betting in India is taken by tennis with 3 percent of the bet count.
Local Citizens will Still have Their Teer Betting
Meghalaya residents will still be permitted to participate in teer betting over arrow-shooting results. Teer is a traditional method of gambling, somewhat similar to a lottery draw, and held under the rules of the Meghalaya Regulation of the Game of Arrow Shooting and the Sale of Teer Tickets Act, 2018.
Teer includes bettors wagering on the number of arrows that reach the target which is placed about 50 meters away from a team of 20 archers positioned in a semicircle.
The archers shoot volleys of arrows at the target for ten minutes, and players place their bets choosing a number between 0 and 99 trying to guess the last two digits of the number of arrows that successfully pierce the target.
If, for example, the number of hits is 256, anyone who has bet on 56 wins an amount eight times bigger than their wager.
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