The report indicated that with the right policy stimulus, this industry might well reach its potential of Rs. 64,500 crores, a nine-fold increase in twelve years.
Paswan released this report along with Keshav Desiraju, Secretary Consumer Affairs, Sidharth Birla – President of FICCI, Kurush Grant ED of ITC, as well as other industry representatives.
The FICCI conference was attended by a number of India and global industry dignitaries and other stakeholders.
Direct selling is a global industry, operating in over 100 countries with a market size of USD $167 billion. It refers to the selling of goods and services to the consumers away from a fixed retail outlet, generally in their homes, workplace etc., through explanation and demonstration of the product by direct sellers. USA, Japan and China are key markets for the industry.
In India the market is estimated to be around Rs. 7,200 crores, which is a far smaller percentage of the size of the economy, when compared to other countries. The FICCI-KPMG white paper launched highlights the challenges faced by the industry in India, and suggests a roadmap for enabling the industry going forward.
At the release, the Union Minister said, “I acknowledge the contribution of Direct Selling industry towards offering greater