Times of India reports:
Direct selling major Amway plans to make India an export hub for its operations in Middle East and South Asian countries, even as its business growth here has slowed down due to lack of clarity for applicable regulations.
The company also said there is an urgent need for detailed regulations to distinguish genuine direct sellers from sham players and to give a sense of legitimacy to the industry.
“We need more clarity in the regulations so that the growth level is up. Few years ago, it had a very strong double digit growth which has slowed down and there is a need for a better understanding of legitimate direct selling company,” Amway managing director & CEO William S Pinckney told PTI.
Amway, which is setting up Rs 600 crore unit at Nilakottai in Tamil Nadu is also looking for further expansion along with additional plant as the company is mulling to make India a hub for its Middle East and neighbouring countries as Sri Lanka, Bangladesh etc.
“We are looking outside Indian markets, like Sri Lanka, Bangladesh, UAE, Middle East. We think and believe that India can be an export hub to those market. That could cause us more quickly for look for more investments