Tag Archive for FICCI

Hot Business News Today

Direct Selling Business Critical For India’s growth

by  •  • 0 Comments

 
The Indian direct selling industry has an advocate in the Department of Industrial Policy and Promotion (DIPP) of the Ministry of Commerce. Speaking at an event about Direct Selling, Amitabh Kant, Secretary (DIPP) said that said that the Direct Selling industry is a critical part of India’s growth story as it contributes to employment, entrepreneurship, growth of MSMEs, and most importantly women empowerment, according to a press release by the Confederation of All India Traders (CAIT).
Speaking at an event about direct selling – the marketing and selling of products directly to consumers away from a fixed retail location, by industry body (Ficci), Kant said the industry had enormous growth potential.

“Direct Selling business is a part of Make in India. It should not be equated with fraudulent financial schemes and should gain government recognition

Read more...

Hot Business News Today

India’s Direct Selling Industry To Reach $9.6 Billion By 2025

by  •  • 0 Comments

 
India’s department of industrial policy and promotion is pushing for implementation of guidelines for direct selling industry, which is slated to touch Rs 645 billion (approximately USD 9.6 billion) by 2025, according to a report by FICCI and KPMG. 
According to a statement, Amitabh Kant, Secretary, DIPP at the Ministry of Commerce and Industry, said that direct selling will have to be given a greater thrust as it empowers women, MSMEs and promotes manufacturing in India. Kant was speaking at FICCI Direct 2015, an annual event for the direct selling industry. 
Kant said the industry has a potential to even grow beyond the projected level to Rs 1000 billion by 2025. 
The direct selling industry, which includes companies like Amway, Oriflame, Tupperware, among others, has been seeking clarity in definition and a regulatory framework for

Read more...

Hot Business News Today

IDSA Meets AP Chief Minister To Discuss Direct Selling Legislation

by  •  • 0 Comments

 
Indian Direct Selling Association along with Industry Chamber FICCI met Andhra Pradesh Chief Minister N. Chandrababu Naidu to discuss issues the Direct Selling Industry is facing in the state.
The meeting, held in Andhra Pradesh Bhawan in New Delhi, was attended by Rajat Banerji, Chairman, Indian Direct Selling Association along with Shilpa Gupta, Head- Retail, FMCG and Gems & Jewellery Division in FICCI.
Rajat Banerji, Chairman, IDSA shared with Naidu the industry statistics highlighting that the Indian Direct Selling market is a INR 74 billion (2013-14) and has been recording double digit growth of more than 16 percent over the past four years, but was de-growing by 12% in the twin states of AP/Telangana due to lack of regulatory clarification. He also added that growing Indian market has attracted a large number of Indian

Read more...

Hot Business News Today

Indian Direct Selling Contributes USD 157 Million To Govt In Taxes

by  •  • 0 Comments

 
There is a need to facilitate clear understanding of the concept of direct selling to give its due place, according to Bejon Kumar Mishra, Consumer Policy Expert and Founder of Consumer Online Foundation, New Delhi.
Speaking at a seminar on direct selling on impact on the livelihood of micro entrepreneurs organised by the The Federation of Indian Chambers of Commerce and Industry (FICCI) in the southern Indian city of Hyderabd on Monday, Mishra said direct selling should be understood in the way its should be.
Referring to consumer protection, he said despite many laws, the consumer is left with no protection in reality and there was lot of confusion on nature of laws.
Rajat Banerji, Chairman, FICCI Direct Selling Committee said direct selling was the oldest form of sale in the world. “It was not actually

Read more...

Hot Business News Today

India’s Chamber of Commerce Seeks MLM Legislation

by  •  • 0 Comments

 
Sensing the need to regularise direct selling, the Federation of Indian Chamber of Commerce and Industry (FICCI) has urged the government to provide clarity. Shilpa Gupta, Head – Retail, FMCG, Luxury Gems & Jewellery, Direct Selling, FICCI, shares her views about the potential of this multi-level marketing model and the steps to regularise it. 
How do you assess Direct Selling in India?
Direct selling is not new to India. Around the year 1995, many companies started with it; Amway was one of them. But the misfortune is that we only understand direct selling on the basis of one or two companies. In fact, there are so many companies in India today that are following this business model. In India, Direct Selling is a very old model of sales. For example, a cycle rickshaw peddler

Read more...