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 and foreign Direct Selling companies, making enormous contribution to not only to the overall investment of the country but also at the state level.
Other IDSA representatives like Anshu Budhraja, Vivek Katoch and KPMG partner Rajat Wahi, brought attention of Naidu about the Industry being adversely affected in the state of Andhra Pradesh, where once the business had flourished. However, due to some unfortunate incidents of fraudulent activities in the state, the enforcement agencies have confused Direct Selling with other Financial/Fraudulent Schemes.
Stating that Direct Selling plays a vital role in uplifting and developing skills of individuals, Rajat added that there is a need to enhance the soft skills and entrepreneurship in the state to generate more self-employment and entrepreneurship opportunities, which will lead to economic development in the state.
While discussing about the potential and future prospect of Direct Selling Industry, Banerji said that there is need to emphasize the growth of Industry as the state has a potential to contribute immensely to the overall sales revenue of the industry. He added that the industry holds large potential not only for the economic development, but also social development of the southern region and country as a whole.