Hyderabad: India’s Direct Selling Industry has witnessed a Compounded Annual Growth Rate (CAGR) of approximately 16% and grown from Rs 8,308 crore in 2015-16 to Rs 13,080 crore in 2018-19, according to an Annual Survey released by Indian Direct Selling Association (IDSA) here in the city today.
To highlight the findings of the Survey with focus on regional contribution, IDSA, IDSA is an autonomous, self-regulatory body for the direct selling industry in India, today organized a day-long Symposium on Annual Survey 2018-19 for Direct Selling in India.
The Symposium highlighted the contribution of the Southern Region especially Telangana to the growth of India’s Direct Sales.
The Association acts as an interface between the industry and policy-making bodies of the Government facilitating the cause of Direct Selling Industry in India. The Symposium was attended by officials from Telangana, experts, representatives from Industry chambers and direct selling industry.
V Prakash Rao, Chairman, Telangana Water Resources Development Corporation, inaugurated the Symposium He also unveiled Annual Survey report.
The highlights of survey findings are the global direct selling industry stood at around US $ 192.9 billion in 2018 showcasing a growth of 1.2% from the industry value US $ 190.5 in 2017. The Indian Direct Selling Industry’s contribution to the exchequer stood at around 25000 crores in 2018-2019. North India contributed 27% and West India 25%.
Addressing the gathering V. Prakash said TRS party included Direct Selling in its Manifesto in 2014. “Our Chief Minister is positive about Direct Selling industry and the potential in the state.
Telangana is the first state in the country to implement Guidelines brought out by the Central Government on Direct Selling,” he informed.
The Symposium was addressed by Rini Sanyal, Chairperson, IDSA, Rajat Banerji, Vice Chairman, IDSA, and Hem Pande, Advisor, IDSA.
Delegates and participants recognised that the direct selling industry has been playing a significant role in the in the state economy and can expand its contribution with the support of the government. The state needs to provide new momentum to the direct selling industry which significantly contributes to socio-economic development of the State.
Addressing the Symposium, Rini Sanyal, Chairperson, IDSA underlined the significant contribution of the Southern region.
“Southern region comprising of Karnataka, Tamil Nadu, Telangana, Andhra Pradesh and others contributed 19% of the direct selling sales in the country in 2018-19.
Our Survey reveals that Telangana and Andhra Pradesh contributed 12% and 10% respectively of the Southern region direct selling sales. Telangana ranks third in the region and offers huge potential for direct selling. The state would benefit enormously with the growth of the industry here,” she added.
The event also highlighted New India Aspirations and contributions of Direct Selling with recent developments and trends such as use of efficient use of Technology, introduction of new products, and usage of social media and enhanced confidence of direct selling industry & Consumers with new Model Guidelines of the Centre and other policy reforms, adoption of Guidelines by 13 states.
The Symposium was preceded by ‘DirecTalk’ on Direct Selling in the era of social networking and panellists included Pushkar Raj Thakur- Master of Leadership Psychology, Deepak Bajaj, Author, High Performance Coach & Motivation Speaker, Divya Verma, COO, Tegonity.Com, Harsh Vardhan Jai, Network Marketing specialist, and experts from the industry. Panellists and experts engaged in a very meaningful dialogue with regards to the role of social networking in providing new momentum to direct selling in India.
Policymakers, experts and panelists believed that Direct Selling sector has been able to successfully grow as more and more people are taking up Direct Selling as an alternate career.
Along with the challenges, delegates discussed recent trends such as the efficient use of social media, Technology, Policy Reforms, and introduction of new products.
They said that with the increase in adoption of innovative technologies and increasing impact of social networking the industry has been targeting the age group of 25-44 years. With such innovative measures, Direct Selling entities have been able to make efficient use of social networking to attract and retain their Direct Sellers.
The event also provided insights on the leading players operating in India, their contributions and key strategies adopted by them. (INN)