'Direct Selling Industry Could Generate 10 Mn Entrepreneurs By 2020' | CORPORATE ETHOS

‘Direct Selling Industry Could Generate 10 Mn Entrepreneurs By 2020’

By: | August 1, 2018
Direct Selling
Aug 1: The implementation of revised guidelines for direct selling industry can help generate 10 million new entrepreneurs in the country by 2020, according to Vijay Sardana, Chairman of ASSOCHAM Task Force on Direct Selling, according to Vijay Sardana, Chairman of ASSOCHAM Task Force on Direct Selling.He was speaking at an ‘ASSOCHAM Regional Conference on Promoting Direct Selling for Developing Entrepreneurship and Job Creation held recently.
“The Associated Chambers of Commerce and Industry of India (ASSOCHAM) would soon undertake a comprehensive research on the best operational model suited with the current policies for direct selling industry in Karnataka together with the real challenges being faced by the sector and share it with the state government to enable it to take effective steps,” said Mr Vijay Sardana.He added that India has 50 per cent of the world’s youth population and direct selling has a great potential to create jobs and self-employment.
The Model Framework for Guidelines on Direct Selling were issued by the Union Consumer Affairs Ministry in September 2016. The notification of these guidelines was a significant milestone towards clarifying the Government’s stance on direct selling industry and regularise the same. While seven states – Chhattisgarh, Sikkim, Telangana, Andhra Pradesh, Odisha and West Bengal – have adopted the Centre’s guidelines, other states like Karnataka are expected to soon follow suit.
In his address at the ASSOCHAM conference, Mr Zaheer K Merchant, Director – Corporate Affairs, QI Group said, “India has embarked on a key step forward with framing guidelines and legislation being formed or reformed, and undertakings of such nature particularly when supported by the State Government of Karnataka are admirable. We simply need robust guidelines, infrastructure and their proper implementation for a professional and ethical industry.”
Mr Merchant who is also member of the Direct Selling Association of Singapore added that as per the data issued by the World Federation of Direct Selling Associations (WFDSA) the global direct selling industry reported revenue of US$189.6 billion (bn) for 2017 with approximately 117 million (mn) sales distributors involved world-wide out of which 74 per cent were women. While India contributed US$1.5 bn, the industry provided self-employment opportunity to 5.1 mn people in the country.