Thursday, Mar 13, 2003
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By Our Corporate Reporter
The legislation should be aimed at protecting the interests of consumers as well as of legitimate companies, according to Sanker Parameswaran, director, (corporate and legal affairs), Amway India Enterprises, the founder member of IDSA. In an informal chat with this correspondent he said the draft legislation, prepared by the IDSA based on the existing legislations in other countries keeping the best interests of concerned in mind, was with the Ministry of Consumer Affairs. "The direct selling industry which has grown from Rs.300 crores in 1996 to Rs. 2,000 crores with more than 11 lakh distributors (known as independent business owners), needs a separate legislation for its healthy growth", Mr. Parameswaran said. On the future plans of Amway, he said the company would focus on healthcare and beauty products. With the accordance of infrastructure status for healthcare industry in the recent Union Budget, healthcare products would be in great demand, he said. With a few multinational FMCGs (fast moving consumer goods) planning to push their products through the direct selling route, the Indian market would see a lot of activities in future, he said.
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