Date:13/07/2008 URL: http://www.thehindu.com/2008/07/13/stories/2008071356401900.htm

Business

IDSA seeks State legislative support

Special Correspondent

KOCHI: Indian Direct Selling Association (IDSA), a body governing 16 of the largest direct selling companies in the country, is seeking State legislation for the sector.

IDSA functionaries told reporters here on Thursday that the Indian direct selling industry expected to double its annual revenue by 2012. It is set to grow by one hundred per cent in the next five years, IDSA chairman David Stanley said.

There were more than 1.5 million direct sellers in the country. The gross industry turnover was Rs.2,522 crore, with an annual growth of about ten per cent. An additional turnover of Rs.1500 crore was being contributed from the sale of insurance products, he said.

Association vice-chairman Hemant Singh said the IDSA companies paid over Rs.120 crore as direct taxes and Rs.170 crore as indirect taxes to the government. He termed the allegations regarding tax evasion by direct sellers as ‘baseless.’

Bill Pinckney of Amway International said direct selling had touched the lives of more than four million people.