BANGALORE: Indian Direct Selling Association (IDSA) chairman Manoj Shirodkar has announced the company's annual survey findings 2004 in Bangalore today.
IDSA is the a regulatory and promoting body for the direct selling industry in the country.
IDSA revealed that the total turnover of member companies stood at Rs.13.81 billion for the year 2004-05. This meant a growth of around 30 per cent over last year’s revenues of Rs.10.54 billion. Life Insurance contributed Rs.2.55 billion to this growth and seems to be the prominent growth driver. IDSA forecasts an exponential sales growth of about 10 times over the next 10 years. IDSA estimates the turnover of non-IDSA companies as around Rs.10.64 billion.
The findings also revealed that the sales force of the direct selling industry (both IDSA and non-IDSA) grew to about 1.3 million in India, up from last year’s 1.2 million and that since 1995 around 3 million persons have tried their hand at direct selling. Almost 750,000 sales persons are currently active in the business, buying or selling at least once in two months and 60% of this sales force comprises of women. The number of products increased by 30 to 380 with 2100 variants in 2004.
40 towns and cities were added last year and direct selling now reaches 2200 towns and 50 cities (metros and mini-metros) with over 1700 town and cities being serviced by courier companies.
IDSA is the Indian counterpart of the Washington, USA based World Federation of Direct Selling Associations (WFDSA) which self-regulates direct selling in 58 countries. Direct selling companies hold patents for 764 products world wide as per IDSA.
IDSA comprises of (a) 14 active members –Altos Enterprises, AMC cookware, Amway India, Avon Beauty Products, Daehsan Trading (India), Direct Educational Technologies, Forever Living (HNB) Hindustan Lever Network, Herballife International, Modicare, Oriflame, Quantum International, Sunrider India, Tupperware India (b) two probationary members Max New York Life Insurance Company and Shriram Direct to Home and (c) associate member PS Press, New Delhi.
