The Indian direct selling industry has recorded sales of $2.47 billion in 2019, reporting a growth of 12.1 percent, a report by World Federation of Direct Selling Associations (WFDSA) said. This has helped the direct selling industry improve its ranking to the 15th from the earlier 19th a year before, said The Global Direct Selling - 2019 Retail Sales report by Washington-based WFDSA.
Moreover, in terms of the number of direct sellers, India has been ranked at sixth position, proving employment to 57.50 lakh people.
However, the global direct selling industry has reported an overall decline of 4.3 percent in sales to $180.47 billion in 2019.
According to the report, the US is leading in the list contributing 20 percent of the global direct selling industry with sales of USD 35.21 billion, though it has registered a marginal de-growth of 0.4 percent. It is followed by China with 13 percent contribution, Korea and Germany with 10 percent each and 9 percent by Japan.
Terming it as a good sign for the industry, Indian Direct Selling Association (IDSA) said it now hopes to find space in the top five players globally much earlier than the previous estimates of a decade.
India recorded the highest year-on-year growth and CAGR over three years, in top 20 Direct Selling markets around the world, the association said in a statement.
"India has recorded the highest year on year growth rate of 12.1 percent and the highest CAGR of 16.3 percent over the period of last three years, amongst the top 20 direct selling markets across the globe," IDSA Chairperson Rini Sanyal said.
According to a latest joint report by IDSA and data insight firm Kantar, the Indian direct selling industry has witnessed a Compounded Annual Growth Rate (CAGR) of approximately 16 percent and grown from Rs 8,308 crore in 2015-16 to Rs Rs 13,080 crore in 2018-19.
In this, wellness tops the chart of leading segments in Direct Selling followed by cosmetics and personal care. The Indian Direct Selling Industry's contribution to the exchequer stood at around Rs 2,500 crore in 2018-19, said the IDSA report.
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