New Delhi [India], March 27 (ANI): Women direct sellers rise from 37 per cent to 44 per cent of the total direct selling force, according to a survey.
The Northern region leads with a nearly 30 per cent share in gross sales, followed by the East at 24.2 per cent. Wellness products top all segments, with cosmetics and personal care in second place. Maharashtra shares the highest with 13 per cent in gross sales among all states.
Marching ahead with sustained growth, India’s direct selling industry has achieved an all-time high with a turnover of Rs 22,142 crores in FY 2023-24, marking a 4.4 per cent year-on-year (YOY) growth from Rs 21,282 crore in the previous fiscal year, according to an Annual Survey Report released by the Indian Direct Selling Association (IDSA) here on Tuesday.
The survey, conducted by IPSOS, the knowledge partner of the IDSA, an apex association of direct selling industry in India, was unveiled by Chirag Paswan, Union Minister for Food Processing Industry, during an event highlighting the growth of the direct selling sector and sustained expansion, with a CAGR of 7.15 per cent over the past five years, growing from Rs 16,800 crore in FY 2019-20 to Rs 22,142 crore in FY 2023-24.
The Country’s northern region leads with 29.8 per cent of gross sales, followed by the East (24.2 per cent), West (22.4 per cent), South (15.3 per cent), and Northeast (8.3 per cent).
Among states, Maharashtra holds the highest share at 13 per cent, followed by West Bengal (11.3 per cent), Uttar Pradesh (10 per cent), Bihar (6.2 per cent) and Karnataka (5.7 per cent).
Wellness & Nutraceuticals reign supreme, accounting for a staggering 64.15 per cent of total sales, while Cosmetics & Personal Care contribute 23.75 per cent and Household Goods 3.1 per cent. Together, these three segments drive a remarkable 91 per cent of all direct sales, according to the survey.
The report indicates a significant increase in the number of active direct sellers, rising to 88 lakh from 86 lakh in the previous year. Notably, women now constitute 44 per cent of the total direct seller workforce, up from 37 per cent in FY 2022-23, showcasing the growing role of women entrepreneurs in the industry.
Paswan, while addressing the gathering on the occasion, lauded the direct selling industry for its significant role in providing self-employment opportunities, aligning seamlessly with the government’s vision of more job creation.
Emphasising the importance of high product quality, he reaffirmed the government’s commitment to fostering a business-friendly environment through its various strategic initiatives.
He encouraged the industry to adopt good manufacturing practices and capitalize opportunities for sustainable growth. Furthermore, he assured the industry’s stakeholders of his department’s unwavering support, pledging to address concerns regarding the nutraceutical segment and streamline loan processes to help direct selling businesses thrive.
Vivek Katoch, Chairperson, IDSA, said, “The report showcases an encouraging trend for the direct selling industry in the country. The growth trajectory of the industry has been on a surge over the years. A CAGR of 7.15 per cent is a testament to the fact that direct selling businesses in the country have made steady growth and are poised to strengthen further in the years to come on the back of a promising regulatory framework by the government for the industry.” (ANI)
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