New Delhi : Blooming back with a leap stride, the Indian direct selling industry has registered Year-On-Year (YOY) growth of more than 12%, with the gross industry turnover at Rs 21,282 crore in 2022–23, according to an annual survey report released by the Indian Direct Selling Association (IDSA) here on Wednesday.
The survey, compiled by leading market research company KANTAR, released by G. Kamala Vardhan Rao, Chief Executive Officer, Food Safety and Standards Authority of India (FSSAI) in a function here. Shri Rao took this opportunity to congratulate IDSA on releasing this report.
According to the report, there has been a comprehensive improvement in all areas of the direct selling industry and the total sales have increased by Rs 2252 crore compared to the year 2021-22 which was partially marred by the pandemic. The average growth (CAGR) of the direct selling business in the four years from the year 2019-20 to 2022-23 has remained at 8.3 percent.
The Northern region continues to take the lead with 30% of turnover, followed by the East with 25%, West 22%, South 15%, and North East 9%. Maharashtra led at the top with 12%, followed by West Bengal and Uttar Pradesh with 10% each among the states, the survey highlights.
Wellness and nutraceutical products remained the preferred segment, accounting for 73.5% and cosmetics and personal care 11.3% of the gross turnover. The industry has recorded an 8.3% CAGR over four years, with the number of active direct sellers reaching around 86 lakhs, from 84 lakh in 2021–22, the survey says.
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 8.3% is a testament to the fact that direct selling business in the country has made steady growth and is poised to strengthen further in the years to come on the back of a promising regulatory framework by the government for the industry.”
“I am happy to share that with sustained growth, India has improved its ranking by one step to climb to 11th place in 2022 on the global direct selling map, up from 15th in 2019. We are confident that with the growth exhibited by the latest survey, India will break into the top-5 direct selling markets in the globe much sooner than the earlier estimates,” said Mr. Katoch.
“Around 86 lakh direct sellers are actively self-employed in the direct selling industry in India. There has been a staggering growth in this area and the business as well that shows the growing trust and confidence in the direct selling business,” said Mr. Harish Pant, Vice Chairman, IDSA.
On this occasion, about 15 women entrepreneurs who have excelled in the field of direct selling were also honoured.
Aprajita Sarcar, Treasurer, Rajat Banerji, Secretary and senior dignitaries from the member companies, IDSA, were among the other dignitaries present on the occasion.
