Updated: Nov 7
India has made significant progress in the global direct selling industry, climbing to the 11th position in the global ranking. According to a report by the World Federation of Direct Selling Association (WFDSA), India recorded sales of $3.23 billion (around Rs 26,852 crore) in 2022. This represents a growth of 5.4% over the previous year's retail sales.
India's direct selling industry has seen remarkable growth in recent years. Over the last three years, it has achieved the highest compound annual Growth Rate (CAGR) of over 13.3% on a constant dollar basis. This growth is a major boost for the Indian retail industry, highlighting the potential for further expansion and success.
In contrast to India's growth, the global direct selling industry experienced a decline of 1.5% in 2022, with total sales reaching $172.89 billion. Despite this overall decline, the United States maintained its top position with direct sales worth $40.52 billion, followed by Korea, Germany, China, Japan, and Malaysia.
The WFDSA report has injected optimism into the Indian direct selling industry, with the potential for India to become one of the top five global markets in the next decade. The recent notification of the Consumer Protection (Direct Selling) Rules 2021 and its subsequent amendment brings stability to the direct selling industry in India, creating an environment that inspires investor confidence and attracts interest from global direct selling companies.
Overall, India's success in the direct selling industry is a testament to its growing influence and potential within the global market. With continued growth and the implementation of robust regulations, India is poised to make further strides in the coming years.