India Ranked 11th in Global Direct Selling with 5.4% Growth Rate
While the global industry is expected to shrink by 1.5% to $172.89 billion in 2022, India's direct selling sector is expected to grow by 5.4% over 2021 retail sales According to a WFDSA report, India has risen to 11th place in the ranking of top direct selling markets, with retail sales of $3.23 billion (approximately Rs 26,852 crore) in 2022. In the last three years, the Indian market has achieved the highest compound annual growth rate of more than 13.3%, according to the report.
The United States was the top market on the list, with $40.52 billion, a 5% decrease from 2021. Germany, China, Japan, and Malaysia followed Korea. According to Rajat Banerji, chairman of the Indian Direct Selling Association (IDSA), "India's direct selling market is steadily growing and has the potential to place itself in the top five global markets over the next decade."
With the publication of the Consumer Protection (Direct Selling) Rules 2021 and subsequent amendments, the Indian direct selling industry should see stability, which may inspire investor confidence as well as interest from large global direct selling companies, he added. "Only three of the top ten (sellers) are currently in India, and we would like to see them all start their businesses in India," Rajat added.