The Direct Selling Industry in West Bengal has breached the INR 1800 crore mark to touch Rs. 1868.9 Crores, for the first time in FY 2019-20, according to the Annual Survey 2019-20 for Direct Selling in India, commissioned and released by the Indian Direct Selling Association (IDSA).
West Bengal is not only one of the largest Direct Selling markets pan India but also one of the fastest growing markets for any region in India accounting for 11.4% of gross national direct selling turnover. West Bengal is now placed closely behind Maharashtra to be the second biggest market for Direct Selling industry in India. At the same time, India’s Eastern region also fared very well, accounting for 26% for the Gross National Direct Selling Turnover. Furthermore, the Direct Selling Industry in West Bengal has contributed in excess of Rs. 280 Crores in taxes to the state exchequer, which is over and above direct income taxation earned from individual direct sellers and distributors of IDSA member companies. Currently, West Bengal has a base of 490,000 active direct sellers working with various Direct Selling companies in the state.
While addressing the media, Ms. Rini Sanyal, Chairperson, IDSA said, “The State has always been an exciting place for doing business and that is amply reflected in the excellent business and financial results that the industry and member companies of IDSA has received. We are extremely confident that despite the onslaught of a devastating pandemic that has ravaged humanity globally and in India, the Direct Selling Industry of India will outperform market expectations for the Fiscal Years of 2020-21 and 2021-22. We expect that in spite of 2 extreme and long lockdowns, there will be moderate to strong growth in West Bengal and the entire Eastern Range.
Mr. Rajat Banerji, Vice Chairman- IDSA, while expressing gratitude to the government, said “We would like to thank Smt Mamata Banerjee, Hon’ble Chief Minister, Government of West Bengal and the Departments of Industries, MSMEs and Consumer Affairs for their continued support to the Direct Selling Industry, which in turn enhances the spirit of entrepreneurship among our Direct Sellers, Member Distributors and our respective supply chains. “
IDSA is confident that the FYs of 2020-21 and 2021-22 will produce exciting and encouraging results. The Direct Selling industry has been providing sustainable self-employment and start-up opportunities to millions of people in the country including the state of West Bengal and for the Eastern Region. Direct Selling has also become a significant source of income, especially for the youth and women in the state.
Chetan Bhardwaj, General Manager, IDSA made a detailed presentation on various aspects of the Direct Selling industry and expressed gratitude to the West Bengal Government’s Department of Consumer Affairs for early adoption of the Direct Selling guidelines which it notified on 6th July 2018 with the objective to regulate the business of Direct Selling and to protect legitimate rights and interest of consumers.
We at IDSA would continue to contribute and provide subject matter expertise, data and pre-requisite information to the Department of Consumer Affairs, as and when required so as to strengthen the regulatory mechanism of Direct Selling business in West Bengal,” Mr. Chetan Bhardwaj added.
The Indian Direct Selling Association IDSA is an autonomous, self-regulatory body for the direct selling industry in India. The Association acts as an interface between the industry and policy-making bodies of the Government facilitating the cause of the Direct Selling Industry in India. IDSA strives to create and further an environment conducive to the growth of the direct selling industry in India, partnering industry and government alike through advisory and consultative activities. IDSA catalyses change by working closely with the government on policy issues, enhancing efficiency and ushering in desired credibility, clarity & confidence in Direct Selling.