India to soon be among top 3 global markets: Amway
Amway, a leading direct-selling company, anticipates that India will rise to be one of its top three global markets within the next five years. This projection was revealed by Rajneesh Chopra, the firm's Country Managing Director, in a conversation with PTI. The company has recently invested $4 million (around ₹35 crore) in establishing four new research and development (R&D) centers across India.
New approach and customer base expansion
Chopra highlighted that Amway is shifting its focus from purely financial objectives to transforming lives. The company currently has over 550,000 active distributors and more than two million customers in India. "Our goal is that two million moves up to five million over the course of the next five years," Chopra stated, emphasizing their commitment toward enhancing people's lives through their products and services.
Top markets and India's potential
Currently, the top three global markets for Amway are China, the US, and South Korea. Despite India currently ranking among the top 10, Chopra is optimistic about its potential to break into the top three within five years. He also expressed confidence in the Indian market's potential due to prevalent lifestyle diseases and nutritional deficiencies among the population.
Investment in R&D centers in India
Amway has invested heavily in four new research and development centers located in Gurugram, Chennai, Bengaluru, and Dindigul (Tamil Nadu). These labs are equipped to develop product solutions across various sectors including foods, oral solids, beauty and personal care. "India stands as one of our top priority markets globally," Chopra affirmed.
Commitment to 'Make in India' initiative
Amway India is actively participating in the government's 'Make in India' initiative by exporting products to countries like Thailand, Indonesia, Vietnam, Philippines, and South Africa. "We are committed to ensure that we continue to put India's footprint as much as we can without losing focus on what is true for India," Chopra stated. This move aligns with their global expansion strategy while also contributing to local economic growth.
