India’s direct selling industry to grow 10% in FY21

India’s direct selling industry is likely to have grown around 10 per cent in the Covid-hit FY21, according to industry stakeholders.

Indian Direct Selling Association (IDSA) Vice President, Rajat Banerji, said that in the first six months of FY 2020-21, the direct selling industry in India registered a growth of 4.7 per cent over the corresponding period in FY 2019-20.

Building on the same trend, it can be safely assumed that direct selling industry should be able to register a growth in excess of 10 per cent during the FY 2020-21, he said, adding that clarity will come only when the official numbers are released.

As per a survey by the industry body in the Q1 of FY 2020-21, the industry was able to register a growth of 0.90 per cent.

While the first quarter of FY 2020-21 was largely impacted by the different phases of lockdowns, despite of all the challenges, the industry was able to register a minuscule growth, it showed.

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