Amway Chief Executive Officer Milind Pant spoke with CNBC-TV18, a leading business news channel in India, about the company’s global outlook, and his investment plan for the Indian market.
In the aftermath of the pandemic, Pant described how the company pivoted and used its strengths to serve people. Believing prevention is of utmost importance for health, the company leaned into its organic farming and patents to help its representatives focus on building healthy habits and healthy living practices.
This was a strategic decision, since the global preventative health and wellness market is massive—what Pant described as a $350 billion global opportunity. “We are $8 billion, so we’re just 2%,” he said. In India specifically, he pointed out that 100 million people have been diagnosed with diabetes and 200 million have high blood pressure. Looking to the future, Pant believes Amway can play a progressively larger role in serving these communities of people.
“We are doubling down on investing in product innovation and science,” Pant said. “We believe that a starting point is gut health. Choosing gut health and microbiome not just for physical health but mental health. We’re also investing in digital technology so that we can have a frictionless, easy experience for our microentrepreneurs and their customers, [and] so they can focus on building these communities.
Amway has had a presence in India for more than two decades, but Pant believes there is much more room for growth and is committed to making long-term investments within the market.
“I’m very bullish,” Pant said about his investment plan for India. “It’s mathematics that India will be a $25 trillion economy by 2035, which is the size of the U.S. economy today. There are many tailwinds in India’s favor. It’s got a youthful economy and society; they’re entrepreneurial; it’s investing in digital infrastructure and physical infrastructure. There’s a geo-strategic sweet spot for India and a confluence of all these regions, I see India [having] decades of growth.”