The Economic Times (India) reported that Amway, India’s largest direct selling firm, has announced its intention of reaching a billion dollars in the Indian market by 2020. William Pinckney, Amway India’s Managing Director and CEO, said the company’s plans to build a manufacturing plant in India won’t displace the seven contract manufacturers currently in use. The production output of the contractors and the new plant will meet demand within India and also for Amway’s global operations. In addition to the new plant, Amway has plans to staff a new R&D center in India and will hire 25-30 research scientists.
Amway represents about 44 percent of the direct selling market in India, which is reportedly on track to grow 20 percent in 2012-2013.
To read the full article in The Economic Times, click here.
