The Indian direct selling association has assigned new officials for its top designations
Ajay Khanna, Country Head of Herbalife International India has been assigned as the new Chairman of the association.
Head-Corporate Affairs Rajat Banerji for Amway India has been elected as the Vice-Chairman of the IDSA.
In order to get legal sanctity and recognition from both central and state government authorities, the Indian direct sellers like Tupperware, Amway, Oriflame and their association body IDSA might quickly approach the commerce ministry in coming days.
Right now direct selling sector is of Rs 7,000-crore in India with 18 companies who are promoting through direct sales are seeking the clear meaning of “direct sellers” and distinction from multi-level marketing entities, including those dealing in money circulation schemes.
On the other hand, Amway representatives in the United States are preparing to satisfy commerce minister Anand Sharma, who is presently on an official visit to United States.
“We will prepare a strategy paper and approach the commerce ministry soon. Our proposals of own set of strict guidelines for identifying real direct sellers from the rest are being studied by the finance ministry. We are hopeful that something favorable could come out in a month’s time,” Chavi Hemanth, secretary-general of the Indian Direct Selling Association stated.
Nevertheless, government sources showed that both the consumer affairs ministry and the department of financial services are against exclusion of direct selling entities such as Tupperware, Amway and others from the ambit of Reward, Chit Funds and Money Circulation (Banning) Act, 1978. Both are presently examining the link in between illegal profitable schemes, including ponzi schemes, pyramid schemes and those promoted by the multi-level marketing companies.
Sources in the customer affairs ministry are of the view that instead of a main regulator or a main law, these direct selling entities ought to be subjected.
Lately many direct selling companies in India have asked government to look for a framework to regulate direct selling companies. The Direct selling industry projected at Rs 7,120 cr by 2012-13, till date there have not been a clear guidelines for the MLM companies. companies who are part of IDSA are saying that just because of these get rich quick schemes, the name of other good companies have come under questions. Most members have been part of IDSA from past 10-15 years. (more…)
May 09, 2011 11:34 PM |MLM News Blog Editor
Things to know before making money from online surveys firms.
By now someone must have shared that how easily one can make online income by just taking few online surveys, which pays you around Rs.900 a week. There is just one simple requirement to become panelists of these online survey companies and that is joining amount, which varies from company to company, minimum of Rs.3500 to Rs.11000. More money can be made by making other join under you. Not too long many investors lost money is investment plans. Some gullible people were promised that their hard-earned money was being invested into stock market, mutual funds, real estate, high return investment plans. Once the saturation comes in the business, they flew from the market. Rest everyone knows what happens. (more…)