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IDSA-FICCI delegation meets Naidu to seek support for DSI

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Hyderabad | Wednesday, Nov 4 2015 IST
 
Indian Direct Selling Association (IDSA) along with Industry Chamber FICCI met Andhra Pradesh Chief Minister,N. Chandrababu Naidu here today to discuss issues relating to Direct Selling Industry(DSI) in Andhra Pradesh.

The meeting was attended by Rajat Banerji, Chairman, Indian Direct Selling Association along with Ms. Shilpa Gupta, Head- Retail, FMCG and Gems & Jewellery Division in FICCI.

During the interaction Mr Banerji, highlighted that the Indian Direct Selling market was Rs 74 billion (2013-14) and has been recording double digit growth of more than 16 percent over the past four years, but was reduced to 12 per cent in the twin states of AP and Telangana due to lack of regulatory clarification.

He also added that growing Indian market has attracted a large number of Indian and foreign Direct Selling companies, making enormous contribution to not only to the overall investment of the country but also at the state level.

The IDSA representatives like Anshu Budhraja, Vivek Katoch and KPMG partner Rajat Wahi, brought attention of Mr Naidu about the Industry being adversely affected in Andhra Pradesh, where once the business had flourished. However, due to some unfortunate incidents of fraudulent activities in the state, the enforcement agencies have confused Direct Selling with other Financial/Fraudulent Schemes.

Stating that Direct Selling plays a vital role in uplifting and developing skills of individuals, Mr Rajat said t here is a need to enhance the soft skills and entrepreneurship in the state to generate more self-employment and entrepreneurship opportunities, which will lead to economic development in the state.

While discussing about the potential and future prospect of Direct Selling Industry, Mr. Banerji said, there is a need to emphasise the growth of Industry as the state has a potential to contribute immensely to the overall sales revenue of the industry. The industry holds large potential not only for the economic development, but also social development of the southern region and country as a whole, he added.UNI VV KVV AK 1910

-- (UNI) -- C-1-1-DL0415-421792.Xml

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