New Delhi: Amway, the global direct selling giant is all set to make India an export centre for its operations in Middle East and South Asian countries, says a PTI report.
Despite slow growth and due to lack of clarity in regulations, the company has plans to make India its business and operations hub.
As per the company, there is a need for regulations to distinguish genuine direct sellers from sham players and to give a sense of legitimacy to the industry.
Expressing his views, Amway Managing Director & CEO William S Pinckney said: "We need more clarity in the regulations so that the growth level is up. Few years ago, it had a very strong double digit growth which has slowed down and there is a need for a better understanding of legitimate direct selling company. “
In a bid to expand its reach in the country, Amway is planning to set up a Rs 600 crore unit at Nilakottai in Tamil Nadu. Also, the company is mulling to make India a hub for its Middle East and neighbouring countries as Sri Lanka, Bangladesh etc.
"We are looking outside Indian markets, like Sri Lanka, Bangladesh, UAE, Middle East. We think and believe that India can be an export hub to those emerging markets. That could cause us more quickly for look for more investments to support that manufacturing push. We do think that more investments are coming in," Pinckney added.
Further, the company is eyeing a business of Rs 6,000 crore by 2020 said that its Tamil Nadu unit would be operational by end of March next year and would focus on health and beauty products.