According to the World Federation of Direct Selling Association (WFDSA) report, as global retail sales declined by 1.5% to $172.89 billion in 2022, India’s standing surged to the 11th position in the league of leading direct selling markets. The report, quoted by news agency PTI, highlights India’s retail sales at $3.23 billion (approximately ₹26,852 crore) for 2022, exhibiting a growth of 5.4% over the previous year. Notably, over the past three years, India has demonstrated the highest Compound Annual Growth Rate (CAGR) at over 13.3% on a constant dollar basis.
The WFDSA report underscores a global retail sales decline of 1.5%, resulting in a total of $172.89 billion for 2022. The United States retains its position as a dominant retail seller, despite witnessing a 5% decrease in direct sales, amounting to $40.52 billion in contrast to 2021. Other prominent markets among the top categories encompass Korea, Germany, China, Japan, and Malaysia.
With India’s escalating retail sales, the industry’s outlook is imbued with optimism. Rajat Banerji, Chairman of the Indian Direct Selling Association (IDSA), is confident that India will soon ascend to the top five global markets for direct selling. He asserts, “India’s direct selling market is growing steadily and has the potential to place itself in the top five global markets over the next decade.”
The IDSA functions as an autonomous, self-regulating entity for India’s direct selling sector, liaising between the industry and governmental policy-making bodies to advance the cause of the local Direct Selling Industry.
Banerji emphasizes that the introduction of the Consumer Protection (Direct Selling) Rules 2021 is poised to enhance stability within India’s direct selling industry, foster investor confidence, and attract global direct sellers to invest in India. He adds, “Currently, only three among the top ten sellers are in India, and we aspire to host all of them establishing their businesses here.”
