India moves up to 11th position in global direct selling ranking: WFDSA
- IBEF
- August 22, 2023
India has moved up to 11th position in the ranking of top markets of direct sellers, with retail sales of US$ 3.23 billion (around Rs. 26,852 crore) in 2022, global industry body WFDSA said in a report.
Indian direct selling has registered a growth of 5.4% over 2021 retail sales, said the World Federation of Direct Selling Association (WFDSA) report.
On a constant dollar basis, the Indian market attained the highest Compounded Annual Growth Rate (CAGR) of over 13.3% during the last three years, it added. The global direct selling industry reported a decline of 1.5% in 2022 to US$ 172.89 billion.
The top market in the list was the US with US$ 40.52, with a decline of 5% over 2021, it said. It was followed by Korea, Germany, China, Japan and Malaysia.
Indian Direct Selling Association (IDSA) Chairman Mr. Rajat Banerji said: "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."
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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