Over 34 thousand women propel Direct Selling in Karnataka to grow at 9%, reaches Rs 1128 cr. mark.
-Karnataka, with sales of Rs 1128 crore, tops the Direct Selling market in the Southern region -Karnataka registers over 9.09 percent YOY growth. -Karnataka has a share of 5.9% in the national turnover of Rs 19,030 crore. -Karnataka has 78 thousand direct sellers. Of these, 34 thousand are women. -Karnataka contributes nearly Rs 170 crore towards GST.
Bengaluru, July 18, 2023: Over 34 thousand strong women entrepreneurs of Karnataka have propelled the direct selling industry in the State, as per the Annual Survey Report released by the Indian Direct Selling Association (IDSA) here on Tuesday. Providing self-employment to 78 thousand entrepreneurs in the State, Karnataka continues to be the top market in Direct Selling business in the Southern region, reaching over Rs 1128 crore during the financial year 2021-22, Survey Report says. The survey, carried out by IPSOS Strategy 3, shows a sales increase of Rs 94 crores, with more than 9,09 percent growth over the previous FY figure of Rs 1034 crores, indicating that despite the year being partially marred and impacted by the COVID-19 second wave, the direct selling industry could manage to emerge stronger and maintain its growth momentum in the state.
During the period, the state also contributed nearly Rs 170 crore to the exchequer by way of taxes. The sector, however, remained static in terms of the number of direct sellers, at 78 thousand, with 34 thousand of them women. The state had a share of over 5.90% of the overall national sales, which stood at over Rs 19,030 crore during the period, the report 1 rthe aborates.
Mr. Rajat Banerji, Chairman, IDSA, in his address highlighted "Karnataka continues to be a key market for the direct selling industry. The growth of over nine percent clearly reflects that the direct selling industry in the state could withstand the second wave of the COVID-19 pandemic, which extended to the first quarter of the year. The growth figure also reaffirms the relentless hard work of direct sellers. Direct Selling has provided sustainable selfemployment and micro-entrepreneurship opportunities for nearly 84 lakh Indians and has demonstrated consistent and sustained growth with a CAGR of approximately 13 percent over the period of the last four financial years down the line. The 19 member companies of IDSA can confidently lay claim to successfully protecting consumer interests as well as those of the 78 thousand direct sellers in Karnataka," adds Banerji.
He said the year bore the fruits of hard work and efforts by IDSA and other premier institutions, witnessing a major development when the Ministry of Consumer Affairs, Govt. of India, notified Consumer Protection (Direct Selling) Rules 2021 December 2021, bringing regulatory clarity on the operations of the direct selling entities in the country. Mr. Vivek Katoch, Vice Chairman, and Mrs. Aprajita Sarcar, Secretary, IDSA, were among the dignitaries present on the occasion.
About IDSA:
The Indian Direct Selling Association IDSA is an autonomous, self-regulatory body for the direct selling industry in India. The Association acts as an interface between the industry and policy-making bodies of the Government facilitating the cause of the Direct Selling Industry in India. IDSA strives to create and further an environment conducive to the growth of the direct selling industry in India, partnering with industry and government alike through advisory and consultative activities. IDSA catalyses change by working closely with the government on policy issues, enhancing efficiency and ushering desired credibility, clarity & confidence in Direct Selling.
