Amway looks at Rs.10 bn turnover in India this yearNovember 7th, 2008 - 3:38 pm ICT by IANS
Agartala, Nov 7 (IANS) US direct marketing consumer and home products giant Amway Corp hopes to do business worth Rs.10 billion in India this year, even as it plans to add to its product portfolio in the fast growing market, a senior company official has said.”After commencing commercial operations and business with Rs.9.1 million in 1998, Amway has done business worth Rs.8 billion last year in India,” said Diptarag Bhattacharjee, vice-president (East), Amway India.
“We now hope to take this to Rs.10 billion this year,” he said.
Amway India, the wholly-owned subsidiary of Amway Corp, has invested about Rs.1.51 billion in the country, with Rs.260 million coming as direct foreign investment.
Bhattacharjee said almost all the 110 Amway products in four categories are manufactured in India through five third-party contract manufacturers with production facilities and skills conforming to international standards.
The four categories of Amway products include personal care, home care, nutrition and wellness and cosmetics. According to Bhattacharjee, the northeast region accounted for the maximum number of Amway product users in India.
“Amway India has paid Rs.47.50 million to the state governments in the northeast region in the form of sales tax during the last financial year (2007-08),” he added.