Amway, a major player in the direct selling sector, is anticipating that India will emerge as one of its top three global markets within the next five years, according to Rajneesh Chopra, the company’s Managing Director for the country. On Monday, Chopra highlighted that the company has committed $4 million (approximately Rs 35 crore) to establish four new research and development centers across India.
This strategic move is aimed at creating products tailored not only for the Indian market but also for Southeast Asian nations. Chopra explained that Amway is re-evaluating its global business strategy, shifting its focus from merely setting financial targets to a broader goal of transforming lives.
“We currently have about 550,000 active distributors and over 2 million customers in India. Our target is to increase our customer base to 5 million within the next five years,” he stated. He expressed optimism about India’s potential to become one of Amway’s top three markets globally, though he acknowledged that there is still work to be done to achieve this goal.
As of now, Amway’s leading markets are China, the United States, and South Korea. When asked about the timeline for India to break into the top three, Chopra suggested that within the next five years, the company aims to significantly advance its position through efforts focused on transforming the lives of millions. “We are working towards that transformation, which will propel us in that direction,” he added.
Chopra noted the immense growth potential in India, citing troubling statistics such as 65% of the population suffering from lifestyle diseases, 85% skipping a nutritious breakfast, and 70% facing gut health issues. He emphasized that Amway’s product portfolio is well-positioned to address these health concerns and improve overall wellbeing.
The investment in research and development is a testament to Amway’s confidence in India’s potential. The four new laboratories, located in Gurugram, Chennai, Bengaluru, and Dindigul (Tamil Nadu), are set up to develop innovative solutions in food, oral solids, beauty, and personal care. These labs will focus on using premium botanical ingredients for nutrition and skincare applications.
Chopra noted, “India is a top priority market for us globally, and this investment highlights our faith in the country’s ability to drive groundbreaking innovations in health and wellness.” Shyam Ramakrishnan, Amway’s Director of Innovation and Science for India and Southeast Asia, added that having an innovation hub in India will leverage the country’s exceptional talent pool.
This setup will support India’s goal of becoming a significant contributor to global wellbeing. Ramakrishnan mentioned that the labs would also play a crucial role in developing products for Southeast Asian markets, along with other potential global markets.
Chopra also discussed Amway India’s role in the government’s Make in India initiative, noting that the company is exporting products to countries such as Thailand, Indonesia, Vietnam, the Philippines, and South Africa. He emphasized the company’s commitment to expanding its global footprint while maintaining a strong focus on the Indian market.
Regarding recent issues with investigative agencies, Chopra assured that Amway India is actively engaging in dialogue to clarify its business model and commitment to compliance with Indian laws. He addressed concerns raised by the Enforcement Directorate, which had accused the company of generating ‘proceeds of crime’ worth over Rs 4,000 crore, some of which were allegedly transferred to foreign bank accounts.
Chopra clarified that this issue relates to investigations dating back to 2011 and reiterated the company’s cooperation with the authorities. “We are dedicated to adhering to all legal requirements and maintaining 100% compliance,” Chopra concluded, reinforcing Amway’s commitment to operating within the legal framework of every country it serves.
Amway is a global leader in direct selling, specializing in health, beauty, and home care products. With a strong presence in over 100 countries, Amway is committed to empowering entrepreneurs through its extensive network of distributors. The company focuses on innovation and quality, driven by its substantial investment in research and development to meet evolving consumer needs.
