People are very smart so they analyze history, statistical reports, or network marketing growth in India in 2021 to find out the past and future network marketing business.
India’s economic slowdown plays an important role in that more entrepreneurs think out of the box to choose a broad and profitable business platform – “network marketing or MLM”.
People in India are worried to make money comfortably and simply, and the same thing is the main peak of the network marketing business.
The current condition of MLM or network marketing in India is seen cheering and guaranteeing future success in this industry.
By comparing with other developing countries, India still stands behind to accept MLM business completely.
The only reason for this is the MLM scam that runs behind the network marketing the business. Fraud decreases the Indian economy, but now, preventive measures are treated to get rid of MLM fraud.
Scope of Network Marketing In India 2021
Network marketing is one of the main businesses and traditional product sales in multi-level and forms a broad network of people to promote business.
At present, this is the best industry to remain profitable and start operating in more than 100 countries with a massive size of market. I.e. around 167 billion USD.
The direct sales industry in India seems to promise the benefits generated. Yes, it was almost doubled in 2016 compared to 2011.
From the Assocham report, it was clear that it would touch a record of around 159.3 billion in 2021. The average sales increased for each individual, and it was almost around $ 300 per year.
The study also illustrates that the network marketing business has enough space for marketers and can build a contribution platform to improve the MLM business in India.
This study shows that the MLM business rating increased from the 22nd position to 20th place during 2015 until 2016. The top three markets during those years were the US, Korea, and China.
From 2015 to 2016, sales volume reached a record $ 183 billion globally. A large number of people began to join the MLM business. Nearly 80 percent of countries around the world began to join the MLM business.
Although there is sustainable growth over the years and the benefits that are contributed to increasing the economic value of India, this MLM business is not accepted in India because of the various schemes adopted in India.
Sometimes the network marketing scheme involves a big cost to hold this network marketing business. People in India face an immoral network marketing scheme where they have not benefited from the MLM business.
In accordance with the survey conducted from 2015 to 2016, almost around 50,000 people benefited from MLM opportunities offered by direct sales companies.
Various government schemes such as Digital India, making in India, Indian skills support the attributes and growth of network marketing business in India.
To increase the growth of network marketing companies, various guidelines can be implemented at various levels and policies.
Policies such as FDI (Foreign Direct Investment) Policies and the Consumer Protection Bill will offer a retaining environment for the MLM business.
Future of network marketing in India 2025
With the above record, it is estimated that the change of network marketing in India will reach the peak of INR 645 billion in 2025. It also has an impact on various social and economic factors.
1. Passive income opportunities:
The network marketing business will offer opportunities for a large customer base to get passive income and micro-entrepreneurship promoted.
It is estimated that around 5 million distributors are involved in the MLM business to get passive income.
2. Empowerment of women founded:
During 2013, it is estimated that it has employed around 3.4 million women as MLM business distributors.
Network marketing businesses open space for women’s empowerment and establish a strong future for women to balance their time and work more effectively.
3. Opportunity for SME:
Direct sales companies come with the launch of new products and depend on SMEs to improve their product features. This provides an opportunity for SMEs. Companies invest in appropriate SMEs to promote their MLM business with new products.
4. Increased generation of employment:
As we have seen that it provides passive income for marketers, but also provides employment opportunities for a large number of people.
Most of the time MLM companies interact with various vendors to complete operations such as packaging and distribution.
5. Initiation of social responsibility:
Extraordinary network marketing companies in supporting social responsibility. Projects conducted by several significant MLM companies play an important role in resolving social impacts.
For example, the Sunrise Amway project and Avon breast cancer crusade.
6. Contributions to the Government Sector
Since MLM companies generate large taxes to the government. This helps in improving the Indian economy with a large income. During 2013, the tax produced around INR10 billion.
It also contributes to direct and indirect taxes.
Conclusion
In this blog you learn about the Network Marketing In India 2021. This blog will help you to learn about the future and scope of MLM in India.
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