Besides, Pinckney said that Amway would set up R&D centres, "location of which may be Mumbai, Pune, or even Kolkata" in the next few years. Highly professional and skilled people would be employed in the new facility and R&D centres which would have state-of-the art technology, he added. The Amway CEO said the company, being a member of Indian Direct Selling Association (IDSA), a self-regulatory body, is of the view that the government should issue a regulatory framework for the industry in India.
"This regulatory framwork, if implemented, would help genuine direct selling companies to operate and prevent fraudulent schemes or companies from duping consumers," he said. He said a committee, having representatives from RBI, corporate affairs and consumer affairs ministries, has been formed by the government on the plea of the IDSA to examine thepossibility of issuing guideline for the direct selling industry.
"I hope the committee will come out with a concrete guideline shortly for the direct selling industry and IDSA is in talks with the government in tghis regard," he added. Pinckney said the government should provide a clear definition of direct selling, streamline the FDI policy and entry routes, enact a governing legislation for the sector and appoint a nodal ministry.
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