Amway registers over 7 percent growth in India

Amway India posted a turnover of Rs.2,288 crore, registering a little over seven percent growth in 2012 over the last fiscal when it recorded a turnover of Rs.2,130 crore.

The company aims to cross the Rs.5,000 crore mark by fiscal year 2021, its eastern region vice president Diptarag Bhattacharjee said here Monday.

Amway India has invested more than Rs.151 crore in the country and has 152 offices and 69 city warehouses across India. Almost 97 percent of the 142 products sold by Amway are manufactured within the country through seven third-party contract manufacturers, he said.

Consumer and home products direct marketing company Amway India is a wholly-owned subsidiary of the US-based Amway Corp. Its fiscal year is from January to December.

Bhattacharjee said his firm had logged 24 percent growth in Odisha during the first six month of this year compared to the like period of the previous year.

"Odisha is not only the fastest growing state for Amway East but is also the leader among the top 10 growing states for Amway in India in terms of revenue. The state has been steadily witnessing double digit growth for the past four years even during the period when overall recession has hit fast-moving consumer goods (FMCG) sector in India as well," he told reporters.

The company recorded a turnover of Rs.33 crore in the state during the January-June period this year compared to Rs.26.5 crore it had achieved during the corresponding period last year.