Expect India to be huge growth driver: Amway

US-based direct selling major Amway Inc expects India to be a huge growth driver for the company and play a role in its global supply chain through innovative herbal products, a top company official said Friday.

The company also aims a sustained double-digit growth in the next five years in India, a market which it is expecting to break into its top-five global markets in the mid to long term.

"Of course we do. The size and the scope and the breadth of the Indian market, we see it as a huge growth driver for us globally," Amway Inc Co-Chairman Douglas L DeVos told PTI here in an interview.

He was responding to a query on whether Amway believes that India can be among its top-five global markets. Currently, the country is ranked seventh after China, US, South Korea, Japan, Thailand and Taiwan.

Amway has already set a target of USD 1 billion sales in India by 2025. In 2017-18, the direct selling firm had sales of Rs 1,800 crore and expects to touch Rs 2,000 crore in 2018-19.

Commenting on the company's ambitions in India, DeVos said: "We have grown at a rate of 7 per cent now, so we are going to have double digits in the near future. We believe that is the pace we can maintain certainly for the next five years and hopefully even accelerate."
Elaborating on growing expectations from India, he said: "We made investment in manufacturing here and at that time, it may have been more India for India but I think as we talk about the innovation side, like the (herbal) products, we are trying to use the resources that we have as a global company."