India is a densely populated country and the world’s largest democracy. The immediate and liberal steps taken by the Government have been responsible for integrating the country with the global economy ensuring its economic growth. However, even if the Covid-19 pandemic set in 2020 has slowed down its growth, one industry that has stood out and contributed significantly to government revenues is the Direct Selling Industry, also referred Network marketing or Multilevel Marketing (MLM) Industry. Multilevel Marketing companies that prominently provided livelihoods to millions have encouraged business owners, professionals, homemakers, and students alike an alternate source of income. India is an emerging global economy aiming for self-reliance. There was never a better time than this to foresee India as the best country for Network Marketing. This write-up intends to boost the already high morale of existing Direct Sellers and encourage budding ones to step in.
The Advent of Network Marketing in India
The concept of Multilevel Marketing (MLM) began prominently in 1995 with the entry of European major – Oriflame that was followed by several other global giants like Amway, Qnet, and others. Similarly, direct Selling that incorporates the MLM business model is legal as per Indian law. However, it is often confused with money chain schemes like Ponzi, Pyramid, and others that are debarred from operating in India according to the recent regulations drafted by the government.
Rise and Rise of Network Marketing in India
The beginning of the 21st century and the 2000s saw India make remarkable progress in reducing absolute poverty. However, the recent onset of the Covid-19 pandemic reversed the course, and hopefully, it is a temporary phase. The economic slowdown induced by the pandemic triggered the unemployment crisis. When most industries struggled to sustain, the Direct Selling Industry was the one that stood out. Because providing livelihoods to millions who lost their jobs or were compelled to take salary reductions by their employers. As more people flock to Direct Selling and as Network Marketing continues to grow, it is estimated that its turnover will reach a mammoth INR 645 billion by 2025 and generate employment for millions.
Network Marketing – Impacting Various Socio-Economic Factors
The Indian market is growing. Tech-savvy consumers are flooded with choices, and choosing a Network Marketing career can be exciting and enable you to make good money. However, one needs to be careful in collaborating with the right company to succeed. A Network Marketing career can help in your self-development – improve communication, negotiation skills, people handling skills, and so on. It can help you in your personality development that instils discipline, manners, and leadership qualities. When choosing a Multilevel marketing company, you need to check the company profile & background, company products, and business plan.
Reasons that Make Network Marketing in India an Attractive Destination
There is a wrong misconception about Network Marketing that perceives it as a door-to-door selling job. However, that is not the case. You need to understand the concept in-depth and learn how it can make your life easy. Compared to developed nations where 30 percent are associated with the Direct Selling Industry, it is less than 1 percent in India. However, things have begun to change. The coming years are likely to see the Indian Network Marketing Industry boom. Several opportunities are awaiting those who want to pursue Network Marketing as their career. And there are many reasons why someone would want to pursue this as their career.
- It helps to generate self-employment.
- Can serve as an additional source of income.
- It empowers women in becoming self-reliant.
- It paves the way to attaining financial freedom and entrepreneurship.
On the national front, the Network Marketing Industry facilitates the growth of the Small and Medium Enterprise (SME) sector and contributes significantly to the Government treasury.
Exciting Times Ahead for Network Marketing Companies in India
Are you planning to join a Network Marketing company? Do you wish to become an entrepreneur in the future? Do you want to become self-reliant and attain your financial dreams in life? The Indian Government has boosted the Direct Selling Industry, and this could be just the right time for you to enter the industry by collaborating with an MLM company of your choice. With the Government drafting regulations to protect the interests of the investors, you do not have to worry about the fraudulent practices incorporated earlier by fake companies that duped many innocents. All you need to do is make an informed decision, verify the company’s credentials, and ensure the company is legal and registered with a government body. Well done is half the battle won and set the foundation for a successful Network Marketing business as we advance. All the best.
