Amway India to register highest growth this year
Amway India, a wholly-owned subsidiary of 8.2-billion dollar direct selling major, Amway Corporation, on Tuesday said it was aiming to register the highest growth in percentage terms in 2009.
"Asia has been leading most of the FMCG growth compared to rest of the world for the last four to five years. India will register the sharpest growth in percentage terms compared to other economies," Amway India Managing Director and CEO William S Pinckney said in Kolkata.
Amway targeted to scale up India's ranking to among the top two or three markets from seventh at present, he said on the sidelines of the inauguration of the 'The Brand Assessment Centre'.
Pinckney said he was projecting a growth of 25-27 per cent during 2009 despite the recession. According to him the impact on FMCG was least during a recession.
Moreover, Pinckney said he believed that more people would join the firm as an income opportunity due to low entry and low risk business to overcome loss of certain income in this turbulent period.
In 2008, the company had registered a turnover of Rs 1,128 crore, a growth of 40 per cent over 2007.
"Last year was an exception and I believe a growth of 25-27 per cent is excellent," Pinckney said.