Chennai, June 11 (UNI) The Indian Direct Selling Association (IDSA), the premier body governing 16 of the largest direct selling companies in the country, wanted the Government to enact a law to prevent multi-level marketing companies from taking gullible public for a ride.
Addressing a press conference here today, IDSA Chairman David R Stanley said a legislation was necessary to lay down the guidelines and functioning of the companies, involved in direct selling.
As the annual industry revenue of the Indian direct selling companies was expected to double by 2012 and set to grow at 100 per cent in the coming five years, the Government should recognise direct selling as an industry.
''IDSA is confident that the vision for Rs 10,000 crore as annual turnover was very much in sight by 2015,'' he said, adding that direct selling was strongly contributing to the country's growth.
During 2006-07, IDSA companies paid about Rs 120 crore of direct taxes and Rs 170 crore of indirect taxes to the Union Government, he said.
Mr Stanley said IDSA had been implementing the guidelines of the World Federation of Direct Selling Association (WFDSA) for more than a decade to protect both the direct seller and consumer. With the mission to protect consumer interests, the 'IDSA Authorised Company' seal had been introduced. This was the strong symbol of a direct selling company's credibility, he added.
The direct selling industry was also empowering women in India as more than 60 per cent of direct sellers were women, he added.
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