Rs 1000 cr business by Dec 2008: Amway

Jamshedpur, Oct 17: On Friday, Oct 17 FMCG major Amway India claimed that it would cross Rs 1000 crore turnover target by the end of this calender year despite the ongoing economic slowdown worldover. Adressing a newsconference company vice-president (East) Diptarag Bhatacharjee said ''Amway India has had a good year so far and we are confident of breaking through the Rs 1000 crore mark by 2008.

The economic slowdown world over will not have much effect on our buisness and this won't hamper us to reach our target comfortably. We started with a meager Rs 91 crore in 1998 and last year our turnover was nearly Rs 800 crore.'' Mr Bhattacharjee claimed the global financial crisis would not have a very strong effect on the Indian economy, which was now very strong and not so fragile as It was a few years back.

"Indian economy will remain vibrant and we have actually fixed a turnover target of Rs 3200 crore by the end of year 2012. We are constantly launching our new products to expand our direct selling business base even to the remotest parts of the country.

Apart from our FMCG sector, our insurance business is doing quite well", he added.

UNI