US direct marketing consumer and home products giant Amway Corp hopes to do business worth Rs 1000 crore in India this year, even as it plans to add to its product portfolio in the fast growing market, a senior company official has said.
“After commencing commercial operations and business with Rs 910 crore in 1998, Amway has done business worth Rs.8 billion last year in India,” said Diptarag Bhattacharjee, vice-president (East), Amway India.
“We now hope to take this to Rs 1000 crore this year,” he said. Amway India, the wholly-owned subsidiary of Amway Corp, has invested about Rs 151 crore in the country, with Rs 26 crore coming as direct foreign investment.
Bhattacharjee said almost all the 110 Amway products in four categories are manufactured in India through five third-party contract manufacturers with production facilities and skills conforming to international standards.
The four categories of Amway products include personal care, home care, nutrition and wellness and cosmetics. According to Bhattacharjee, the northeast region accounted for the maximum number of Amway product users in India.
“Amway India has paid Rs 475 crore to the state governments in the northeast region in the form of sales tax during the last financial year (2007-08),” he added.
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