NEW DELHI, August 3, 2017 /PRNewswire/ —
As Young Entrepreneurs driving India’s economic growth
GM, Anshu Budhraja connects with GenNext at IIFT
Anshu Budhraja, General Manager, Amway India, the country’s leading direct selling FMCG company, was invited to address young and enthusiastic students at the Indian Institute of Foreign Trade (IIFT) during the ‘CEO Talk series’ in New Delhi, IIFT, one of Delhi’s premier management institutes, invites business leaders from leading industries to motivate their students and provide them with an opportunity to interact and get inspired.
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Mr. Budhraja complimented the learning ecology of the institution and drew a comparative to lifecycle learning which Amway has institutionalized towards entrepreneurship. Discussions also encompassed forging a sustainable partnership with IIFT towards driving key government priorities of ‘Skill India’ while emphasizing the need for students to continually foster a learning mindset, take value based decisions and embrace the future with confidence.
Addressing the students, Mr. Budhraja said, “India is one of the most progressive economies and is providing stewardship and thought leadership on global issues. The Indian economy has entered a golden period with inflation and interest rates at their lowest ebb. Future is built from the future, future is not built from the past – and the new future would be amplified by the demographic dividend of around two thirds of India’s population under the age of 35 years. The burgeoning young workforce in India will soon be the largest and youngest the world has ever seen. At the same time, this vast nation is amidst a massive wave of urbanization and posts challenges with 13 million people joining the workforce annually. The nation needs to focus on creation of jobs, enhance MSME sector contribution to at least 50% and also build competencies along with alternate business models including push towards direct selling. The Direct Selling Industry is expected to grow from INR 7,200 crore to 65,000 crore by 2025 deploying more than 18 million people with 60% being women. The industry is expected to touch 1% of the population of the country and is a key enabler for economic activity in the country. The Direct Selling Industry also contributes to women empowerment – more than 60 % of Amway direct sellers in India are women.”
“PM Modi’s ‘Make in India‘ initiative has garnered an incredible response encouraging young entrepreneurs with innovative ideas and the potential to accelerate economic growth of the country. The ‘Start Up’ India initiative is yet another initiative which has motivated many young entrepreneurs to turn ideas into action thereby increasing the number of jobs in India. The ownership is on us to realize the potential of the Indian market with clear focus on awareness, affordability and accessibility. The recent reforms on GST and de-monetization have been game changers and will have a long-term impact on the economy. The reforms are expected to enhance the growth rates, enable ease of doing business and unleash productivity in all the key sectors in the economy,” he added.
During the talk, Mr. Budhraja emphasized on drawing the focus of the corporate sector towards leveraging the youth potential with special reference to Amway’s youth-centric strategies. Mr. Budhraja added, “Youth have always been a core focus area while formulating our strategy which is showcased through Amway’s brand engagement initiatives including digital marketing, experience stores, product portfolio and our new consumer connect strategies. A few examples out of the last 12 months include signing up Farhan Akhtar as the brand ambassador to promote the Nutrilite range of the products, launching Energy Drink (XS) through rock shows across top 20 cities. Understanding the need to constantly evolve products and adapt strategies, Amway India has added a promising range of youth-centric products in its portfolio such as the Energy Drink (XS) and Whey Protein (XS) in the sports nutrition segment.”
Amway India is also aggressively driving innovation by entering newer categories, most notably; the company has launched a weight management program called ‘W.O.W.’ (Will Over Weight) which has been really appreciated by the consumers in India. Recently, Amway has forayed into the consumer durables segment with the launch of a premium cookware range – Amway Queen with VITALOK which preserves and retains the nutritional value of food and also comes with a 30-year warranty.
In an effort to map different aspects of entrepreneurship in the country, Amway has been releasing the coveted India Entrepreneurship Report since 2014. The report indicated that nearly 50% people considered starting their own business. Amway globally promotes and facilitates entrepreneurship as an alternative career for young people.
About Amway India
Amway India is a wholly-owned subsidiary of Amway with headquarters located in Ada, Michigan, USA. Amway is one of the largest direct selling companies in the world with presence in over 100 countries and territories.
Globally, Amway is over 57 years old, US $ 8.8 billion, manufacturer and direct seller of quality consumer goods. Amway’s innovation and industry-leading R&D has seen more than 1200 patents granted and another 500 patents pending. Amway has nearly 1000 scientists across 75 research and development and quality assurance laboratories worldwide.
Amway India sells more than 130 daily use products across categories like nutrition, beauty, personal care and home care through individuals who make personal recommendations regarding the use of distinctive quality products. Amway products are widely recognized and appreciated for their quality and value. These products are backed by a money back guarantee for 100% satisfaction of use.*
Amway products are popular not just in India but across the world. Nutrilite is the world’s No. 1 selling vitamins and dietary supplements brand**. Nutrilite has established itself as a leading brand in the vitamins and dietary supplements category in India as well. Amway has signed Farhan Akhtar as the brand ambassador for the Nutrilite range in India to further promote the brand. Artistry is the world’s No. 1 direct selling premium beauty brand ***. Amway India also offers ‘Attitude’, a premium skincare and cosmetics brand targeted at Indian youth. The product range has been developed keeping the needs of Indian consumers into consideration.
Amway India is aggressively entering newer categories. Most notably, the company has launched a weight management program called ‘W.O.W.’ (Will Over Weight) which has been really appreciated by the consumers in India. Recently, Amway has forayed into the consumer durables segment with the launch of a premium cookware range Amway Queen and the Energy Drink and sports nutrition segment (Whey Protein) with XS.
Amway’s manufacturing facility in India is located at Nilakottai in the Dindigul district of Tamil Nadu. This is Amway’s third manufacturing plant located outside of USA. The other plants are located in China and Vietnam.
*As per Amway Refund Policy.
**Source: Euromonitor International Limited. Vitamins and Dietary Supplements, World, GBN, Retail Value RSP, % breakdown, 2015.
***Source: Euromonitor International Limited; Beauty and Personal Care 2016, Premium Beauty and Personal Care 2016 edition, Premium Beauty and Personal Category; retail value sales,UBN,2015 data.
Source: Euromonitor International Limited http://www.euromonitor.com/amway-claims.
For Further information, contact:
Associate, Ketchum Sampark
SOURCE Amway India