QNET Builds Requests Direct-Selling Regulation in India

spcblog, 18 October 2015, No comments
Categories: Uncategorized
QNET Ltd, a Malaysia-based multi-level marketing company, announced in 2013 its plans to make India its main manufacturing hub. They intend to shift their production operations to the country. The firm plans to manufacture its items that range from electronics segments to consumer goods in India.
The QNET India Franchise CEO, Suresh Thimiri, reiterated that the company was manufacturing some of its wrist watches in India. Besides, they have already started production of Nutriplus, an energy drink in the Asian country. Shifting their production to India will give them a cost benefit of up to 12 percent. The franchise boss announced that the firm’s revenue from the operations in India had grown by 100 percent in 2012.
On the same note, it was bound to continue growing at the same pace in the future. The number of QNET Indian representatives at the firm’s five-day Vcon 2013 conference was the highest. The Indian representation formed 80 percent of the entire congregation. The company plans to offer a platform to Indians innovators, to develop unique products for its customers. Dave Osh, QNET’s global CEO, said that the firm would offer a sales platform to anyone who had a unique product for its customers. However, the product will have to pass a quality test. Consequently, he noted that the multi-level marketing industry in India lacked clear guidelines, and asked the government to address the issue.

Call for Direct-Selling Regulation in India

QNET welcomed the Indian government’s proposal to change the laws controlling the direct-selling business. It calls for the formation of a regulator to control the industry. The QNET international director of Corporate Affairs, Zaheer Merchant, cited misconceptions in the industry. Hence, it was easy to tarnish the QNET brand under the existing Money Circulation Schemes and Prize Chits Act. According to the director, there is a need to formulate specific laws in India, which govern direct selling in the MLM industry. The sector has been creating a lot of self-employment hence contributing immensely to the exchequer. Merchant commended the Indian government for its plans to form an Inter-Ministerial Group to probe the functioning of the MLM business.
He noted that the world’s fast-growing economies like Thailand, Malaysia, Vietnam, Taiwan, Indonesia, and Singapore had explicit statutes to regulate direct selling. The company is confident that the Indian government will consider relevant laws from other countries to assist in reaching just legislation. It will ensure interests in equity and commerce are served. The firm is willing to offer support in crafting these laws. The company CEO reckoned that others players in the industry were willing to assist in the formulation of the laws. He singled out the Ombudsman as a good example of bodies that would be useful in matters review or mediation.

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