Direct Selling industry expects regulatory clarity with new guidelines
New Delhi, July 31 (ANI): The ministry of Consumer Affairs, in the stakeholders meeting assured the Direct Selling Industry that the draft Guidelines are in the final stages. The Direct Selling Industry is expecting these Guidelines to differentiate between legitimate Direct Selling entities from money circulation (Ponzi) and Pyramid schemes.
ANI
Jul 31, 2016 15:35 IST
New Delhi, July 31 (ANI): The ministry of Consumer Affairs, in the stakeholders meeting assured the Direct Selling Industry that the draft Guidelines are in the final stages. The Direct Selling Industry is expecting these Guidelines to differentiate between legitimate Direct Selling entities from money circulation (Ponzi) and Pyramid schemes. Minister for Consumer Affairs Food and Civil Supplies, Ram Vilas Paswan said that the guidelines will address the issues being faced by the Industry as well as protect the interest of the consumers. Terming the meeting with the minister very positive, IDSA Secretary General, Amit Chadha said, "We are hopeful that these guidelines would provide interim relief to the Industry. We are also hopeful that the Guidelines would clearly distinguish between legitimate Direct Selling entities from Ponzi / Pyramid schemes." The Direct Selling Industry has been facing challenges at multiple fronts even after twenty years of existence in the country. Due to lack of regulatory clarity, there is always a challenge being posed by the entities who operate under the garb of Direct Selling. "Since, the guidelines have been formulated after consultation with Industry representatives and other stakeholders it will certainly address a lot of issues the industry is facing currently. We have also recommended the government to notify the Guidelines as 'Rules' under the Consumer Protection Bill to give a legal sanctity," added Chadha. "While talking to the industry stakeholders, government has clearly said that consumer protection remains their top priority. This is a very positive sign for the Industry itself as we also emphasize heavily in protecting the consumers from the imposters," said Chairman IDSA, Jitendra Jagota. (ANI)
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