Before talking about the Industry or future or scope of it, it is important to analyse the trend of the market which has moved from past 20 to 30 years. Comparing the past movement in the industry across the world there is no doubt in concluding the facts that the business has been made more comfortable and easy approachable to the consumers. The power of internet is being consumed in a very positive ways and industry has picked up the growth across the world. The industry discussed is none other than Direct Selling Industry. Whose net worth is more than $250 Billion, which is more that our entertainment industry or any other existing in the economy.
As the industry is fastly moving towards this platform and no doubt of touching the same $500 billion soon. Today is the age of globalization and the same to be known as the business of 21st Century. Where any person in the world can think of creating the wealth for the future. The development countries like USA, Singapore, Dubai, etc has a major role of this industry in their GDP of the nation. Traditional marketing involved “brick and mortar” retail outlets, malls and multiplexes. This has now been replaced by e-commerce – a new frontier for marketing.
Direct selling advances trade and facilitates the economy by promoting alternative sources of income, self-employment, self-sufficiency, the setting up of micro-enterprises, and entrepreneurship. With the ushering in of digital growth and e-commerce proving to be a game-changer for the Indian economy, the time is ripe for populated nation like ours to cash in on, and adopt, the widely accepted “direct selling” model of marketing as well. Most the industries in today’s world are shifting to this industries as the same is need of the future to survive. The growth of industry is depending upon its consumers and there is no doubt of creating the consumer so quick and fast on e-commerce platform.
The business of 21st century do not talks about a millionaire to grow up, however any person can grow up as an Entrepreneur and create a legacy of the upcoming generations. One of the business guru has written that the business which runs on the system can never be defeated. Currently, most the population in the world is a part of system, where they are working for some other system creating revenues and getting peanuts, instead of knowing the fact that a system is possible to be created in the business of 21st century. Direct selling industry, any person can think of creating his own system and create a legacy of upcoming generation and become a financially free person. Earlier the challenges faced by this industry has also been removed by introduction of norms and law for this industry. Accordingly, the legality constraint has been removed and person can now think of being an Entrepreneur.
In another interesting development, the Karnataka High Court in its progressive judgment dated 15 February 2017 recognized the emergence of “direct selling” as a global industry. The observed that these activities did not constitute an offence and legally to be run in India. In the harsh reality 97% of the population in this world are working for someone else and creating big revenues to other system for peanuts and being satisfied with their living standards. Where a big platform has been offered to everyone to create their own system and can be part of this growing economy and think of creating their own legacy as it is the best time for being introducing our self as an entrepreneur and working to create revenue for our self for profit and not for peanuts.
It is only the decision that he has to be part of system or create its own system, which is possible in 21st century.
Hope the same will help in understanding the betterment of future and personal growth perspective.
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018