India’s network marketing industry is growing rapidly, with the number of active companies in the country soaring from a little more than 30,000 in 2016 to more than 80,000 now, according to a report by the Indian Association of Network Marketing Officials.
In India, the sector employs more than 1.2 million people, or around 15 percent of the population.
The industry is dominated by companies based in the U.S., but is also being supported by local operators, including Zendesk, Pimco, Aditya Birla, Tata Consultancy Services, and many more, said a report released by the National Association of Association of Indian Network Marketing Operators (NAIMO).
India’s network marketers are also looking to expand their business, with one major Indian firm, Reliance Jio, announcing plans to launch a mobile app in the coming months.
The company said it would partner with local and global developers and start to roll out the app in mid-October.
The biggest players are the likes of Reliance Communications, a major telecom provider in India; Tata Consultancies Services, the biggest telecom company in India and the country’s largest; and the Indian Railways.
But the industry is also expanding in other ways, said Ritesh Kumar, chief executive of India’s largest network marketing company, NCCM.
Reliance Media, the parent of CNN-IBN, has said it will launch a digital media platform in 2021.
Other Indian companies that are actively marketing to the growing market include Tata Consultants and the Adityanath government-owned telecom company Reliance Industries Ltd.
India has also seen a surge in investment from foreign companies in its network marketing sector, with companies from Europe, the U., and the U-S.
looking to invest in India.
In addition to Indian companies, foreign firms have been investing in the market.
Last year, Relativity Media bought stakes in Adityn Technologies, a network marketing startup.
Last month, T-Mobile USA announced it would invest $200 million in Adyen Technologies, the company behind the popular Adyenoise app.