Amway Bets on India's Growth, Sees 'Incredible Potential' - Doug DeVos

New Delhi, Mar 25 (PTI) Global leading direct selling firm Amway is betting on the 'incredible potential' offered by India, which continues to grow on the global stage, and the company seeks to be a part of this journey, its Co-Chairman of the Board of Directors, Doug DeVos said on Tuesday.

India – which along with the US and China, form three really strong, powerful markets in the world economy – is a hugely important marketplace. It is expected to play a significant role in Amway's global operations, DeVos, who is on a visit here, told PTI.

DeVos also noted that doing business in India is challenging with differences in the regulatory environments between states and the union and some of the older laws that may not apply today need to be either eliminated or updated.

He said his India visit is "to really come back and connect to the marketplace again, to see and remind myself of the dynamic nature and the incredible potential that India offers, renew our efforts to be part of the success, be part of the future".

Reiterating the significance of the Indian market, DeVos said, "It's hugely important... It is very easy to see the dynamic nature of the marketplace and the size and the scope and the role that India is going to have on the global stage and that already has. Its role will continue to grow and strengthen, and we want to be part of it. We see that."

Further, he said, "You can easily see between India and the United States and China, three really strong, powerful markets in the world economy, and that connects with us. We want to be part of that and so we see the role of India in the 'Amway world' is very strong. So that is what we are working towards."

When asked about implications of US President Donald Trump's tariff war, DeVos said, "We see what's happening, but we don't stop and wait. The Indian market is dynamic, and it's important right now. While these discussions are going on, we still have to operate. We still have to be here. We still have to be working in the marketplace."

Amway is focussing on what are the things that it can control continuing with its operations, developing new products, bringing new technology and strengthening its relations with Amway business owners, he added.

DeVos, while noting that the US policy is trying to reshape some of its trade relationships with tariffs being a part of that discussion, said, "I continue to believe that the overarching desire is to establish free and fair rules based trading relationships going forward, and to strengthen those."

He also said, "Though, I see behind that there's going to be conversations between the US and India about how we can strengthen our national relationship and our economic relationship as well."

When asked about the regulatory issues that Amway has encountered in India, he said, "Some of the regulatory issues that we face are certainly difficult and can be distractions to us."

However, he added, "We have tremendous confidence in our business and our business model and our ability to operate here in India, as we have in markets all over the world. We need to just continue to focus on the marketplace, focus on our products, focus on our business opportunity, and make sure that everything we do in the marketplace builds trust and strengthens our reputation. That is the best way to demonstrate to regulators that we're committed to this marketplace, that everything we do as we operate in India and around the world, we follow the laws."

On the ease of doing business in India, DeVos said like any other market, India has its challenges.

"Whether it's India or whether it's the United States, every market has these challenges. They all have operational challenges," he said, adding that it was important for India to be really clear about the goals that it has and set about the work to achieve those goals through ease of doing business, regulatory and infrastructure environment.

"Some of the older laws that may not apply today need to be either eliminated or updated, so that everybody can move strongly forward," DeVos said.