Journalism of Courage
Upbeat over 26 per cent growth in revenues from Jammu and Kashmir in 2011,FMCG company Amway India today said it will set up a manufacturing unit at a cost of Rs 400-500 crore in the state in the next 2-3 years.
“By next two to three years,a manufacturing unit would be set up in Jammu and Kashmir as business is growing here,” Vice President (North),Amway India,Bhuvan Kapur told reporters here today.
The company will invest Rs 400-500 crore in this regard and it will need the facility in next two to three years in view of growth of products here,he said.
Amway Indian Enterprises,the country’s largest direct selling FMCG company,recorded 26 per cent growth in the state in 2011 with a sale of Rs 14.5 crore,he said.
While J&K continued to be one of the fastest growing states for Amway,the company clocked a turnover of Rs 2,130 crore nationally thus registering a growth of 19 per cent in 2011,over the previous fiscal (2010) when a recorded a turnover of Rs 1,790 crore,he said.
Kapur said,”The double digit growth for the last four years is buoyed by the launch of products in the lead categories of health & beauty,penetration of products in semi urban and rural markets of the state and the tremendous effort put by the distributors.
“Our advertising in and e-commerce initiatives have also led to enhanced visibility of the Amway brand and in contributing to a healthy growth”.
