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‘Amway chief incident may impact FDI’

The Bengal Chamber of Commerce and Industry has expressed its concern about the arrest of William S Pinckney, Managing Director of Amway India by Andhra Pradesh police saying that the incident may have an impact on India's Foreign Direct Investment. This incident is also likely to send out a wrong message to the multinational companies operating in India as well as potential foreign investors, the chamber said. The Chambersaid that currently over 30 Direct Selling multinational companies operate in India and generate annual revenue of more than Rs. 7,100 crore. Globally, there are more than 100 Direct Selling companies, who are planning to expand their operations to India.

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