The Telegraph
Wednesday , February 12 , 2014
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Amway R&D unit

William S. Pinckney in Calcutta on Tuesday. Picture by Kishor Roy Chowdhury

Calcutta, Feb. 11: Amway is planning a research and development centre in the country, its third globally after the ones in the US and China.

The company today said this could happen in the next 2-3 years, and a suitable location will be finalised in about 12 months. Amway expects its Indian turnover to touch Rs 3,000-4,000 crore by 2020. In 2013, India contributed Rs 2,169 crore (around $348 million) against a global turnover of $11.8 billion.

The company further said it was pinning hopes on a proposed amendment to the Prize Chits and Money Circulation Schemes (banning) Act that now lies with an inter-ministerial committee at the Centre, to get a clear guideline for the direct selling sector.

“In 2-3 years, India will have its own R&D centre. The goal of the centre will be to develop products with applications for India that will also have a global potential. The centre will have to be where the action is. It will be more likely in a place like Pune, Haryana or Mumbai. To start with, it will not be huge and will have about 20-30 R&D people,” said William S. Pinckney, MD & CEO, Amway India.