Its High Time !! Now we want proper MLM regulations in India to stop loss of common people
This petition had 834 supporters
An appeal to every responsible Indian.
An estimated 5.8 million people in India are involved in the Direct Selling industry that generated about Rs.7200 crores in 2014. The industry is expected to touch Rs 64,500 crores by 2025 according to a recent report by the Federation of Indian Chambers of Commerce and Industry (FICCI) in partnership with international accounting firm KPMG India.
I as an individual starting this petition so that common people can be saved from such scams & they don't end up in ending their lives as it has happened in past in case of Speak Asia 2200 Crore Scam, Digi2deal the latest one which has happened in 2016.
In order to stop this from happening again & again , govt. should take below measures:
1) A government authorized regulation or regulatory body should be introduced for Direct Selling business in India .
2) This regulatory body should monitor MLM companies which is growing at rapid pace , they just need to monitor if money is coming from outsource or it is just circulated
3) Every MLM should take certificate from this regulatory which shows that it is a genuine MLM & company is not just circulating money within the public. Every MLM should be required to take this certificate if it crosses 1000 number of people.
4) Every MLM should be enforced to maintain two accounts, one for incoming money from the members and one for the income coming from outside(not members money)
Kindly sign the petition to support the demand for a strict regulation on Direct Selling to protect the consumers and save the livelihood of deprived people who are silently contributing for our economy.
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