Amway is the leading direct selling company in India, the company says. Budhraja complimented the learning ecology of the institution and drew a comparative to lifecycle learning which Amway has institutionalized towards entrepreneurship.
Discussions also encompassed forging a sustainable partnership with IIFT towards driving key government priorities of 'Skill India' while emphasizing the need for students to continually foster a learning mindset, take value based decisions and embrace the future with confidence.
Addressing the students, Budhraja said, "India is one of the most progressive economies and is providing stewardship and thought leadership on global issues...Future is built from the future, future is not built from the past - and the new future would be amplified by the demographic dividend of around two thirds of India's population under the age of 35 years."
Budhraja continued, "The burgeoning young workforce in India will soon be the largest and youngest the world has ever seen. At the same time, this vast nation is amidst a massive wave of urbanization and posts challenges with 13 million people joining the workforce annually. The nation needs to focus on creation of jobs, enhance MSME sector contribution to at least 50% and also build competencies along with alternate business models including push towards direct selling."
He also pointed out that the Direct Selling industry is expected to grow from INR 7,200 crore to 65,000 crore by 2025 -- deploying more than 18 million people, including 60% women.
In an effort to map different aspects of entrepreneurship in the country, Amway has been releasing the coveted India Entrepreneurship Report since 2014. The report indicated that nearly 50% people considered starting their own business. Amway globally promotes and facilitates entrepreneurship as an alternative career for young people.