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Our read
ADSEI is likely to lobby for policy easing to lift direct selling beyond its ₹31,095 crore FY29 baseline.
For operators
With 91 lakh active sellers and wellness at around 61% of sales, the lever is lifting the roughly $2 per-person spend through a wider range and repeat purchase, not recruiting more sellers.
Watch
Wellness share of sales versus the 61% reported
The report: India's direct selling industry to top Rs 25,000 crore in FY26, but $2 per-person spend caps growth: ADSEI-Kantar
ADSEI's report puts the industry at Rs 23,522 crore in FY25 and projects Rs 31,095 crore by FY29 in its business-as-usual case. Growth will depend on raising consumption per seller and productivity, not just expanding the seller base.
- FY25 industry valueRs 23,522 crore
- FY26 projectedabove Rs 25,000 crore
- FY29 pessimistic caseRs 26,890 crore
- FY29 business-as-usualRs 31,095 crore
- FY29 optimistic caseRs 35,699 crore
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Reported figures
From the report. Source details below
| Active direct sellers: | 91 lakh |
|---|
What to watch next
- Active seller count versus the 91 lakh reported
- Any central or state rule change or enforcement action on direct selling
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Regulators may keep scrutinising direct selling against pyramid-scheme and consumer-protection norms, which could slow aggressive recruitment.
- Rival retail channels such as e-commerce and social commerce may keep competing for the same wellness buyers.