News Source: Business Standard
"Direct selling FMCG company Amway India will increase the prices of all its products by 3-5 per cent in early 2009 even as commodity and crude prices are witnessing a sharp decline.
Commodity prices and crude prices have declined upto 70 per cent from their peak prices in June, July earlier this year. Also recently, the government had also announced a fiscal stimulus package in which it had cut excise duties to boost growth as corporates reduce prices.William Pinckney, managing director, Amway India Enterprises said, “This price increase has been long due for us as we had not increased our prices in the last three years.”
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