India is always one of the most important markets for global companies. As it provides a substitute for China’s hegemony in the supply chain from all over the world. India also has a wide population which also contributes to making it a significant market from the point of view of many manufacturing companies all over the globe. Unlike other countries, India has maintained and continues to maintain good trade relations with major developed and developing economies all over the world such as the US, the UK, Japan, the European Union, and many more.
There are business opportunities in India and discovering them is now becoming easier than earlier processes. Earlier, people used to do the trial-and-error method which was riskier. With the development of the Indian economy, there are many successful ways for investors to invest in expanding or registering a new company. Many new activities are emerging which are for greater efficiency and investments friendly. This is to become easier to start or expand a business in India.
After the starting of a COVID-19 pandemic from 2020, there is a major change in the preferences and uses of the individual’s life. Many things are shifted to online platforms. People are more inclined towards online businesses. The trend of the stock market is also fluctuating every day. Therefore, businesses that provide services through online platforms have a massive boom. In India, there are many new ideas for investors to invest in artificial intelligence or digital online businesses.
We, from Odint Consultancy, are here to guide you with Business opportunities In India for start-ups. In this article, we will see different options of businesses that can be started in India.
Some profitable Business Opportunities In India
After the pandemic of COVID-19, work from home has become more demanding, as a result, several businesses are shifting to online platforms and also many new online businesses have continuous growth and good profitability. A list of some business ideas for India is as follows-
Interior designing and decoration
This business is best suited for those persons who have creative minds. The market for interior designing and decoration in India is generating billions of USD dollars. Having beautiful or aesthetic homes is no longer limited to the urban rich peoples of societies, middle-class families are also opting to have aesthetic homes with modern kitchens, new color schemes, beautiful interior decorations, and many more. The demand for antiques is also increasing. Good furniture and beautiful lighting are also in demand by middle-class people. Interior designing and decorations are becoming popular and more profitable not only for the architectural or designing firm but also on social media too. And because of the increment in the use of social media, it is becoming more popular among middle-class people.
Real estate business
The real estate business is also booming in India. This business is always a prosperous and growing business in India. It is expected that the real estate business will reach up to trillions of USD dollars in the future of India. The reason for this growth of the real estate business is the growing rate of urbanization and nuclear families as well. According to the data of 2019, the housing sales had already reached more than 2,00,000 across the seven major cities of India.
The real estate business is very expensive. In this business, a lower amount of investment is not able to generate more income. It is required to have a high amount of investment to generate higher returns.
Setting up manufacturing units in India is also a very profitable idea. In India, there are many benefits such as labor at lower cost, leaner operating costs, infrastructure which is also good. There are also benefits of special economic zone businesses. These businesses can conduct duty-free export and also many other incentives which boost the local manufacturing in India and these are also provided with good trade facilities.
Some well-known regions for the setup of manufacturing units are Bengaluru, Chennai, Hyderabad, Ahmedabad, and many more. These regions have better infrastructure facilities and trade facilities. These are also promoted by the government of India.
The government of India also provides many tax incentives for these units. It also provides subsidies on capital, interest, stamp duty, and refund of GST of the state.
For investment in automobile components, capital goods, or electronic systems there is 100% FDI is allowed. In India, there are different slab rates and tax structures for different types of companies. India has a large reserve of iron ore, manganese ore, chromium, rare earth minerals, bauxite, and many other mineral salts. Many other dependent businesses are supporting the mining business such as the business of the power sector. Domestic manufacturing is also expanding, and local demand is also increasing for metals and other mining products.
In addition, in India, there is a low cost of labor and lower operational costs. The production and conversion of aluminum and steel is the more popular mining-related business. Approximately 20% of mines are still unexposed.
In digital India, digital marketing and blogging are the most popular employment opportunities. This has increased the demand for online resources. At this stage, every firm has its website. Web designing is one of the most profitable businesses for techies. For most people, web designing is the primary source for checking the credibility of the firm. At the time of the pandemic of COVID-19, this business is becoming more popular.
Food and beverages business
The economic scenario in India is amongst the biggest and fastest-growing economic powers around the globe. It has over 1 billion consumers of foods and beverages. India has a large variety of cuisines with different flavors and appeals. The reason behind this is the use of spices while preparing the food. The business of exporting spices is a very profitable business idea. Small scale industries are engaged in the production of spices. India is counted amongst the biggest spice exporters all around the globe. After developing a good network and obtaining a permit for export you can start the export of spices from India.
In a similar case with beverages, a franchise of beverages will generate higher profits. These will lead to a more profitable business in India.
Delivery kitchen, virtual kitchen, ghost kitchen are the other names of cloud kitchen. The main work of this type of business is to provide services to prepare food. This business is focused only on online ordering and delivery of food.
This business uses cloud facilities that are of low cost. This centralized the commercial units of food production. In this many restaurants can take part by sharing the resources and serving the food. It is one of the profitable businesses in India as the number of this cloud kitchen business is growing in India with a higher growth rate.
In this era of online learning, there are many challenges faced by people. But still, there are various recoveries of online education. Many platforms provide the service of online education. Students have many options to choose the better options according to their preference. This is not only beneficial for students but also many teachers, mentors, and instructors also get a platform and avail maximum benefits of the online platform. They can also start a tutorial business.
Nowadays, online classes have emerged as one of the most important career choices of many students. For graduation level, online tuitions play a very significant role. These days online tutors for graduation level have increased the demand. Students can earn money online while doing online classes.
Business of home-based bakery business is a trending business in India. Those who have an interest in this business can start it. One can start this business very easily. They can use their skills and start baking and delivering cakes and other bakery products from their homes. This business does not require too much set-up cost. For convenience and beginning, you can start selling your products to your family, friends, neighbors through online mode and delivering them to their homes. It is one of the top and easier businesses in India which can generate a good number of profits.
Business-related to agricultural and forest produce
According to the records, India has the second-largest producer of fruits and vegetables and also of bamboo all over the world. India was the ninth-largest exporter of agricultural-related products before the COVID-19 pandemic period. India has its major exports with the ASEAN, the SAARC, the European Union, the UK, Africa, and many more nations. India has the 9th largest area for organic farming in the world.
India exports its basmati rice to Iran, Kuwait, the UAE, and many other nations.
In this sector, there are many growth opportunities and incentives such as exports, India has favorable demographic conditions, mechanization, irrigation facilities, government support, and many others.
Best Low Investment Business Opportunities in India
It has been stated for a long time that in order to begin with any business activity, one must have a check on the investments they require. Generally, it is a high number. But recently, the situation and scenario have changed and shifted. In the current year, i.e., 2022, one may not need any heavy amount of capital and can try their hand at starting with their business with even zero or no monetary investment.
Here are the best opportunities for such an entrepreneur who is not going for a heavy investment demanding business:
- Arts and Crafts- Whether an artist or a painter, this path can be perfect for a no investment plan business. Artists can sell their artwork for much money and can even become famous on social media handles such as Facebook, Instagram, YouTube, Twitter, etc.
- Coaching and tutoring- A senior can always teach a junior, or even if one is qualified and experienced enough in a subject, personal or mass tutoring is a lucrative business.
- Gift Baskets- Now that the celebration scene has shifted, many people require a good-looking gift basket to go with their wishes to any loved one or to bring light to any event. Personalized gifts are the way to go for any occasion these days and a good way to start a business.
- Personalized Merchandise- People have shifted from wearing brands to wearing customized clothes they want to be represented by. It is a huge industry when one can tap into the likeness of any consumer and a good way to start very small.
- Online Services- You can reach out to any website and provide various services like copywriting, content writing, ghost-writing, photography, digital arts, advertisements, logo designing, trainer, consultant, dietician, etc.
- Counseling and Career Guidance- From being a worker to a homemaker, there are many personas everyone has to shift between in their day-to-day lives. Many people require professional guidance from industry experts to figure out their next professional or personal steps.
- Resale Store and Drop-shipping- This type of business is good to start with when starting on zero investments. In this one, a person becomes the middleman between a manufacturer and the end consumer. Although, while in a resale store, a reseller has to buy the products at discounted prices and resell them at higher prices.
It has become a well-established fact that the Indian business grounds possess a special richness and boom potential when it comes to a good business, a business that is lucrative as well as long and everlasting.
In this article we went through exactly what could help not only budding but also the experienced entrepreneur minds residing or wanting to come to India and spark an excellent business idea laying on the table of possibilities.
We looked at what are the business opportunities in India that can call themselves profitable and giving at the same time. Some of these examples included business ideas such as decoration, interior design, real estate, manufacturing products and services, mining, web designing, and food-related services.
Odint Consulting specializes in providing niche information in different countries including major ones like the UK, USA, Australia, Singapore, India, and more. Check out our other services on our website.
The sector of renewable energy is certainly expected to show a rise in the year 2022. There is an estimated capital investment above 15 Billion US Dollars since the government has started to focus on EVs, green hydrogen, solar equipment, etc.
Whether it is 50k or less, there can be a variety of businesses you can go for. It can be in a new market or even an existing market and an existing business. The possibilities do not end in the entrepreneurial sector.
In the year 2022, it is being estimated that among many sectors, the crucial ones are going to be among autos, services, gold, oil, and housing. Any other concerning areas to look at include interest rates, tapering, PFOF (payment for order flow), and antitrust.
Azhar Ansari is a company formation specialist with 8+ years of expertise in international business. Financial planning, risk management, and other related areas.