Organic Farming to Wedding Planning: Top 10 businesses in India
With the changing market, online cloud-based businesses and digital marketing are now in the limelight. Also, new government policies for MSMEs organisations and simple loan availing facilities with lesser interest are encouraging a number of budding entrepreneurs to plan and start a new business.
The increase in Gross Domestic Product (GDP) and per capita income has brought people a lot more disposable income, consequently turning things that were earlier perceived as wants into necessities now.
Read on for the top ten trending, latest, and profitable businesses in India.
- Organic Farming
Did you know that India is comprised of about 20% of the total organic producers in the world? Organic farming can easily turn into a lucrative business in the country, owing to the abundance of natural resources and fertile land.
- Food and Beverage Business
India is one of the fastest-growing economies in the world. Food represents a major chunk of its culture. With new food trends coming regularly and billions of consumers residing in the country itself, starting a food chain franchise doesn’t seem unprofitable.
- Pharmaceutical Business
Did you know that the Asian country is one of the largest exporters of generic drugs in the world? The Indian pharmaceutical industry welcomed a revenue of a whopping $55 million in the financial year of 2020.
- Real Estate
Real estate has always been a booming business in India owing to the rapid rate of urbanisation. The sector is expected to reach $1 trillion by the end of the decade. The only back-off point here is the need for high capital for investment.
- Wedding Planning
Big fat Indian weddings are popular across the world. The market is currently worth around $40-50 million and is growing at a swift rate of 30-40% each year. Over the past few years, themed weddings have become immensely popular among Indians.
- Website Designing
Are online businesses now the new normal? The growing demand for websites is expected to help website designing stay under the spotlight for a lot more years. A report by Adobe revealed 48% of people believe the design of a website is the primary factor for determining the credibility of a business.
In today’s world, apart from the growing demand for pre-wedding photoshoots and wedding photographers, interested ones can also venture into the world of nature, wildlife, fashion, and journalism.
- Labour Contractor
It’s one of the most happening businesses in India and requires relatively less capital investment. Contract workers make up 34% of the country’s massive workforce, and the need for more individuals is prominent enough to not be missed.
- Travel Agency
India is considered one of the most popular destinations across the globe. In order to stay profitable, travel agencies should collaborate with other likewise sectors, such as the hospitality and transport industries.
- Virtual Business
Online businesses of any kind have the potential to go a long way. The online setup does not demand a lot of capital investment and hassle. Just a little bit of polishing and decent marketing and communication skills can help generate a lot of profits.
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