With a growing economy business opportunities in India are also growing
Even as the global economy that came to a standstill in the last two years, picks up pace, India looks promising with a double-digit GDP growth. Though, the growth is predicted to be lower than the previous year, India is one of the bright spots in the global economy.
Under such circumstances, business opportunities in the country seem lucrative and the entire world is looking at the Indian market. Given the size of the Indian market, labour availability and government initiatives, entrepreneurs want to capture the market opportunity here.
This and the coming year are expected to be one of the most rewarding years for you, if you are
planning to start a business or growing business in India. There are ample business opportunities
here with a robust business community that is only growing by the day, giving rise to excellent
business networking platforms .
The Bright Side
Technological advancements, contactless payments, government initiatives for MSMEs, business excellence awards and much more are encouraging the business community in the country and abroad to tap the business opportunities that a growing economy like India has to offer. Various business forums by the government and private organisations are offering the necessary business networking platforms for businesses of all kinds to take advantage of the market opportunity in India.
Market trends are constantly changing every day. As more people take to online business, cloud kitchen, online bakery, and digital marketing services have seen a dramatic rise. Though India went online much before the global pandemic, like many other countries, the pandemic only saw a whopping rise in this trend and post-pandemic, it is here to stay.
A fast-developing country like India new avenues for investment comes up now and then, giving ample scope for growing a business.
Some of the lucrative business opportunities in India - considering the market trend, demand and need for products and services, are - w ebsite designing, interior decoration, real estate, building materials, wedding planning, pharmaceutical business, food and beverage business, bakery, travel agency, organic farming, e-commerce, artificial intelligence and online classes.
As the digital sector of India continues to boom coupled with an increase in the per capita income of the average Indian, the standard of living has also upgraded from wants becoming needs. This in turn has elevated e-commerce.
We discuss some of the best business opportunities in India though the list is quite long.
Make in India
The Indian governments Make in India initiative has given a boost to entrepreneurship in India not just in the manufacturing sector but also in other sectors. Encouraging companies to develop, manufacture and assemble products made in India have seen a huge success and under the present day volatile market scenario, businesspersons across the globe are keen on the market opportunity India is offering.
Pharmaceutical Business
COVID-19 has showed Indies supremacy in the pharmaceutical business. It is known to be the
worlds largest exporter of generic drugs and the world is looking up to India for its pharmaceutical industries. Many companies are looking at the business opportunities that the
Indian pharmaceutical sector has to offer. The pharmaceutical market here is the fastest-growing and the most competitive in the world.
Add to it the large workforce in the pharmaceutical sector including scientists, genetic engineers, entrepreneurs and others in the business community who form a part of the distribution.
Wedding Planning
Indians have always reveled lavish, elaborate weddings that go on for few days. Now, wedding celebrations have graduated to wedding destinations, theme weddings, pre-wedding shoots, planned dance and music performances, exclusive photography and videography, more elaborate menu than before and social media publicity.
As per latest statistics, the Big Fat Indian Wedding market is around $40-50 million in worth and is growing at a rate of 30-40% every year.
Digital Services
Website designing, blogging, cloud technology, AI (artificial intelligence) and ML (machine
learning), digital marketing, e-commerce, online classes, online event management are some of
the most lucrative business opportunities in the Indian market and also generate employment.
There is a great demand for online resources.
As a token of appreciation and encouragement for businesspersons, MSMEs, start-ups and other entrepreneurs, many government and private organizations have started awarding them for their success and endeavours. The business community has also come up with such Business Excellence Awards to encourage their fellow businesspersons. This has also given rise to business networking that in turn boosts businesses and economies of various countries.
