If you are an Entrepreneur and looking for Business ideas in India, you have stumbled upon the right post. India is one of the fastest growing economies in the world. After the economic reforms in 1991, the Indian Economy opened itself to the outside world, thereby ending decades of skepticism surrounding how the business operates in India.
In this post of Business ideas in India, we have tried to suggest only those business ideas which are practical and have generated profit for the business owners consistently.
Profitable Business Ideas in India
According to a recent world bank report, India is set to become the third largest consumer market by 2030 with consumer spending growing from $1.5 trillion today to nearly $6 trillion by 2030. According to the report, “India is poised to become the third-largest consumer market behind only the US and China, which will present opportunities and challenges.” This business Idea, in most of the cases, has worked and there is no sign of any decline.
India spends billions of dollars on Weddings every year. The wedding industry in India is quoted as being worth US$40 billion a year industry. India typically witnesses two wedding seasons. The summer season starts typically after March and lasts till July. The winter wedding season starts from November end and typically lasts till February. From Photography, Decoration to Catering, Weddings in India provide huge opportunities for all types of businesses. No wonder, wedding consultants and event planners charge huge amounts of money so that your marriage becomes a smooth affair. No doubt this is one of the most profitable business ideas in India.
Education / Coaching
More than 50% of India’s population is below the age of 25 and more than 65% below the age of 35. Moreover, by 2020, the average age of Indians is expected to be 29. No doubt, the country is spending billions of dollars to reap the demographic dividend. Still, a lot of place is left for private players. There isn’t a single town in India where you will not find hoardings of coaching Institutes. The reason for this penetration of private players is simple. The lack of quality in the government led education system. If you are good at any of the standard subjects taught at schools, you can start your own coaching Institute, which you can later expand once you establish your reputation. Moreover, with the advent of online education, you don’t even need to have your own brick and mortar establishment. You can enroll yourself on various platforms and teach your students virtually. With various online learning apps launched recently, this is one of those Business ideas in India which is getting a lot of traction.
Pickles, Jams and Papad business
Indians love spice and their love for Pickles, Jams and Papad is no hidden secret. One of the oldest Business Ideas in India, this business has made several millionaires. If you have that magic masala that you can add as an ingredient in your Pickles, you can easily create a name for yourself in a short period of time. Moreover, these things are household items in India and with a population of over 1.3 Billion people, you have a huge market base.
Traditionally, India was not regarded as a ‘Cake-Chocolate’ country. However, the last two decades have changed the taste pattern of Indians. If you have a passion for bakery products or Chocolates, this sector is perfect for you. Be it Birthdays, Farewells, Corporate parties, there are a plethora of events where the demand for these products are huge, thereby creating huge business opportunities. Again one of the most promising business ideas in India, this business idea is here for a long term.
Yoga is big nowadays. India is regarded as the country where Yoga originated. However, for masses, it was lost in the tide of time for quite some time until it was made popular by the likes of Swami Ramdev. The popularity has soared immensely over the last few years. Nowadays, schools, colleges and even big corporate houses are hiring Yoga Instructors thereby creating opportunities for Yoga Instructors. You can also create your own name by uploading your Yoga Videos on Youtube, Instagram and Facebook.
With more disposable income at hand, Indians are spending more on vacations than ever. No doubt Travel Companies are cropping up in every small town. The Indian government is also investing heavily in upgrading the facilities at famous tourist destinations. This has created enough opportunities for tourism-related companies. According to various Industry reports, this segment is set to witness growth in the coming years as well.
Medical Diagnostics / Medical sample Collection
Public healthcare is not as good as it should be in India even though the country has improved several key indicators which determine a country’s health viz. Maternal Mortality Rate, Infant Mortality Rate and Life Expectancy among others. This has resulted in private players entering into healthcare, Mainly in the Diagnostics sector. With ‘home delivery’ concept picking up in India, people are opting for home collection of samples. Again, one of the latest business ideas in India, various labs are making tons of money by charging some premium on home collection of samples. This not only generates profit for the companies in this sector but precludes patients going through the hassles of waiting in queues for their turn.
Typically considered as a woman dominated sector, this perception has changed in the last few years. Moreover, it has become one of the most profitable business ideas in India. You can find a Men’s, Women’s or a Unisex Salon in almost every street corner in India. Initial Investment is low and return is high. For the same quality of work, you can charge double, triple or even ten times the amount once your name and brand is established.
Photography is getting huge in India. With cameras getting more and more accessible, and work opportunities ranging from Pre-wedding shoots, marriages and corporate events, Photography has become one of the top business ideas in India. Moreover, with the advent of various online platforms like Shutterstock, Canva etc. you can even sell your photographs online too and can have customers from all around the world. In the world of Photography, like any other profession, quality counts. Make sure that you are equipped with all the quality lenses along with knowing the photo editing software inside out.
Do you have other profitable business ideas in India? Let us know your thoughts.
You will also like 50 small business ideas with low investment.