With a large domestic market and a growing range of products and services to offer to the world, India has emerged as a land of opportunities. Multiple avenues can be explored to get started with your business in the country today.
Here are the top 10 most profitable businesses in India that you can take up and begin your entrepreneurial journey with:
These are the top 10 most profitable business ideas in India
With most businesses focusing on digital mediums, opening a digital marketing agency could prove to be a lucrative business now as well as in the coming years.
You would require the knowledge of the domains under digital marketing or can have a team that can complete the work. It is suggested that you have a sound understanding of the digital marketing landscape and some of its components in order to grow rapidly.
To be a successful agency, you would require to know a gamut of services like online marketing, website designing, lead generation, content marketing, search engine optimization, and copywriting.
India has the second-largest number of internet users in the world. The number is expected to grow further to 666 million by 2023.
There is a high demand for organic products in India. The current size of the industry is estimated at Rs. 3,000 crore and is expected to reach Rs. 75,000 crore by 2025, according to a whitepaper from APEDA and Yes Bank.
You can focus on organic farming or create a free online store of organic products.
The e-commerce industry in India is growing exponentially. As per RedSeer, it is expected to reach $800 billion by 2030, shooting up from $90 billion in 2020.
Many offline small businesses have also moved online and are making a mark in this industry today. You can launch your e-commerce store with the Aasaan app today in a matter of a few steps. App download link here.
Indians are known for their love for food. There could be multiple opportunities that exist in your city. Get your ear to the ground and look for gaps that you can fill in this industry.
The scale of business in this segment will depend on the budget and working capital that you have at your disposal. It can start from a food cart and go up as a fine dining restaurant.
Cloud kitchens have emerged as an off-shoot of the food and beverage industry in recent years. With a lot of orders being placed online, you can now set up a cloud kitchen that is dedicated to serving the volume of online orders.
You do not require a restaurant front or seating to start a cloud kitchen. You can get started with just a kitchen setup.
As the travel industry gets back on its feet, this could be the right time to get started with a travel agency. According to India Brand Equity Foundation (IBEF), the annual number of international tourists visiting India could reach 30.5 million by 2028 and the Indian travel industry could clock Rs. 35 trillion by 2029, accounting for 9.2% of the total economy.
The right strategy would be to focus on any one of the segments – domestic or international – and make efforts to attract tourists from pre-defined markets. This business can also be done online in a more efficient manner.
The real estate industry in India has a lot of potential for streamlining and growth. You can focus on providing transparent and ethical deals to the customer base and start your real estate agency.
According to Niti Aayog, the real estate market in India is expected to grow to Rs. 65,000 crore by 2040 from Rs. 12,000 crore in 2019. You can focus on providing offline services or use the online medium to create a name for yourself in this industry.
Even with the restrictions and challenges all around during the pandemic, the wedding industry in India is offering many opportunities, which can be explored for rapid growth.
One of these could be becoming a wedding planner and helping people properly plan their weddings. As per a recent report by KPMG, the wedding industry in India is valued at $50 billion and is expected to clock an impressive growth rate in coming years.
The rise of modern and internet-based business has given shape to the co-working spaces industry. You can get started and set up a coworking space in your city to serve the businesses that are looking for such a solution.
You would require real estate either by owning or on lease to get started in this segment.
Education is one area where Indians spend a lot of money. As a result, you can start by providing tuition classes to a particular age group.
The classes can be online or offline: whether in groups or one-to-one. Focus on an area of your expertise and get started with your tuition classes today.
Apart from these 10, these are some other areas that you might want to explore as well:
1. Content writing
2. App development
4. Medicine delivery service
5. Career guidance
6. Custom printing solutions
7. Fitness training
8. Graphic designing
9. Mobile repair
The traditional thinking that you require a lot of capital to start your business has now changed. You can get started with a low or zero investment today. These are the best business opportunities in India that can be started with low investment:
1. Sell services online (photographer, fitness trainer, content writer, etc.)
2. E-commerce store: Set up an online store and start selling to consumers across the world. You can set up your ecommerce store for free with Aasaan. Download the app here.
3. Customized gifts: Who doesn’t love gifts, and they give a much better impression if they are customized.
4. E-learning: You can create an online course for learners across the country.
5. Food trucks: They are in fashion, and you can make your own food truck the most popular in your city using your creativity.
These ideas will give you some direction based on your interests and expertise. Do map your skills with the requirements of the business that you want to start.
In case you are interested in selling online, the Aasaan app has a seamless service through which you can sell your products or service to a wide set of audiences on the internet. Create your Free Online Store today.