Top 10 Profitable Business ideas in India for 2020
People in a democratic country like India have every right to question the government in power. However, it’s not always correct to criticize the government especially when we require jobs. We should instead examine our own conscious and question ourselves. Even if governments generate millions of jobs, will that solve our rising employment crisis? certainly not.
What I have said above does not mean I am repudiating the fact that the responsibility of government is to foster a favorable ecosystem for entrepreneurship. However, it is you who have to generate employment for yourself, your family and of course for other unemployed people by starting business ventures.
Another problem with my fellow Indians is that most of them want to start a new and highly lucrative type of businesses. They don’t wake up to the ground truth that there are already many areas where potential startups can be created.
Here are top 10 best and innovative small business opportunities that luckily not only demand low capital investment but also have a vast local and national market potential today as well as in the upcoming years in India.
1. Healthcare clinics
Health issues are very common in India not only in people living in urban areas but also in people living in villages.
While over 60% of the country’s population lives in rural and semi-urban areas, surprisingly more than 80% of healthcare facilities are located in urban areas. That means we need to setup healthcare facilities where they are needed most i.e. in rural and semi-urban regions.
Entrepreneurs should take full advantage of a large number of certified healthcare physicians staying unemployed and the easy availability of startup finances and launch healthcare clinics in remote villages, towns, and semi-urban areas.
2. Wedding planners
Indian wedding has turned into an opulent affair, something that should impress people no matter how expensive it gets and each year lakhs of wedding events take place across the country.
Indians nowadays want to celebrate lavishly marriages and you know such events require meticulous planning and attention in detail. This has resulted in the demand for wedding planners who have the ability to plan and organize everything for throwing grand wedding events.
To take a successful plunge as a good wedding planner, you require excellent planning, organizing & communication skills and off course knowledge of fashion and local rituals and customers.
Many Indians are also becoming accustomed to exotic location weddings. Wedding planners should, therefore, capitalize on this new trend as well.
3. Cement tiles manufacturer
The Indian cement tiles market is still largely untapped and, moreover, experts predict its explosive growth in the upcoming years.
Cement tiles are widely used for flooring in bathrooms, kitchens, patio and even on a terrace. With very low industry competition, simple manufacturing process, low input costs and most importantly the great ease of access to raw materials, aspiring entrepreneurs can confidently start cement tiles manufacturing business in India.
4. Vacation rental business
Statistical surveys show that the tourist arrivals in India is increasing year on year and you know foreigners who come here for spending vacations need accommodation.
Vacation home rentals are constantly growing in demand everywhere including India because they prove affordable as well as flexible over hotels. It is even believed that vacation homes will lead to the collapse of hotels in just a few years, says Entrepreneur Magazine.
5. Recycling Business
India on each passing year is drowning in waste. The country largely lacks effective initiatives of recycling plastics, paper and other forms of recyclable waste.
With almost negligible competition on the ground, entrepreneurs have multiple opportunities of making money by turning waste into useful products. Not only can local entrepreneurs save many already flawed landfills but it can also prove one of the best employment solutions for the country’s large number of unemployed youth.
6. Mineral Water Bottle Plants
Indian aspiring entrepreneurs can also look forward investing in mineral water bottle plants as the unavailability of fresh mineral water is one of those chief reasons that has been found responsible for demotivating majority of foreign tourists to pay a visit to India.
7. Vegetable Seeds Production
No doubt that in a big country like India where 60% of the population relies on agriculture, there would be a significant number of vegetable growers and farmers who require vegetable seeds. Interested entrepreneurs, particularly rural ones may hence start a vegetable seeds production business.
8. Mushroom Cultivation
Mushroom especially button ones are very popular in India, mostly among our vegetarian population. Despite being a favorite to many Indians, the production of mushroom is still limited in our country, causing the fungus to be costly than meat and other vegetables.
With the easy availability of dung and paddy straw, it is much easy for our entrepreneurs to start a mushroom cultivation business.
9. Poultry farming
A country with diverse communities consuming high quantities of chicken and eggs, what other than starting a poultry farming business would be a compelling small business opportunity for local entrepreneurs.
10. Bio-diesel business
The promotion of bio-diesel use is not only due to the need to reduce greenhouse emissions, but also to find cheaper alternatives to standard diesel.
The daily consumption of diesel in India is in millions of barrels and sadly all of it is imported from other countries. Therefore, the production of bio-diesel within India has massive market potential and can offer customers both a cheaper and cleaner alternative to diesel.
The cultivation of Jatropha plants can be used to produce bio-diesel, which can be grown on lakhs of cultivable wasteland hectares.