In this article, we first look at the general business landscape, then discuss the ideas and opportunities. We look at 21 Business Ideas suitable for India. India is one of the most populous countries in the world. The Indian society is grouped in a caste arrangement. Members of each caste enjoy certain privileges and benefits. Those who fall into the lower ranks often face hardship and live in poverty.
In 2019, about 26% of the population in India was between 0–14 years. 67% were within the 15-64 age bracket, and 6% were above 65.
The Indian business landscape is poised for growth in various areas due to some factors. These include international trade, government stimulus, and an overall strong developing country. India has a young population that is rising to leadership and technology-driven. With growth and innovation, there are several business opportunities in many sectors.
Starting their business is the dream of every entrepreneur. Many newbie entrepreneurs find themselves stuck due to a lack of funds, and they don’t know how to raise the needed capital for their business. For each business opportunity, I would discuss the startup cost and potential and how to get started. You should be able to identify at least one that fits the bill for you. Our list of 21 Business Ideas suitable for the Indian market is in no particular order. It covers diverse industries, and many of them involve low startup capital.
1. Social Impact Investment Funds
Social impact in India has skyrocketed. Consumers are smart. They know that what they consume affects them and the environment. This business idea involves raising funds from groups of investors. You would reinvest in socially responsible and good causes that people identify with. Social Impact funds make our list of 21 Best Business Ideas for India.
There is a huge demand for social impact in India. For example, only a little above half of children enrolled in standard five can understand text meant for standard two. Also, 21% of mothers have access to antenatal care.
2. Cheap Home Solar Energy Setup Company
There is a huge gap in the supply of energy in India. This is an area you can look into and find a lot of demand. To execute this, you would need to invest in solar equipment that people can install in their homes. These can be kept on rooftops or balconies. Solar energy would charge the unit and serve as a power source for the entire building.
It is even possible to get initial capital by requesting prospective customers to preorder—this money you can use to purchase the solar panels and get started.
3. Community Generator/ Energy Supply Control
Drawing inspiration from the previous business idea of solar panels is the next business idea. It involves generators. To execute this, you can approach different communities to verify their needs. With this approach, you eliminate guesswork. You have conducted interviews with stakeholders to identify the need. 21 Best Business Ideas for India include energy generation.
This business idea is derived from the endemic problem that utility companies face to provide energy to every country’s citizens. That is, there is a gap in the distribution channel.
4. Internet Infrastructure Building Company
There is an increasing demand for broadband internet in India. Internet Infrastructure makes our list of 21 Best Business Ideas for India. The speed and the available bandwidth are not sufficient in relation to the demand. This is particularly visible in the rural parts of India. Even large corporations feel the pinch, despite spending heavily on reliable internet. This leaves a gap that the discerning and ambitious entrepreneur can easily fill.
5. Indian Culture E-Commerce Store
It is a known fact that Indian culture is loved and admired in many places around the world. Many people would like to have authentic art pieces in their homes. Should you be able to implement this, you are going to make a killing. This is a low-cost venture that would bring in stupendous returns. You could begin by going into partnership with street vendors.
6. Warehouse/ Inventory Management for eCommerce
Sticking with e-commerce, a warehouse management company to fulfill orders is bound to be a huge success.
You can begin babies in portions of land for warehouses—partner with a shipping company to handle Logistics. You would make a profit from warehousing as well as shipping. This is a large-scale business idea with the potential for huge returns.
7. Mobile Payment Solution
In India, funds transfer takes up a substantial chunk of business transactions. In the past majority of businesspeople were comfortable paying with cash. However, this trend is changing. With the rise of mobile payments, electronic funds transfer has come to stay.
A large part of the population has smartphones, which they use for social media, entertainment, and instant messaging. You can leverage this to get your business up and running.
8. Compliance and Regulations Management for eCommerce Stores
E-commerce ideas are ripe for takeoff in India. This reality comes along with compliance and regulation needs. You would provide solutions to eCommerce firms so that they can operate legally. This idea is bound to be a success because the government always looks in the direction of regulations to guide such firms’ operations. One thing that you require is working knowledge of the industry regulations.
9. Blockchain Tracked Bank Ledger e-commerce transactions
Blockchain is a fast-growing industry. It is obvious that sooner than expected, blockchain is going to take over the Indian marketplace. The government is aware of this. They are taking action towards leveraging technology in many sectors of the economy.
The current system is seriously flawed. It needs a complete overhaul. Blockchain provides an answer. Transactions are verifiable in the blink of an eye, and large volumes of transactions can occur simultaneously.
10. IoT Home Consultant
This business idea requires low startup capital. All you need to do is to locate a store that sells the equipment needed in smart buildings. Also, engage engineers and technicians that would help you install. Then you partner with the equipment sellers to direct some of their customers your way. You could even be lucky enough to find Clients that upfront for your services. That’s how juicy this business idea is.
11. Solar Electricity Smart Grid Company (IoT)
Staying with the IoT market, there is a growing need for reliable sources of energy. Smart buildings require constant electricity. At the moment, there is an erratic supply in a number of locations. This opens up a gap that entrepreneurs can fill. The company would need to set up an IoT network and sensors for each building attached to the grid.
This enables electricity usage to be monitored from a remote location. During the peak period, you can redirect power to certain areas and restore the off-peak period’s link. This idea is potentially capital intensive, but it is possible to get support from the government.
12. TV Ad Specialist Company
Media consumption in India has increased astronomically. Soap operas and TV shows have become a favorite pastime. It is not unusual to find families gathering in the living room to watch a soap opera. With this comes a demand for advertising. Indeed, manufacturers of daily needs and household products and are your target market.
What you need to do used to have a profile of your target audience. Have a persona of your respective customer. Identify the age brackets, the influences they follow, their favorite TV shows, and other useful information about them. This will increase the effectiveness of your advertising.
13. Mobile Ads Specialist for Businesses
The use of mobile phones in India has skyrocketed. Usage patterns of mobile phones in India is distinctly different from that of the United States or Canada. However, there is a continued and growing demand.
You could start as a low-cost business. And scale up as demand increases. The more your business name gets out there and begin to get testimonials and social proof, it is then possible to increase capacity. Reinvest a portion of your profit into the business and expand your capacity.
14. Biometric Sensor Company
Biometric sensors are used for identification. It is already widely used in different parts of the world. So it is not a new technology as such. Having said that, there is a growing need for higher security measures in business. In no distant time biometrics will be used to unlock almost everything.
You need to make some investment to execute this idea, but they are great rewards to come. You are likely to be patronized by multinationals if you handle the business right.
15. Rural Drone Delivery Company
Drones are widely used for a wide variety of purposes. Drone delivery joins our list of 21 Best Business Ideas for India. Drones take aerial photographs, they carry parcels, and so on. The demand for delivery to large cities is increasing. As internet services improve, the demand is going to increase even more.
Drones can be built to move goods safely. Rough terrain is not an issue. To implement this idea, you would need to partner with local businesses that need regular shipments. It is also good to implement local search optimization. Also, register your business on google business so customers can find your business.
16. DDoS Attack Prevention Security Company
Cyber attacks are becoming more rampant. With the increase in the use of broadband internet, hackers are more likely to target growing companies. This is because they are seen as low-hanging fruit. After all, they do not have well-built security defenses.
Many small and medium businesses do not have the knowledge or equipment to defend their assets from cyber attackers. You can fill the gap by providing services to identify and prevent attacks on small businesses.
17. Web Designer
This business idea is not novel or revolutionary. It has been in existence from way back. It’s just that there has been astronomical growth in demand that the supply of solution providers doesn’t come close. Reports show a terrific number of small businesses seeking to create websites for their stores. This is a low-cost business idea. You need the required skills and a good computer to hit the road.
18. Online Conversation Specialist
Current trends show a growing need for small businesses to engage customers online, particularly on mobile. Online conversion makes our list of 21 Best Business Ideas for India. The reason is not far-fetched. The population which constitutes most potential buyers is busy on the smartphones searching for the end of the timeline on their social media platforms. They are glued to the phone, scrolling endlessly.
An online conversation specialist would help convert visitors to buyers. This is also a business idea with low entry capital requirements. You would need to partner with businesses that have established websites that need to convert visitors to buyers.
19. International Trade Consultant Company
As international trade grows, there is a demand for organizations to help other Indian businesses expand globally. Industrial knowledge and product knowledge. It also requires a knowledge of supply chain distribution.
20. Disaster Relief Location Finder
The rise in the use of mobile has also opened up opportunities for disaster support. The idea of this is to install sensors on high rise buildings. This installation is most critical in areas prone to natural disasters like hurricanes.
This way, it is easy for sensors to pick up early signs of disaster, and the people living within the area can take appropriate action. The government can also use this to provide disaster relief.
21. Peer to Peer Business Lending Company
Peer to peer lending has gained popularity in recent times. Peer to peer lending concludes our list of 21 Best Business Ideas for India. The value of this market was $67.9 billion in 2019. It is projected to increase even further to reach $558 billion by 2027. This market involves sourcing loans between individuals without involving financial institutions. There is a growing demand for this because people are becoming wary of bank loans. This category of people can fall back on peer to peer lending to access funds.
To implement this idea, you would need to build a secure platform where people could create profiles. Then you can link lenders to creditworthy individuals.
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