GENERAL BUSINESS LANDSCAPE IN INDIA
India's business landscape is poised to grow in multiple areas due to various factors such as international trade, government stimulus, and an overall strong developing country. With a young population that is reaching leadership and technology that drives growth and innovation, there are several business opportunities in multiple sectors that we will explore today.
For each business idea, I will talk a little about the opportunity behind it, its startup cost potential, and where you can start running. There will certainly be a successful business idea here for you.
1. Social Impact Investment Funds
Social impact is becoming a priority in India as consumers are smart and know what they consume has an effect on them and on the earth. This business idea involves raising funds from various groups of investors to create a fund that will invest in socially responsible and positive initiatives that impact the earth.
There is a high demand in India for social impact, instead of simply creating a company that makes money, due to the rather high refinement of people.
2. Economic home solar power installation company
There is a great opportunity for residents of India to generate their own power and save money. For this idea, you would buy and install solar equipment for people to install on their roofs or balconies as apartment living is popular.
Solar could power the main battery for the individual or building to provide additional energy. To execute, you could start by finding 10 people interested in this service who will pay you before the job is finished, and then you have the money to buy solar panels, creating a low initial investment for this business idea.
3. Community Generator/ Energy Supply Control
Inspired by the previous business idea of installing solar panels for the home. This business idea involved the development of electric generators that can store additional energy for a small community. For this idea, one could approach different communities in Indian cities or towns to find the groups that need it.
This business idea for India stems from the problem that utility companies have of providing energy consistently and reliably to every person in the country. There is also a heavy dependence on coal that will eventually have to be switched to electricity for sustainability.
4. Internet infrastructure Building Company
There is a significant growing demand for the strongest and best Internet in all of India. Although there are currently providers, Internet speeds are lacking in rural India and even some problems with the connectivity of large companies. This leaves the business idea of starting an Internet infrastructure in perfect light to perform.
Although this business idea is not a low cost, it would have a very positive impact on people and could make a lot of money.
5. India Culture E-Commerce Niche Store
E-commerce is growing at a substantial rate. This is mainly due to access to cheap labor and goods, as well as the ability to ship internationally at a fraction of the cost it used years ago. This business idea refers specifically to the sale of cultural objects from India.
Since many people around the world appreciate Indian culture, many would like to have authentic works of art in their homes. By configuring an e-commerce store to meet this, you can solve the problem. The company would be a low cost to get started and you could get started by collaborating with your favorite street vendors.
6. Warehouse/ Inventory Management for E-Commerce
Again, at the expense of the e-commerce trend, the e-commerce warehouse management company would provide satisfaction for e-commerce stores. Instead of an e-commerce store that sets up its own distribution channels, it purchases fleet trucks and warehouses to store goods, this company would do it all for them.
You could start by buying large pieces of land to hold people's goods. So use a shipping company to send them to the places where they have to go, this business idea could make money by keeping people's goods in the warehouse. In addition, you can charge for each shipment sent. This is a large-scale business idea but it also has the potential to make a lot of money.
7. Last-Mile Delivery Solution Company
In India, many shipping companies are facing the problem of having extreme difficulties in providing delivery services in some rural areas. This is because the road infrastructure is not sufficiently developed or is far from everything else. With this idea, you can provide last-mile delivery solutions by setting up a warehouse on the edge of the city.
So once the other shipping company arrives there, manage the final miles of the trip. This may involve purchasing a fleet of scooters or shipping trucks to deliver shipments for the last two miles. Places where regular shipping companies are unwilling to do.
This company would need investments to finance the warehouse on the edge of the city, as well as vehicles or drones for the last mile delivery service.
8.Blockchain Tracked Bank Ledger for E-Commerce Transactions
Blockchain is a growing technology and will become an essential part of the business in the Indian market in the coming years. The government has set up support funds to help develop technologies like this and the Internet of Things, leaving this business idea ripe for making money.
The blockchain tracking bank ledger would allow e-commerce store owners to track where their payments come from, verify that they are safe, and be able to accept money faster. There is a big problem with the current "Cash on Delivery" system where the money is collected only once the goods have been delivered. This creates a big cash flow problem for stores that could be solved using this reliable and verified technology.
9.IoT Home/ Builder Consultant
The Indian government has published plans to support the development and innovation that is taking place with the Internet of Things technology. This support is a huge opportunity for businessmen and women to create a startup to serve this area. A related business idea is to be an Internet of Things Home Builder / Consultant.
You would work with existing developers or homeowners to turn their living space into one that is automated as they please. By transforming their normal home into a smart home.
10.Solar Electrical Smart Grid Company (IoT)
| Solar Power Grid |
Once again, with support for the IoT market and the growing need for more reliable energy sources, there are great opportunities to provide a solar electricity grid. This company would install internet networks and sensors for every house or building connected to the electricity grid. From there, the use of electricity could be monitored from a remote location.
During peak power demands, the smart grid company would have the option to redirect energy to certain areas to provide enough energy for peak demands or to restore energy in an area that has lost energy from part of the electricity grid.
This idea would be expensive but it could also potentially be subsidized by the Indian government.
11. Biometric Sensor Company
Biometric sensors are the type of sensors that scan the eye or finger to specifically identify an individual. With the growing need for higher security measures and support from the Indian government for the Internet of Things technology, it won't be long before people insert biometric sensors into everything.
This business idea would develop and sell these sensors to companies that would install them in products or services. A medium-sized investment would be needed to make this happen as sensors should be rented or built.
However, there may be high financial rewards as multinational corporations would probably like to do business with you as they increasingly use biometric sensors.
12.Rural Drone Delivery Company
As mentioned above, there is a demand for the provision of shipping services to places outside the big cities. The demand for delivery in these areas will only increase as Internet access increases and improves.
The rural drone delivery company solves this problem by providing services to rural areas in the country. Drones can be easily built to transport large parcels safely. Furthermore, they don't have to worry about rough terrain to reach these rural parts and they can simply fly.
To start this business, you would like to buy a couple of drones and then start collaborating with companies in rural areas that require regular shipments.
13.DDOS Cyber Attack Prevention Security Company
DDOS attacks (where hackers send so much traffic to a website that blocks the server) are becoming a huge threat to some companies in India. As Internet speed increases across the country, more and more hackers will target companies as they grow.
This idea solves this problem by creating a company that can identify DDOS attacks and prevents them from occurring in the first place. Although some companies are already doing this, there is a lot of room to make money in this area. It would be a medium-cost activity due to the server space needed, as well as the software and coding required to create a DDOS prevention company. However, the creator could charge a lot of money for the service since some companies could lose thousands of dollars in a few hours if their website crashes.
14. Wifi Installation Company
As I said earlier, the Indian government is spending a lot of time and money on improving Internet access for all. With this support, there is tremendous growth potential in providing Wi-Fi Internet solutions, as mobile phones get faster and customers demand the Internet everywhere. This company could start at a low cost since the purchase of consumables for the installation of the wifi router is quite inexpensive.
To realize this business idea, you could start by approaching shopping centers and areas with a lot of pedestrian traffic, talk to the owners and see if it is possible to set up an agreement to install the Wi-Fi hotspots. Once installed, you could make it open to users for free use and you could sell the data you get from that. Otherwise, a subscription or charge per minute may apply.
15. International Trade Consultant Company
As international trade grows, there is a continued growth in exports and imports. To help this growth, you can start a company that helps other Indian companies expand their business globally by leveraging your expertise and knowledge about shipping and handling products worldwide.
This idea continues to grow in popularity as the business grows. Another approach is to help businesses in other countries manage their trade in India. With the background in international trade, start-up costs may initially be lower.
Now that you have these ideas, what are you waiting for? Let me know in the comments.
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