What are the best small business opportunities in New Delhi India? What are the best investment opportunities in cities such as New Delhi, etc.
Are you interested in starting a business in New Delhi, India and you seek information on the best franchise business opportunities in New Delhi for 2020? Then I advice you read on.
There’s no blanket formula for becoming a successful entrepreneur. But your chances of achieving success would be brighter if you have a knack for identifying potential gold mines and analyzing them extensively. India is one of the fastest growing countries in the world. And the fact that the country is undergoing rapid development has opened the door of opportunities to investors.
So, if you are interested in finding a good business to explore in India, then below are the top 10 small business opportunities in New Delhi for you to start today.
Top 10 Small Scale Business ideas & Opportunities in New Delhi India for 2020
With an annual increase in the number of tourists that storm India, this sector is a booming industry that entrepreneurs should focus on. India has a diverse culture and rich heritage. In addition, there are beaches, hill stations, heritage sites, wildlife, and rural life. So, the country has virtually everything foreign tourists are looking for and has a lot to offer tourists.
However, the tourism sector in India is still poorly organized, as the country lacks trained professionals in the tourism and hospitality sectors. Because the demand continues to grow with each passing year, any business in this sector will thrive in the long term.
Recording a 26% increase in domestic sales in 2010, the automobile industry in India is the world’s second fastest growing automobile market after China. This staggering statistics drive home the fact that India is a hot spot for automobiles and auto-components and a potential sector for entrepreneurs.
In addition, India is one of the world’s largest manufacturers of small cars with a strong engineering base and expertise. So, entrepreneurs have many segments of this industry to focus on.
India is well known for its textiles. In terms of apparels, each state in India has its unique taste and fashion sense. And due to the increasing demand for garments, India is more than likely to grow into a preferred location for textile manufacture.
Already, places like Ludhiana and Tirupur now have manufacturing companies that produce textiles for export. But there are still more than enough opportunities for investors. All you need is a better understanding of the market as well as customers’ needs.
With one of the world’s largest pool of software engineers, India’s software and services exports are likely to rise with export revenue growth projected at about 15% to hit about $60 billion by 2014. So, Indian entrepreneurs can set higher targets in hardware and software development.
ICT enabled services have contributed immensely to the growth of India’s economy. More companies are outsourcing contracts to Indians, and more business-to-business solutions are required with each passing day. So, entrepreneurs can capitalize on the increasing demand for these services.
5. Engineering goods
With an annual growth rate of 30.1%, export of engineering goods is one of the fastest growing businesses in India. The government in India has set a target of $110 billion by 2014 for total engineering exports. So, the booming demand for products from the Indian engineering industry is worth capitalizing on by entrepreneurs.
Agriculture is one of India’s strongest sectors. But inefficient management, lack of infrastructure, and losses of food grains and fresh produce due to proper storage facilities remain huge threats to this sector.
If you have a knack for agriculture, and you can add value with proper management and marketing measures, then you have many opportunities in the agriculture sector. Processed foods are always in high demand, be it fast food, packaged food, or organic food. Same runs true for fresh fruits and vegetables. And there are export opportunities as well.
7. Traditional medicine and Ayurveda
India is well known for alternative medicine; herbal, homeopathic, and ayurvedic medicine. With the increasing awareness about the harmful side effects of orthodox medicine, there is (and there will always be) a huge demand for natural medicines and remedies.
So, if you are interested in natural therapy, you can make real money off of that in India. Homeopathy, ayurveda, and herbal medicine are the three branches in particularly high demand.
8. Organic farming
For a very long time, organic farming has been the major agricultural practice in India. With the increasing awareness about the harmful effects of agricultural products developed with fertilizers and other chemicals, the demand for organic products keep increasing, especially in developed countries.
Many Indian farmers are practicing organic farming on a small scale, but this hasn’t met the huge demand for these products. This offers huge opportunities for those who can promote organic farming on a large scale.
9. Energy solutions
India is a power-starved country, and there’s a pressing need to develop cost effective power saving devices. And there’s a booming demand for cheap sustainable energy saving devices. Presently, the government of India is focusing on boosting solar power generation in the country. So, there’s a huge business opportunity for entrepreneurs in the energy sector, especially in solar energy.
Like the software sector, biotechnology opens up huge opportunities for entrepreneurs. Biotechnology can be applied in a wide range of fields including horticulture, sericulture, poultry, agriculture, and production of foods and vegetables. If you have a background in biotechnology and would like to start a related business, India is certainly a fertile ground.