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Business Opportunities in Various Sectors

There are innumerable opportunities exist in the business environment but one requires a vision to identify the available opportunities. Various business opportunities available are like the following:

1. Textiles
2. Software
3. Tourism
4. Engineering Goods
5. Automobile
6. Ayurveda and Traditional Medicines
7. Packaging
8. Healthcare Sector
9. Media
10. Floriculture

Textiles

India is famous for its textiles from the very beginning and every region has its own unique style of dressing which thus offers a wide and diversified market.

Moreover, India has a huge potential to grow as a market leader in the textile sector. Surat, Ludhiana etc. has emerged as an export hub of the textiles. Therefore, a better understanding of the textile industry and the customer needs helps in discovering the potential it holds.

Software

India is having large number of the software engineers with leading business in software. With growing business in the software industry and the increasing business outsourcing from the foreign companies is providing tremendous opportunities for the entrepreneurs to invest in this sector.

Tourism

It is one of the most promising and fastest growing industries as India has the potential for tourism development. India covers 15% of the world population and shares only 0.40% in the world tourism.

It is not because of the lack of tourism in the country but because of the undiscovered tourism opportunities. Therefore, entrepreneurs has the opportunity to helps in discovering the tourism potential as it is being estimated that India can become the number one tourist destination of the world.

Engineering Goods

India is one of the largest exporters of the engineering goods. Therefore, entrepreneurs can earn by meeting the increasing demand of the engineering goods.

Automobile

India has become a hub of producing low cost automobile parts and is very rapidly becoming hot spot for the automobile industry. India is manufacturing large number of cars with strong engineering know-how but still there is some undiscovered segments which offers the wide opportunities to the entrepreneurs.

Ayurveda and Traditional Medicines

India is known for its Ayurveda and herbal products. With the increasing demand of the ayurvedic products, it is offering a unique business to the entrepreneurs.

Packaging

Indian business is growing in every field like agriculture, consumer goods, infrastructure etc. So, there is a huge demand of the packaging material like plastics. So there is a big opportunity for the entrepreneurs in this sector also.

Healthcare Sector

Indian healthcare sector is at the growing stage and with the growth in the medical tourism this sector will offer wide prospects for the entrepreneurs as there will be cost-effective treatments.

Media

The media industry is offering a wide scope to the entrepreneurs. There is a boom in television, print media, advertising, radio etc from the past few years. Therefore, this particular sector is the most promising sector as it is about to grow at a double rate.

According to the report of FICCI (Federation of Indian chamber of Commerce and Industry), innovation, marketing, Distribution, competition, digitization etc will give boost to the media and entertainment sector in the coming years.

Floriculture

With the growing demand for the fresh flowers, this sector is opening up a new opportunity for the entrepreneurs. Although Indian Floriculture segment is small and unorganized, but as it has a huge potential and with the increasing demand one can think of business in this sector.

Toys

This industry is the evergreen industry. India has the potential to make safe and cost effective toys. Although china is giving a tough competition in this sector, but the Chinese toys contains toxics where India has an advantage to produce safe and durable toys.

Biotechnology

After the software industry, biotechnology sector has the highest potential and offers opportunity for the entrepreneurs. It has been proved that agricultural biotechnology has a huge impact on the productivity.

Therefore, huge importance is being given to the research and development to produce crops which are resistant to heat, cold, insects etc. It also helped in producing improved quality food products. With the increasing importance of the agro-biotechnology, it is providing various options to the entrepreneur to start a business in the field of horticulture, poultry, dairy, agriculture and production of fruits and vegetables.

Recycling Business

E-waste is rising at an unmanageable speed with the development in the technology. According to the UN report, computer waste will grow about 500 % from 2007 to 2020, alone in India. Therefore, this alarming problem opening up new business opportunity for the young entrepreneurs to manage e-waste and develop techniques to dispose the e-waste.

Energy Solutions

India has a huge population and so are the consumption needs of the populated country. It is difficult for the nation to generate power with the limited resources.

Therefore, in the power starved nation like ours, there is a need of the cost- effective and power saving methods. Government has already initiated steps to use cost effective methods by implementing the national Solar Mission. Therefore, solar engineering is a big opportunity for the entrepreneurs.

Organic Farming

This sector is prevalent in India since long but with the increasing demands of the organic products especially in foreign is opening up wide opportunity for the Indian entrepreneurs.

Although farmers in India are focusing on the organic farming, but still are not able to meet the increasing demand. Therefore, there is a huge scope for the entrepreneurs to invest in this sector and thus earning large benefits.

Corporate Demands

As large companies are opening up their offices in India, therefore, there is a huge demand of the formal clothes. Moreover, there is an increasing trend of the corporate gifting, so one can try his luck in this sector also.

Social Ventures

India is a hub of social problems. Social entrepreneurs are the persons who provide solutions to the social problems. Therefore, to provide solutions to the social problems, entrepreneurs have started their social ventures.

For e.g: SEWA, Lizzat pappad etc. though it is one of the challenging tasks but is offering opportunity to the young entrepreneurs to step in.

Franchising

After the Liberalization, Privatization and Globalization in 1991, India is opened economy. Franchising helps in spreading brands all over the world. So, it is a good opportunity for the entrepreneurs to invest in franchisee business as it has well maintained image and low risk.

Education and Training

Competition in the education is increasing. There is a good scope in the education sector and training sector with the increasing demand and competition. Students prepare endlessly for the competitive exams be it for the government exams or training courses.

Therefore, entrepreneurs has the scope to provide the training and education facilities at the competitive rates. Moreover, India has the potential to attract students from the abroad which can open up large opportunities for the Indian entrepreneurs in this sector.

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