India has the largest youth population in the world. The fact that India has demand, demography, and democracy will make India business landscape grow in multiple areas. With a young population that is rising to leadership and technology driving growth and innovation, there are several business opportunities in multiple sectors that we are going to explore today. India is currently a leading center for both cutting edge technology and disruptive innovation.
If you manage to find a stable place for your business to thrive, which can seem difficult in this rapidly growing world, then India is a place which can massively boost your new business, and without doubt, it’s because India is one of Asia’s fastest-growing economies.
Let’s have a look at some of the benefits of starting your business in India.
AN EDUCATED AND YOUTHFUL NATION
India has a rapidly growing population of 1.35 billion, with a median age of 25.1 years, according to a census report; the US citizen’s median age is above 36. Out of 1.35 billion people, most are educated enough, but unemployed and waiting to work in a business like yours. India is a source of cheap and reliable employees, which are essential for a business to thrive. This kind of population in any economy has only given a long-term boost, like for China in the 80s.
CHEAP TO START
Money can be a huge problem when it comes to setting up your first business, but India can be unbelievably cheap. The cost of the basic amenities for setting up a business, like transport, labor, infrastructure, and food, is much more affordable in India than in countries like the US, UK, and even other countries in Asia. With more business-friendly laws by the central government of India, the overall cost of starting up a business has reduced sharply. Not only will you be saving money, but you will also be receiving something worth the money you spend on it.
INCENTIVES AND OTHER FACILITIES
The government of India has come up with several incentive schemes, loans, and facilities for its aspiring entrepreneurs, for example, the simplified MSME (Micro, Small and Medium-sized enterprises) registration. As the businesses on this level do not have any financial backing, the government helps them with training, incentivizes their products, and incentivizes their interest on the loans taken.
HIGH DEMAND IN MARKETS
The consumer spending in India is around 59%, which shows us that markets in India are waiting to explode. India is among the top countries in smartphone and internet usage, and according to the retail chains and brands, there is a 9-12 percent increase in the sales of consumer electronics every year.
The Indian economy is going to be among the top 3 economies in the world, after the USA and China, as it grows by 7.1% every year. This fact alone should be enough proof that India is growing at an exceptional rate.
Starting your own business will provide you with an opportunity to employ yourself and be more creative, unlike having to work for someone else, but most importantly a business can provide you with a consistent source of income, and can be passed on to your generations, who will not have to start from scratch like yourself.
Starting your own business is everyone’s dream. However, most budding entrepreneurs see their dreams nipped in the bud due to paucity of funds for investment or profitable business ideas. Should you possess some special skills, you can definitely start your own small business with low investment.
Finding the right business idea is often the most difficult part of setting up a business. For those who want to start a business need a little inspiration in finding that elusive beginning of an idea. To give you a heads-up, in this book we list 1049 business ideas in India for you with suggestion and required information. If you are passionate about an idea, you can always pursue towards it.