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India is today growing as a hub for entrepreneurship and innovation while economists and business people make predictions of which country will claim the number two slot in the global economy, Asia's rising giants–China and India.
If you are wondering that you want to start business in India and wondering which sector is emerging as a leader? We, at The CEO Magazine have curated a list of industries that have the most potential for successful start-ups. For every small business or entrepreneurship initiative, a business needs supportive eco-system to nurture them. The new -age entrepreneurs today are smart and start their business with due diligence.
The eco-system they need has core in the incubation facility within the business that enables these next generation entrepreneurs to dabble in incremental innovation, funded by angel funding drawn from the surplus generated by the cash flow of the business. The emerging sectors in India are:
Technology is the core of every business today, be it the core products or services, or management of the them with technologies like CRM, the IT sector has been India's sunshine sector for quite some time now. This industry has contributed considerably to changing India's image from a slow developing economy to a global player in providing world class technology solutions.
Communication traditionally to communication today, the change is significant and evident of the growth. India's telecom story is only getting better every day with millions of mobile phone subscribers, a huge % of which has smart phone penetration. The growth of enterprise mobility in India is well fuelled as the Telecom Regulatory Authority of India (TRAI) too is targeting a 10-fold increase in broadband subscribers to100 million by 2014.
Amidst the recent COVID_19 virus outbreak around the world, every industry is seen today facing the troubles, the healthcare and pharmaceutical industry however is one of the few which are in high demand. The investment in healthcare start-ups is hence essential.
The sector holds the power of stimulating growth as the Indian healthcare industry. Also has advantages over other developing countries in becoming a global hub for medical tourism. The medical treatment and educational services in India are a fraction of the cost in developed countries.
India's infrastructure growth has been exponential over the past decade. Being the fourth largest and probably the second-fastest growing economy, with infrastructure being one of the cornerstones. The infrastructure industry in India is inclusive of roads and highways, railways, aviation, shipping, energy, power or oil & gas. Which are usually initiatives of the Indian government and the various state governments.
Retail industry is basically the last step in the chain that sells products directly to customers. When it comes to the Indian retail sector; it has been allowed with 100% FDI in single brand retail, which was earlier capped at 51%. Today, only a small part of retail in India is organised and the entrepreneurship opportunity remains.
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