Several individuals across India have aspirations to become successful entrepreneurs. They have various business ideas in different industries and domains yet a lot of startups fail due to various reasons. If you are deciding to launch your startup, is your idea innovative enough to make it to the top? Are you ready with the perfect plan of action for one of the best upcoming business ideas in India?
The demand for innovative products and innovative business ideas is constant. Many parameters like technological innovations, climate change, socio-economic changes, developments in renewable energy, fintech startups & products, agritech, etc. give rise to such ideas.
Here is a list of the top 11 upcoming business ideas in India:
1) Pollution Mask
A majority of urban areas in India are battling with the issue of air contamination. The Air Quality Index is very poor, especially for people residing in Delhi.
This environmental change is leading to significant health-related issues increasing the demand for air pollution masks.
A business involved in the manufacturing of air pollution masks is expected to grow as masks will sell like hotcakes. These masks can be made available online and at chemists and pharmaceutical stores.
2) Online Grocery Store
Groceries are a basic necessity for all households. And with the hectic work-life schedules and neutral families, people are running short on time to physically visit stores and purchase groceries. They are looking for convenient ways to get groceries delivered.
The online grocery store is a perfect solution and is estimated to grow at an annual rate of 30%. This is because the state of an economy does not affect the purchase of groceries.
To start, an individual needs a website that offers all grocery items. This website must be user-friendly so that customers can easily log on, choose the items they require and make payment to complete the order. You can start with basic grocery items like bread, cereals, milk, biscuits, etc. and as your network and customer-base expand, you can add products from the toiletries and cosmetics category.
Some of the Indian players already operational in this sector include BigBasket, Grofers, Nature’s Basket, Milk Basket, and Reliance Fresh Direct.
3) Smart Dustbin with free Wi-Fi
Sounds uniquely different? This is another of the many upcoming business ideas in India with a promising future. The smart dustbin generates free internet Wi-Fi signals as you fill it with a sufficient amount of waste. The popularity of this idea is indeed growing with technological innovations and socio-economic changes. It is useful in both the domestic and public domains.
Caterers and event planners are using smart dustbin to offer value-added services to their clients. People are encouraged to better manage their waste with free Wi-Fi as an incentive. You can design your smart dustbin or become a trader. You can also associate with the Indian government in support of the Swachh Bharat Abhiyan – Ek Kadam Swachhata ki Aur.
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4) Children’s Play Area
The trend of working parents has increased making it challenging to manage kids. If you love children and can make a moderate investment, opening a children’s play area is the new thing. It is an extremely profitable business idea. However, make sure you stick to quality because parents are concerned about the same.
The play area can have facilities like quality toys, swings, and games for playing and hygienic food for eating. You can also have a visiting teacher to teach dance, music, or other recreational activities. Parents are constantly in search of such places where they can safely leave their children and so, you must carefully plan all the activities and setup.
Some of the play areas currently operating in Delhi and Gurugram include Fun City, Tumble House, Fun Factory, etc.
5) Self-Stirring Mug
The self-stirring mug prepares smoothies, shakes, and other beverages simple and easy. It eliminates the need for a spoon for stirring.
All you need to do is pour in the required ingredients into the mug and press a button to start the stirring process.
The innovative product is one of the popular upcoming business ideas in India and has a very good market. The product is a great household gifting item as well.
6) Online Reputation Management
That day is not far away when physical presence will be taken over by online presence. There were times when people worried about how they carried themselves – what they wore, their manners, their social behavior, hospitality, etc. Reputation was dependent on physical appearance.
However, today, with each passing day, people are becoming more virtual and online presence is gaining importance. Judgments are made based on a person’s online presence. This leads to making online reputation management one of the most lucrative future business opportunities.
7) 3D Printing
3D Printing is gaining immense popularity in India. It is used for manufacturing moulds for making jewellery. It is also increasingly used in the customizable gifts industry and for producing miniatures.
The technology is supplementing the old-school printing process with innovative and advanced solutions. So, if you have the right investment, you can enter the advanced printing industry.
8) Fitness Specialist
Health is a matter of immense importance for all age groups. This keeps the demand for fitness specialists high.
Anyone with mastery in yoga, aerobics or any other form of fitness should start a fitness business of their own.
The business idea requires a low start-up capital with more focus on marketing and promotional activities.
Some of the recent players in this sector include Healthify, Noom, Cult, etc.
9) Virtual Reality
A trending technological innovation causing a major disruption in several fields of business is none other than Virtual Reality.
Therefore, starting a business related to virtual reality gaming or accessories is one of the lucrative upcoming business ideas in India for every entrepreneur and can turn out to be extremely profitable.
However, the important thing to remember and consider is that this business idea requires a large-scale investment.
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10) Investment Advisors
The current generation knows how to save money but is unaware of the right schemes for investment.
They look at old and traditional methods of gold, fixed deposits, etc. An individual good with finances, accounting, and market analysis should start offering investment advisory services.
He/she must inform the common layman about profitable avenues of investing along with changes in government policies.
As you establish a reputation in handling people’s money and helping them with profitable investments, you will be able to earn large amounts of money for yourself as commission.
In the coming years, many people are expected to lose jobs because of automation and economic slowdown.
New technologies will also take over the jobs of most of the workforce. And the first thought after a job loss is to start a business.
This will create a high demand for mentors and consultants who provide valuable information about startups in specific domains.
You can start by providing inputs from a preferred niche of your choice. This information can be about the corporate and startup scenario. One of the interesting ways to do this is to start a blog and build an audience for your blog. Some of the consultants and mentors today are bloggers and charge a bomb for consultation.
If you plan right and keep an eye on the various trends of the market, you can easily spot upcoming business ideas in India and commence your own business. It is not necessary to make large investments and profits can be earned even from small businesses with low investment. The idea is what matters more.
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Q. What are the most common issues faced by new entrepreneurs in framing up a business idea?
A. Problems occur at every step, may it be elementary or in the long run. From seed funding to procuring a talented team, from seeking clients to pitching your stance and strategy ahead, there are a number of issues that an entrepreneur faces.
Q. In which sector is it easiest to start a business?
A. There’s no such sector that is easiest to start with, it depends on a person’s expertise and inclination as to what is better. Also, it’s observed that for beginners coming up with an idea in the service industry is always better and easier.
Q. What kind of business can I start without any money or capital invested?
A. Well, again, this revolves more around the service industry. From freelancing to blogging and reviewing other people’s work, such things do not require capital to be invested initially.