The economic crisis is not leaving its colors, the world is still managing to pull their financial statuses together. And while some countries are in clear debt, some are booming. Such is the economy of India, with a skyrocketing population; the economy is majorly self-sufficient with its resources taking care of its citizens. This makes India a magnet for western brands and brings about great entrepreneurial opportunities.
Table of Contents
1. Tourism
Everyone is fascinated by the scenic beauty and cultural offerings of the country. All the media attention that India is getting by the arrival of Hollywood celebrities, many all over the world are putting India on their list of must-go for vacation spots. From beaches to hill stations, to religious sites India has everything a tourist is looking for. A great opportunity for any entrepreneur to bank on.
2. Textiles
The fashion industry is at the boom, Indian designers are making a mark with all their cultural influences on the world. With readily available fabrics, for the consumers and designers, the industry will see a lot more money. This is where the textile manufacturing industry plays a crucial role; India has ample designers, and consumers but very few textile manufacturers and distributors. Tirupur and Ludhiana are the only two main hubs of textiles. There is a definite need for the easy availability of fabrics.
3. Software
India has the largest pool of software engineers, if the Indian entrepreneurs understand the amount of money this field can provide, the money will be in circulation within the country. The MNCs are taking full privilege of entering the market and stealing all the efficient software engineers. The IT sector is substantially holding the Indian economy together, and the business to business solutions and services are in great demand.
4. Franchising
Never before have the Indians been so brand conscious as now. The international brands in all areas, ranging from automobile, fast food, to fashion are entering the Indian market and getting accepted with open arms. This is not exclusive to only high-end brands, semi priced brands to are getting a good response. Entrepreneurs can cash on this consumer behavior by simply opening up franchises. There are many international services and products that have yet to enter the market and will be exclusive in their field. Many small towns in India are developing fast too, making this an opportunity to succeed regardless of where one wants to start up.
5. Ayurveda and traditional medicine
Many cities in south India are gaining the popularity of becoming health hubs of the country. Medicine has always been a successful career choice for countless students and India has provided the world with the best. All that being understood a great mass of people are turning back to their roots of Ayurveda and traditional medicine. TV shows like Sathyamev Jayathe have highlighted some of the evil commercial sides of the medical world, and scare away a lot of its potential customers. Entrepreneurs can grasp this opportunity to promote Ayurvedic treatments; the best thing about this venture is that it can be taken abroad with great results too.
A great entrepreneur is the one who takes calculated risks and is not afraid of the challenges that will come his way. If you’re in India or are planning to move to the land of culture and opportunity, there are many opportunities that await every budding entrepreneur.