India is the 2nd highest populated country in the world. It has world’s largest youth population. A recent report from “The power of 1.8 billion” shows that 28% Indians are young. These youngsters will soon search for new work and other ways of earning money.
Employment is a big issue in this country. Around 31 million Indians are searching for employment. Many others are coming to make the competition tougher. If you are an Indian and want to do something different, start your own business and let others do the job for you.
Why should you start a new business?
There are a lot of government and private job vacancies. Starting a new business may sound a risky idea. You may prefer a job in a government or private firm. Though Working for others is a great idea, what about the freedom and limited wages?
The World Bank and the International Monetary Fund have projected India as the World’s Fastest-Growing large economy. It is currently the 6th-largest economy by nominal GDP and 3rd-largest economy by PPP (purchasing power parity). India will remain at the top for the remaining years of this decade. A perfectly planned start-up can quickly flourish here and turn into a large business organization within a few years.
The Indian Government is offering sufficient aid through different programs such as Startup India to encourage new entrepreneurs for doing something special. Your business will provide employment to many unemployed people. It will participate in the growth of the country and that’s why you should start a new business.
What type of business should you start?
There are many types of businesses in India. We are suggesting businesses that can flourish quite fast. Continue reading to know which business has the potential of generating a huge profit in the future.
1. Real Estate
Most of the people used to live in the villages and towns. Now they are moving towards the urban regions of this country. They want better education, healthcare facilities, and other facilities. The demands for residential and commercial properties would be much higher in the future. You can start a real estate consulting firm or any business related to this field. Connect with the target customer well and soon you will be serving clients for their demands. That’s how you can gain a huge profit in the future.
2. 3-D Printing
NASA is planning to send a 3D printing Spider in the space. It is essentially a 3D printing machine that will create a variety of products in the space. A 3D printer used to cost an expensive price in the past. Now it is a bit affordable and therefore many people have bought it across the globe. It is still a new thing in India. You should buy it and start a 3D printing company. You may soon find many clients which will agree to pay a lot of money for building different products.
3. Renewable Energy Supplies
Humans have been harnessing this planet’s treasures for thousands of years. There is a limited stock of fuels we use today. Fuels such as petrol, gas, diesel, coal, etc. will last for only a few decades. People will only one option to meet their energy demands and that is renewable energy. People are aware of it and that’s why the demands for the Green Energy Supplies are quite high. You can start a business that supplies solar energy products, wind energy products, installation support, and other services.
4. Healthcare Services and Medical Supplies
The healthcare industry never faces recession in India. The hospitals and doctors remain busy every day. The patients pay a considerable amount for the treatment. You will have to become a doctor if you want to start a clinic or hospital. However, you can provide Medical Supplies. The doctors and hospitals always need medical supplies such as medical tools, medicines, and other products used by the doctors and nurses. You will be earning a huge amount if you can do this job.
5. IoT Industry
IoT or Internet of Things is ready to change the way we live our lives. You must have a great understanding of IoT along with a great business idea. IoT will allow people to have everything they need without searching for the service providers. Everything will get online in the future and products will automatically talk to the producers and service centers. Whenever there is a problem, you will get some suggestions to resolve it. You can establish a business to provide installation, repair, and Big Data analysis support. Other business organizations would get eager to work with you if you establish an IoT related business now.
Every business requires some investment, a team to implement the strategies, and the road map for the future activities. The above-suggested business ideas are great and can make you a rich person in the future if you try now.