Best Business Under 50 lakh
A huge population brings many possibilities. Possibility of new products, ideas, innovations, challenges, and businesses. India is growing at a 6.8% faster rate. Investors are attracted to invest in a country with a huge potential for the business. The only effort we have to put in is to be innovative, and risk-taker.
The government has built such an atmosphere where ease of doing business is so easy. The government has schemes that help startups and the Entrepreneur to construct a strong and stable business. Some central helpful schemes are:
- Startup India
- Atal Innovation Mission (AIM)
- Make In India
- Digital India
- Support To Training Employment Program For Women (STEP)
- Biotechnology Industry Reason Assistance Council (BIRAC)
- Trade-Related Entrepreneurship Assistance And Development (TREAD)
Top 7 businesses to open India
1. CONSTRUCTION BUSINESS
India is has a massive population, as this population creates demand for houses. The study of the UN says that the rate of speed of increase in the population of India is 1.4% per year. This means that the huge population will required houses to live.
One can build the house or any small site under 50lakh and sell it with a 10%-20% margin. As this project has sold, the generated revenue can fund your next project.The government has also launched schemes to support the construction in India.
|Housing Schemes||Launched In|
|Pradhan Mantri Awas Yojana||For Urban Areas launched in 2015|
|P. M. Gramin Awas Yojana||For Gramin Areas launched in 2015|
|DDA Housing Scheme||Delhi Government Scheme, Recurring Each Year|
|T. N. Housing Board Scheme||Tamil Nadu Government Scheme, Recurring Each Year|
|Mhada Lottery Scheme||Maharashtra Government Scheme, Recurring Each Year|
|NTR Housing Scheme||Andhra Pradesh Govt Scheme launched in 2016|
2. CHEMICAL AND PETROCHEMICAL INDUSTRY
The call for the chemical in the market is growing, as industrialization is increasing. All most every type of industry required some kind of chemicals, whether the industry is of food, manufacturing of metal, chemical, medical, etc. The requirements can be different but there is always a vacancy for the chemical industry sector.According to one survey the size of the Chemical & Petrochemical sector in India is around $165 bn during 2019-20; expected to grow to $300 bn by 2025. The demand for chemicals is expected to grow at a 12% CAGR from FY19-22.
3. TECHNICAL BASED STARTUP
The generation calls for innovation. If one has a great idea, then the market is in his hand. The Economy today is an Idea Economy. On the off chance that one has an extraordinary thought in Technology, one can transform it into a rewarding business. In such a new and different idea one must know how to execute the plan because a new work model can be risky to execute. An unmistakably helpful application is generally an obligatory prerequisite before any venture ought to be made. Evaluating could be high and premium.
The government is also promoting such kind of initiatives. There are many schemes that promote or help the startups of make funds, banks are providing low-interest loans, land acquisition is easier, etc. Some of the famous schemes are:
- ATAL INNOVATION MISSION (AIM)
- STARTUP INDIA
- DIGITAL INDIA
4. SETTING UP A RESTAURANT
A foodie person is always in search of food. Opening a retro is a nice idea in such a huge population with food in their mind. A small restaurant in a busy street with delicious food will always assure your wallet always ticking.
This business requires a small budget to run. This can be open in a rented place, or one can open on his/her own land. Setting a retro is a one-time heavy investment. There are many initiatives that can help you to serve many and more customers. Zomato, swiggy, food panda, etc are the startups that help the restaurant to deliver the food to the customer’s home.
5. INDIAN PACKED FOOD INDUSTRY
Namkeen, thepla, khakhra, pickles are some examples of the Indian snack food industry. In this busy and hectic world of metropolitan cities, everyone is quite busy preparing traditional food. Hence, the requirement for the Indian packed food industry is boomed in the recent decade.
There are many successful brands in the Indian market. Haldiram, bikaneri, ratlami sev,kahnna, bikaji bujiya, etc are the foremost brands in Indian market. The investment in this sector is 20-30lakh and ROI is 80% within 2 years.
6. OPENING A FRANCHISES
Investing on franchisees is always a great move. The customers are always attracted by the brand. The value of the brand is generated by its brand promises, services, and the quality of the product. Hence, the businessman doesn’t have to market his brand, because brands don’t require marketing. The initial ROI is not that much, but you can cover it in a short period of time.
7. ICE CREAM FACTORY
I am an Ice cream lover, are you one of them? Hence ice cream is one of the most loveable items which is used as a desert. There is a huge potential for the ice cream factory. The annual per capita consumption of ice cream in India is 400 milliliters. As this product is also common in other countries, so one can expand his brand abroad too.