The Indian business sector is growing through leaps and bounds because of new government policies and international trade. India is no more looked upon as a developing country.
Due to a young population rising to technology driven innovation, there are many business opportunities that can be explored in several sectors.
Let’s take a walk through potential business ideas one by one.
Top 20+ Future Business Ideas
1. Internet Infrastructure Company
There is a lack of connection in the rural parts of the country. Though there are many internet providers already,connectivity is an issue. IOT will become a huge phenomenon in a few decades. It will change the way computing devices function and will save costs and improve efficiency. Although it requires a huge investment over the years, the growth potential is very high.
2. Virtual Reality
Remember arcade gaming experience? Yes, it will be the next technology to take over a few chunks of sectors. It will help the dying gaming business and also enter markets like real estate, social media interaction, teaching, etc.
3. Outsourcing Business
Freelancing is going to change the way our future generations will work. More than 50% of the country’s population like America works from home. As the investment required here is low and the returns are extremely high. Due to which companies outsource a lot of work to maximise their profits. This will create an influx of work from home jobs in coming decades.
4. Mobile wallet payment solution
With countries’ workingforces leaning towards digital payments, cash transactions are a thing of the past. People are more comfortable using digital wallets to make payments. Digital payment wallets turn out to be more reliable and convenient for users. In a country like India, where there is no dearth of coders and programmers, the cost becomes reasonably low.
5. Inventory management for E-commerce
By looking at the e-commerce trend, a warehouse management company would provide fulfilment for the stores. From buying a fleet of trucks and a warehouse that stores goods, the company would do it all. This a large-scale business idea, with a huge potential of high returns. You can start by buying land and then use a shipping company to send them to the desired location.
6. Delivery Solution Company
Metro cities are equipped with a fast delivery system,but rural areas still face difficulties in delivery services. This could be because of poor infrastructure and road connectivity. To begin with, the company can build warehouses on the edge of city limits. The last-mile delivery solution company can buy a bunch of scooters and trucks to send the package where normal shipping companies won’t deliver. The business would require investment for warehouse and shipping vehicles.
7. Blockchain Tracked Bank Ledger for E-Commerce
Blockchain technology is going to see a boom in the marketplace. The government is helping set up funds just like the Internet of Things. This makes it a ripe idea for investment. The cash influx becomes a situation in cash on delivery. The stores have to wait for money till the product is delivered. In these times, blockchain technology can solve the problem.
8. Web Design Developer
This is not a new business idea. Many small-scale businesses need help in creating online stores. This is where designers come into play. It can either be an individual with work fromhome or a startup company. It requires low cost investment with a designer with web designing skills and a computer.
9. Website to App Conversion Company
There is a rise of smartphones and internet connectivity. With this there is a need of websites to app conversions. The business would only require a bunch of coders and programmers who can work from home. This keeps things at a low cost.
10. Wi-Fi Installation Company
The government is making huge investments in making the internet accessible for all. There is a huge potential for Wi-Fi solutions companies entering the market. To start with, you can approach public malls and places with a crowd. Once the setup is in place, you can charge on subscription or per minute basis.
11. Digital Marketing Consultant
Most of the companies have switched to digital marketing practicessince 2018. Investment in such a startup is quite low as you only need a fast internet connection and a person with expertise. The person could work from home or have a team of experts.
12. Online Conversion Specialist
With a rise in the number of online users, small businesses are trying to engage with consumers online. An online conversion specialist would look after converting website traffic into sales. Similar to other ideas, this is a low-cost initiative with a computer and a person with knowledge.
13. Affiliate Marketing
In affiliate marketing, a person earns a commission by recommending products or services to your audience. The idea behind is for companies to make profits and grow together. It is a mix of blog creation and promotion. It is a low-cost opportunity with the potential of high revenue. The influencers work from home and earn revenue.
14. Rural Drone Delivery Company
As there is a dearth of shipping companies providing shipping services in rural areas. A rural drone delivery service can solve the problem securely. To start with, the company has to buy a couple of drones and make partnerships with businesses in rural areas.
15. Biometric Sensor Company
Biometric sensors identify an individual with their fingerprints or eye scan. With need of high security measures, it won’t be long enough to put these sensors in everything. It requires medium-size investments to manufacture. However, there is a huge potential of profits as multinational businesses would like to use your technology.
16. Mobile Ads Specialist
The presence of mobile usage is high. This is the right opportunity for mobile advertising. The idea is to reach potential customers through mobile advertising. It can be kick-started as a low-cost business if you have the right expertise.
17. IoT Home
The Indian government has chalked out a plan for using Internet of Things technology. You could work with developers to make your home more automated according to your liking. Turning off lights with one command and switching TV with the helpof a voice assistant.
18. E-Commerce Niche Store
This business deals with selling cultural items. As many people appreciate authentic culture, many would like to have a piece of culture in their homes. One can begin by partnering with local sellers.
19. Social Impact Investment funds
People are intelligent and know what acts can harm mother earth. This business translates to creating groups who invest in earth impacting causes. There is a lot of demand due to high awareness of such causes amongst people.
20. Cheap Solar Home Energy
This business idea is for residents of India to generate their own power. To execute, you can start by installing solar panels on rooftops or balconies. To start with, you can get 10 people to pay for your service, which makes it a low-cost initiative.
21. Media Business
As more companies are investing in marketing, you can start with low investment media business. You can provide services of blogging, publishing, PR, self-publishing, etc.
These were a few ideas that could rule the future of the business landscape. Let me know in the comments if you have any new ideas for business.
Pooja Shah is a Content Writer at Financesage. It is a blog where I cover financial tips related website which is working towards investors to take better financial decisions and make the best choices while buying financial things and for better financial life.