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Need a Business Idea. The 15 Most Profitable Industries to Start a Business
Need a Business Idea? The 15 Most Profitable Industries to Start a Business
(When You Do not Know What Industry to Start)
(NPCS Newsletter - Issue 032018)
Project Profiles of below projects can be viewed/ downloaded fromhttp://www.niir.org/profiles/
The only way to determine if your ideas can potentially be profitable as a business and is worth pursuing further is to conduct feasibility studies. The purpose each entrepreneur should conduct a detailed feasibility assessment or study is to test if that business idea makes: Personal Sense, Business Sense, Market Sense, and Financial Sense. Without looking at the personal aspect, business concept, the market, and the financials, as well as analyzing the data and information, an entrepreneur is likely not to be successful or not as successful as s/he would like to be. A business plan is an essential roadmap for business success. A business plan provides direction, keeps you on track and is usually a requirement when you seek finance. A business plan is a formal grid map of all of your business goals, and plans on how to achieve them. Entrepreneurial skills assist Small scale industries generate growth and development of new ventures in developing economies. At the entrepreneurship development level, a key role of the programme is to develop tools and programmes that deal with the long term effects of entrepreneurial culture.
We believe that preparing a business plan is important for any business regardless of its size or nature. To make it easier here are few project profiles for planning a business:
Spices are non-leafy parts (e.g. bud, fruit, seed, bark, rhizome, bulb) of plants used as a flavoring or seasoning, although many can also be used as a herbal medicine. A closely related term, ‘herb’, is used to distinguish plant parts finding the same uses but derived from leafy or soft flowering parts. Spices impart aroma, color and taste to food preparations and sometimes mask undesirable odors. The volatile oils from spices give the aroma and the oleoresins impart the taste. Spices are no longer regarded as wonders of medicine, but they still play an important part in the manufacture of many cosmetics and perfumes and are grown commercially for their coloring and preservative properties.
India, known as the home of spices, boasts a long history of trading with the ancient civilisations of Rome and China. Today, Indian spices are the most sought-after globally, given their exquisite aroma, texture, taste and medicinal value. India has the largest domestic market for spices in the world. The demand for spices is expected to grow in the future which will lead to a prominent growth in the revenues from the sales of spices in India. The revenues from India market are expected to expand to around USD 18 billion in FY’2020, growing with a CAGR of ~% from FY’2016 to FY’2020. The highest contribution to this growth is expected to come from the spice mixes and blended spices. As a whole any entrepreneur can venture in this project without risk and earn profit. Read more
Disposable Syringes are made of plastic material and are used in the field of medical and veterinary science. Due to their availability in sterilized condition, ready to use, and cost effectiveness, disposable syringes are fast replacing the age-old glass syringes. A syringe is a simple piston pump consisting of a plunger that fits tightly in a tube. The plunger can be pulled and pushed along inside a cylindrical tube (the barrel) allowing the syringe to take in and expel a liquid or a gas through an orifice at open end of the tube. Syringes are available in sizes of 1 ml, 2 ml, 5 ml and 10 ml, 50ml in a variety of designs and consist of either two or three components construction.
The number of disposable syringes being used has also increased due to the growth in point-of-care administration systems. These systems promote the self-administration of drugs, which can be easily done with modern disposable syringes with improved safety features. The effective result of the above factors of influence on the market – along with a few others – for disposable syringes is expected to translate to a CAGR of 5.6% from 2015 to 2023. This market is expected to be valued above US$9.3 bn by the end of 2023 and close to US$6.5 bn by the end of 2016. India is witnessing a rapid growth across all segments and categories of medical products. India exported US$ 35.22 million worth of syringes and the overall exported quantity was 719.48 million units. As a whole there is a good scope for new entrepreneur to invest in this business. Read more
A sandwich panel is any structure made of three layers: a low-density core and a thin skin-layer bonded to each side. Sandwich panels are used in applications where a combination of high structural rigidity and low weight is required. SIP is a sandwich structured composite, consisting of an insulating layer of rigid core sandwiched between two layers of structural board, used as a building material. A structural insulated panel, or structural insulating panel, (SIP), is a form of sandwich panel used in the construction industry. The board can be sheet metal, plywood, cement, magnesium oxide board (MgO) or oriented strand board (OSB) and the core either expanded polystyrene foam (EPS), extruded polystyrene foam (XPS), polyisocyanurate foam, polyurethane foam or composite honeycomb (HSC).
Sandwich panels in India have been showing strong growth mainly in telecom shelters, cold chain and industrial buildings. Hunts man is a leading supplier of polyure thane (PU) chemicals to sandwich panel manufacturers across the world. In this paper, we would like to share our experience gained in Europe for sandwich panel applications. In the Europe, Africa, Middle East (EAME) region, the market for polyure thane- cored sandwich panels has been growing rapidly over the last years and is currently estimated to be 130 million per annum. The majority of these panels are produced on laminators while the discontinuous press technique is mainly used for more specialized panel designs. As a whole entrepreneur can venture in this field will be successful. Read more
Phosphate Rich Organic Manure (PROM)
Phosphates play a vital role in the balanced nutrition of plants. Most of the soils in India are low to medium in phosphate (P) content which requires external application of P for good harvest. Phosphate Rich Organic Manure is produced by co-composting high-grade (32% P2O5 ± 2%) rock phosphate in very fine size (say 80% finer than 54 microns). Needless to say, the finer the rock phosphate the better is the agronomic efficiency of PROM. This substance may be a more efficient way of adding phosphorus to soil than applying chemical fertilizers. PROM is known as a green chemistry phosphatic fertilizer. Addition of natural minerals or synthetic oxides in water-insoluble forms that contain micronutrients such as copper, zinc, and cobalt may improve the efficiency of PROM.
To promote organic agriculture system Government of India launched National Programme for Organic Production (NPOP) in the year 2001. NPOP defined the standards, accreditation procedures and established a credible certification system which is now well established nationally and internationally. In India, agriculture has been practiced for thousands of years, which was essentially organic, is also the repository of traditional wisdom and genetic germplasm. Civil society organizations and innovative farmers have developed technologies which are not only effective and productive, but are also explainable and accepted by the modern science. As a whole there is a good scope for new entrepreneur to invest in this business. Read more
Hexamethoxymethyl Melamine (HMMM)
Hexamethoxymethyl Melamine (HMMM) HMMM is a Hexa (methoxymethyl) melamine resin. It is used as a crosslinking agent with resorcinol or a novolak resin and as an adhesion promoter in rubber compounds with a variety of substrates. Hexamethoxymethyl melamine (HMMM) which supplied in liquid form. It is a versatile crosslinking agent for a wide range of polymeric materials, both organo-soluble and water-borne. It is soluble in most commonly used organic solvent but solubility in water is limited-when blended with most other water-reduciable resins, tolerates dilution in water.
Indian manufacturers and importers imports MELAMINE under HS Code 29. Authentic and complete Indian importers data and import statistical report of MELAMINE are compiled from daily list of customs. Laminates was the dominant segment of the global melamine market in 2014. A similar trend is expected to continue between 2015 and 2023. The segment accounted for more than 50% share of the global melamine market in 2014 and is anticipated to be the fastest-growing market during the forecast period. Adhesives & sealants and others are projected to play a crucial role in growth of the global melamine market from 2015 to 2023. Thus, due to demand it is best to invest in this project. Read more
Agricultural Warehouse with Cold Storage
Warehousing plays a very vital role in promoting agriculture marketing, rural banking and financing and ensuring Food Security in the county. It enables the markets to ease the pressure during harvest season and to maintain uninterrupted supply of agricultural commodities during off season. Warehousing refers to the activities involving storage of goods on a large-scale in a systematic and orderly manner and making them available conveniently when needed. Availability of proper cold storages are important for preserving perishable commodities like milk, meat, eggs, vegetables, fruits, ornamental flowers and other floricultural goods. These cold storages give perishable food items a longer shelf life by preventing them from rotting due to humidity, high temperature and micro-organisms. A cold storage facility accessible to them will go a long way in removing the risk of distress sale to ensure better returns.
Warehousing plays a very vital role in promoting agriculture marketing, rural banking and financing and ensuring Food Security in the country. Indian transportation and logistics market witnesses new heights; there has been increasing buzz around technology adoption, network optimization, multimodal transportation and improving warehousing. The latter in particular has been evolving rapidly from traditional 'go downs’ to modern facilities. Indian logistics market is expected to grow at a CAGR of 12.17% by 2020 driven by the growth in the manufacturing, retail, FMCG and e-commerce sectors. Indian cold storage market is expected to grow at a CAGR of 16.09% by 2020 driven by the growth in the organized retail, Indian fast food market, and food processing industry and e-commerce sectors. This facilitates the development of new technologies and ensures a high quality product.Read more
Bicycle and Cycle Rickshaw Manufacturing
A Bicycle, is a human-powered, pedal-driven, single-track vehicle, having two wheels attached to a frame, one behind the other. Bicycles are one of the oldest forms of transportation. Even today millions of people travel by bicycle daily to their work, college, universities and distant places. The cycle rickshaw is a small-scale local means of transport; it is also known by a variety of other names such as bike taxi, velotaxi, pedicab, bikecab, cyclo, beca, becak, trisikad, or trishaw. A Cycle Rickshaw is often hailed as environment-friendly and an inexpensive mode of transportation.
The Indian bicycle industry, the second largest in the world, produces around 10 to 14 mn units annually. China leads with a production of over 50 mn units. The total world market is estimated at close to 100 mn units. The bicycle market in India is expected to register a CAGR of more than 8% in terms of value during the forecasted period of 2016-17 to 2021-22. There are guesstimates that close to 1 million cycle rickshaws ply on the Indian roads carrying about 3-4 billion passengers-km/year. In some cities they are the major means of transport. They provide employment to about 700,000 rickshaw pullers, are very maneuverable and are completely non-polluting and hence environmentally friendly means of transport. Thus, as an entrepreneur this project offers an exciting opportunity to you. Read more
Spice Oil Extractionfrom Curry Leaves
Murraya koenigii, commonly known as curry leaf or kari patta in Indian dialects, belonging to Famil Rutaceae which represent more than 150 genera and 1600 species1 Murraya Koenigii is a highly values plant for its characteristic aroma and medicinal value. Curry leaves are a rich source of minor constituents, such as Ca, K, Mg, P, along with Fe, Mn, Se and Zn, in trace amounts. Toxic element (As, Cd, Hg and Pb) contents were found to be below USFDA limits. The mineral content of curry leaves are: Fe 152 to 158 mg/kg, Na 795 to 800 mg/kg, Mg 14 to 18mg/kg, Mn 96 to 98 mg/kg. According to the proximate analysis leaves of Murraya Koenejii consists moistures 63%, total nitrogen 1%, fat 6%, total sugar 14%, crude fiber 7% and ash 13%. The curry leaf (Murraya koenigii spreng) has 2.6% volatile essential oils (terpenes: beta caryophylline, beta gurjunene, beta elemene, bete phellandrene, beta thujene and others). These oils in the curry leaf are sufficiently soluble in water and terpenes are lighter than water.
The global essential oil market size was valued at USD 3.36 billion in 2015 and is expected to witness an estimated growth rate of 9.0% from 2016 to 2024. Around 200 different types of essential oils are consumed all over the world annually, and the U.S. plays a major role in overall demand. Essential Oil Market is expected to reach $11.188 million by 2022, with a CAGR of 8.7% from 2016 to 2022. Essential oils, also known as volatile oils/aetherolea/ethereal oils, are derived from leaves, stems, flowers, bark, roots, or other parts of a plant. Which facilitates the development of new technologies and ensure a high quality product. Read more
Aluminium foil is aluminium prepared in thin metal leaves, with a thickness less than 0.2 millimetres (8 mils), thinner gauges down to 6 µm (0.2 mils) are also commonly used. Standard household foil is typically 0.016 millimetres (0.6 mils) thick and heavy duty household foil is typically 0.024 millimetres (0.9 mils). Aluminium foil is produced by rolling sheet ingots cast from molten aluminium, then re-rolling on sheet and foil rolling mills to the desired thickness, or by continuously casting and cold rolling. Aluminium foil is a thin sheet of metal. As such it can be an absolute barrier to moisture, gases, odors, bacteria and moulds.
There are around 10 Major Aluminium Foil manufacturers in India with rolling capacity of around 10000 tons per month to cater the total demand of around 12000 tons per month in different field of pharmaceuticals and flexible packaging industries. In the present scenario, market demand of the product is growing with a rate of 14.5% per annum. Global demand for aluminium foil is forecast to expand 8.7% p.a. between 2014 and 2018. Entrepreneurs who invest in this project will be successful. Read more
A low-tension line is a low voltage line and a high-tension line is a high voltage line. In India LT supply is of 400 Volts for three-phase connection and 230 Volts for single-phase connection. High tension or HT supply is applicable for bulk power purchasers who need 11 kilo-Volts or above. Most small consumers of electricity like individual houses, shops, small offices and smaller manufacturing units get their electricity on LT connection. HT is applicable for bulk purchasers of electricity like industries (big manufacturing units), big offices, Universities, hostels and even residential colonies (if the apartment complexes purchase together in bulk).
Cable and wire industry has established itself as one of the backbones of modern information age. The increasing importance for power, light and communication has kept demand high for wire and cable. About 40 per cent of the entire electrical industry is composed by wire and cable industry, and it is expected to be double in the next 5 years. The global wire and cable market is valued at $127 billion in 2010. This market is expected to increase at a 9.4 per cent CAGR to reach nearly $200 billion in 2015. Revenues from the wires and cables industry in the India are expected to expand to INR ~ million in FY'2019 growing with a CAGR of 18.5% from FY'2014-FY'2019. As a whole you can invest in this project without risk and earn profit. Read more
LV Control & Power Cables, MV Cables
An electrical cable is an assembly of one or more wires running side by side or bundled, which is used to carry electric current. A power cable is an electrical cable, an assembly of one or more electrical conductors, usually held together with an overall sheath. The assembly is used for transmission of electrical power. Power cables may be installed as permanent wiring within buildings, buried in the ground, run overhead, or exposed. Flexible power cables are used for portable devices, mobile tools and machinery.
Market research analysts at Technavio have predicted that the electric wire and cable market in India will grow steadily during the next four years and post a CAGR of almost 16% by 2020. This market research analysis identifies the growth in renewable power generation to be one of the primary factors for the growth of the electric cable and wire market. One of the primary focus area of the development plan is railways, with over Rs 800,000 crore as promised investment over the period of 2015-2020.In addition, the government has ear marked Rs 50,000 crore (US$ 7.53 billion) to develop 100 smart cities across the country. Thus, due to demand it is best to invest in this project. Read more
Starches are inherently unsuitable for most applications and, therefore, must be modified chemically and/or physically to enhance their positive attributes and/or to minimize their defects. Chemical modification of starch generally involves esterification, etherification or oxidation of the available hydroxyl groups on the B-D-glucopyranosyl units that make up the starch polymers. Reactions used to produce most commercially modified starches have been reviewed by others. Many commercial derivatives are produced by the addition of reactive, organic reagents to aqueous starch slurries while controlling alkalinity (pH 7–9 for esterification and pH 11–12 for etherification) and temperature (typically 60°C).
The wall paper starch is used in the fixing of the wallpaper on the walls. This is implied that this shall be directly connected with construction industry and its opportunities. The demand for starches and derivatives looks very promising in India as all the major user segments of starches and derivatives are showing near double digit growth in their production. The major users of starches and derivatives are food, textile, paper and pharma sectors. Global Modified Starch Market was valued at $7,995 million in 2016, and is projected to reach at $10,700 million by 2023, growing at a CAGR of 4.2% from 2017 to 2023. Modified starch is formed by morphological or physicochemical changes in the structure of native starch via its treatment with heat, acids, alkalis, or enzymes. As a whole entrepreneur can venture in this field will be successful. Read more
Silicon is the most abundant element in Earth's crust. It is found in rocks, sand, clays and soils, combined with either oxygen as silicon dioxide, or with oxygen and other elements as silicates. Silicon's compounds are also found in water, in the atmosphere, in many plants, and even in certain animals. Silicon is the fourteenth element of the periodic table and is a Group IVA element, along with carbon germanium, tin and lead. Pure silicon is a dark gray solid with the same crystalline structure as diamond. Its chemical and physical properties are similar to this material. Silicon has a melting point of 2570°F (1410°C), a boiling point of 4271°F (2355°C), and a density of 2.33 g/cm3.
The Silicon Metal market size will be XX million (USD) in 2022 in India, from the XX million (USD) in 2016, with a CAGR (Compound Annual Growth Rate) XX% from 2016 to 2022. Silicon is the second most common element in the Earth’s crust, although it is hard to find it in nature as a pure element. China is by far the world’s largest producer of silicon, including thereby silicon content for ferrosilicon and silicon metal. Around 4.6 million metric tons of silicon was produced in China in 2016 which accounted for about two-thirds of global production that year, which reached about 7.2 million metric tons. The global silicon metal market was valued at US$ 2.21 Bn in 2015 and is anticipated to reach US$ 3.48 Bn by 2024, expanding at a CAGR of 5.2% between 2016 and 2024. As a whole there is a good scope for new entrepreneur to invest in this business. Read more
(Turmeric Powder, Red Chilli Powder, Dhaniya Powder, Garam Masala, Sabji Masala, Popcorn Masala)
Spices impart aroma, color and taste to food preparations. The volatile oils from spices give the aroma and the oleoresins impart the taste. Spices are non-leafy parts (e.g. bud, fruit, seed, bark, rhizome, and bulb) of plants used as a flavoring or seasoning, although many can also be used as an herbal medicine. A closely related term, ‘herb’, is used to distinguish plant parts finding the same uses but derived from leafy or soft flowering parts. The two terms may be used for the same plants in which the fresh leaves are used as herbs, while other dried parts are used as spices, e.g. coriander, dill.
India, known as the home of spices, boasts a long history of trading with the ancient civilisations of Rome and China. Today, Indian spices are the most sought-after globally, given their exquisite aroma, texture, taste and medicinal value. India has the largest domestic market for spices in the world. Traditionally, spices in India have been grown in small land holdings, with organic farming gaining prominence in recent times. India is the world's largest producer, consumer and exporter of spices; the country produces about 75 of the 109 varieties listed by the International Organization for Standardization (ISO) and accounts for half of the global trading in spices. As a whole you can invest in this project without risk and earn profit. Read more
Intravenous fluids are fluids which are intended to be administered to a patient intravenously, directly through the circulatory system. These fluids must be sterile to protect patients from injury, and there are a number of different types available for use. Fluids are given when someone's body fluid volume falls. There are a number of things which can cause a drop in fluid volume. Vomiting and diarrhea are a classic example, which is why people are encouraged to drink fluids when they are sick, to keep their fluid volume stable. Intravenous fluids can also be used as a route of medication administration.
The Indian pharmaceutical industry is the fourth largest in the world in terms of volume of output and thirteenth in domestic demand. However, the Indian industry, valued at USD 17 bn in represented just over 1% of the global pharmaceutical industry (USD 1700 bn) in value terms. The domestic market is estimated at Rs 680 bn. India has the world's third largest active pharmaceutical ingredients (API) for the industry valued at a little less than USD 2 bn. These new business streams would help growth in future earnings. Intravenous (IV) fluids market in India is around Rs. 3,000 crore growing at healthy rate of around 15-20 per cent a year due to its essential requirement in nature. Which facilitates the development of new technologies and ensure a high quality product. Read more
Market Survey Cum Detailed Techno Economic Feasibility Report on above projects can be had from NPCS
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