Top 10 Manufacturing Business Ideas in 2019
Among the humongous manufacturing sector, SME and MSME accounts to 90% of the totally industry activity and with new policies like The National Manufacturing Policy, the industry is looking to contribute more than 25% to GDP and employing over a 100 million workers. Some of the most profitable sectors among them are:
Agrochemicals - India is ranked as the fourth highest producer of Agrochemicals in the world. Agriculture being the largest employer and known as the primary sector of the economy of India,it has created an operational sector of never-ending need of agrochemicals making it one of the high profitable The firms vary from large scale to small scale manufacturing firms that can be and are set up in villages. It is projected to reach a market of US 269.7 billion by the year 2022.
Automobile/Auto Components - India is predicted to be the third largest manufacturer of automobile in the world by 2025. In a survey in April 2018, just in one metropolitan city of the lot in India; Bangalore showed the results of 4,000 new registered vehicles added to road every single day. This obviously boosts the Auto Component industry which vary from large scale to small scale manufacturing, the exports of components in India stood at INR10.90 billion in 2016-2017. In the Indian export industry, Automobile ranks third with the valuation on US $14.5billion.
Pharmaceutical Industry - India is the largest provider of generic drugs globally. The domestic pharmaceutical sector accounts for 3.1-3.6 % of the global pharmaceutical industry in value terms and 10 per cent in volume terms. In a 2017 report, there were 10,563 pharmaceutical manufacturing firms (inclusive of large- and small-scale pharmaceuticals) under the â€˜Directory of Pharmaceuticals Manufacturing Units in Indiaâ€™.
Textile Industryâ€“Starting from the colonisation till date India is known for its cotton and use of cotton in textile. As per the Ministry of Textiles, the Indian textile industry contributed about 14% to industrial production, 4% to the country's GDP and 13% to the country's export earnings in 2017. India is appeared to be the largest producer of cotton and second largest exporter after China. The industry employs about 40 million workers directly and 60 million indirectly.
Food and Beverage â€“ The F&B industry stands fifth largest in manufacturing sectors. It was ranked 13th largest receiver of Foreign Direct Investment in 2017. By market size India stands fourth in the world for the overall F&B industry making revenue of $200 billion. India is largest producer of pulses, milk and second biggest of rice, wheat, fruits and vegetables. The category constitutes about 40% of its Consumer Package Goods.
Gems and Jewellery - The Gems and Jewellery sector play a noteworthy role in the Indian economy as it contributes toabout 7% of the country's GDP and ranks as Indiaâ€™s major exporter constitution 15% of total exports resulting in $42.6 billion.
Packaging Industry- Ranked as the fifth largest sector of Indiaâ€™s economy with $32 million in 2015, it stands as a salient sector for most of the other segments of the industry. By the increased standard of living the stigma of packed good to have higher value is ingrained in the minds of the consumer and this has resulted in the growth of the packaging industry. This industry is backed by various other industries without relying on just one sector and so will forever bloom even with the changes from plastic to paper and cloth.
Glass Manufacturing â€“ The per capita consumption of glass in India is 1.8Kg. With applications in large no of areas such as architecture and cosntruction, most of the buildings from malls to office buildings and apartments use glass as well as fibre glass as walls and doors as decor. Indiaâ€™s glass export stood at $639 million which has shown an immense growth from $225 million in 2012.
Rubber and Rubber Products- Worldâ€™s largest producer and third largest consumer of natural rubber, India, manufactures more than 35000 kinds of rubber products. It is used for domestic as well as for international trade whose export was recorded as $5 Billion per annum.
Metal Sector â€“ Raising its demand in automobile, capital goods and infrastructure, Indian metal players re"
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