Well as a business visionary you have to keep refreshed about the rising and developing ventures in India, particularly since the most recent few years in the wake of introducing some great activities and new strategies by our Indian government. Therefore, there are a lot of new enterprises indicating momentous development and adding to the development of the economy.
So we should discover India’s 5 quickest developing businesses:
1. FOOD INDUSTRY
The Indian food industry is poised for huge growth, increasing its contribution to world food trade every year. In India, the food sector has emerged as a high-growth and high-profit sector due to its immense potential for value addition, particularly within the food processing industry.
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The food industry, which is currently valued at US$ 39.71 billion!is expected to grow at a Compounded Annual Growth Rate (CAGR) of 11 per cent to US$65.4 billion by 2018. Food and grocery account for around 31 per cent of India’s consumption basket. This is one sector which has faced a rapid increase in foreign direct investments. Also, over time there has been an ever-increasing demand for such goods in the Indian market.
According to the data provided by the Department of Industrial Policies and Promotion (DIPP), the food processing sector in India has received around US$ 6.70 billion worth of Foreign Direct Investment (FDI) during the period April 2000-December 2015.
2. TRAVEL INDUSTRY
The Indian tourism and hospitality industry has emerged as one of the key drivers of growth among the services sector in India. The second-largest sub-segment of the services sector comprising trade, repair services, hotels and restaurants contributed nearly US$ 295.7 billion or 19.2 per cent to the Gross Domestic Product (GDP) in 2015-16, while growing at 8.9 per cent year-on-year.
Image Source: IBEF
The industry is expected to generate 13.45 million jobs! across sub-segments such as Restaurants (10.49 million jobs), Hotels (2.3 million jobs) and Travel Agents/Tour Operators (0.66 million). India has moved up 13 positions to 52nd rank from 65th in Tourism & Travel competitive index
India’s rising middle class and increasing disposable incomes has continued to support the growth of domestic and outbound tourism. Total outbound trips increased by 8.7 per cent to 19.9 million in 2015. Inbound tourist volume grew at a Compound Annual Growth Rate (CAGR) of 6.8 per cent during 2010-15.
The tourism and hospitality sector is among the top 10 sectors in India to attract the highest Foreign Direct Investment (FDI). During the period April 2000-March 2016, the hotel and tourism sector attracted around US$ 9.23 billion of FDI, according to the data released by Department of Industrial Policy and Promotion (DIPP).
3. HEALTHCARE INDUSTRY
India’s healthcare sector has been growing rapidly driven by a number of factors such as increasing the average life expectancy and average income level and rising awareness for health insurance. The Indian healthcare industry, which comprises hospitals, medicines, infrastructure, and medical devices, outsourcing telemedicine, health insurance and medical equipment is expected to reach US $100 billion by 2015 from the current US $65 billion, growing at around 20 percent year of year as per rating agency Fitch.
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Healthcare has become one of the India’s largest sectors both in terms of revenue and employment. Revenues from the healthcare sector account for 5.2 percent the GDP, making it the third largest growth segment in India.
The Indian government plans to invest US$ 177.22 million across the golden quadrilateral (GQ) project, to develop nearly 140 trauma care centers on the 6,500 Km long north-south and east-west corridors.
The hospital and diagnostic centres attracted Foreign Direct Investment (FDI) worth US$ 3.59 billion between April 2000 and March 2016, according to data released by the Department of Industrial Policy and Promotion (DIPP).
4. EDUCATION & TRAINING
India holds an important place in the global education industry. The country has more than 1.4 million schools with over 227 million students enrolled and more than 36,000 higher education institutes. India has one of the largest higher education systems in the world.
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India has become the second largest market for e-learning after the US. The sector is currently pegged at US$ 2-3 billion, and is expected to touch US$ 40 billion by 2017. The distance education market in India is expected to grow at a Compound Annual Growth Rate (CAGR) of around 34 per cent during 2013-14 to 2017-18.
The education sector in India is poised to witness major growth in the years to come as India will have world’s largest tertiary-age population and second largest graduate talent pipeline globally by the end of 2020.
The total amount of Foreign Direct Investments (FDI) inflow into the education sector in India stood at US$ 1,256 million from April 2000 to March 2016, according to data released by Department of Industrial Policy and Promotion (DIPP).
5. RETAIL INDUSTRY
The Indian Retail Industry is the largest among all the industries, accounting for over 10 per cent of the country’s GDP and around 8 per cent of the employment. The Retail Industry in India has come forth as one of the most dynamic and fast paced industries with several players entering the market.
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But all of them have not yet tasted success because of the heavy initial investments that are required to break even with other companies and compete with them. The India Retail Industry is gradually inching its way towards becoming the next boom industry.
A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing workingwomen population and emerging opportunities in the services sector are going to be the key factors in the growth of the organized Retail sector in India.
Indian retail is expected to grow 25 per cent annually. Modern retail in India could be worth US$ 175-200 billion by 2016. The future of the India Retail Industry looks promising with the growing of the market, with the government policies becoming more favorable and the emerging technologies facilitating operations.
The Indian retail trading has received Foreign Direct Investment (FDI) equity inflows totaling US$ 537.61 million during April 2000–March 2016, according to the Department of Industrial Policies and Promotion (DIPP)
