The manufacturing business is the heart of India. Just a second, before getting started, let me ask you few questions. Look what things can you find? Whatever you found are almost manufacturing products. You have been using so many manufacture products. Did you ever realize how much effort it require to be produced? And how it reached to your home from the manufacturing houses? The process is lengthy. Talking in brief, it flows through the system of input, process and output. For input, raw material is purchased. The materials are processed using labor and machines to produce semi-finished and finished products. Various step needs to be followed in a series of chain. To reach to the final consumers, it passes through the chain of the manufacturer, wholesaler, and retailer.
Well, manufacturing simply means making of various products. The products may be minor to major materials, simple handicrafts to complicated electronic equipment. The business is very broad and difficult in the sense that it requires huge labor force, resources, and capital. Added to this, complex plants and machinery may also be required. As a result, the productivity is also in huge quantity to ensure the low cost per unit with large quantities of outputs termed as economies of scale.
Well, talking about manufacturing business in India, the growth and outcome is tremendous and phenomenal. Various kinds of merchandise products are produced at the national level and distributed in the global market for sale. Also, many of them are exported abroad. On one hand, it serves to produce home based products and save outflow of national currency. This helps to add glory, fame and name of the nation. On the other hand, it assists in generating foreign currency serving to increase GDP and national income of India.
The top 10 manufacturing business ideas in India are given below.
1. Textile:
Investment: above million
ROI: 5-6 years
Textile, manufacturing business of cotton, natural and synthetic fiber for clothes production, serves vital need of life. It helps in the mobilization of available resources. India is the largest producer of silk, fiber and jute, the major materials for textile. Thus, it has abundant opportunity to move as the fastest growing business in India.
India is recognized for textile industries for creating massive employment opportunities for skilled, semi-skilled and non-skilled manpower. Use of latest technology, tools and equipment should be given priority. The infrastructural development also should be emphasized for the sustainable development of this sector.
2. Computers, laptops, and peripherals:
Investment: above billion
ROI: 4-8 years
We all have realized how important computer and its peripherals are today. Can you name single sector where computers are not used? Definitely no. This sector can be one of the most important manufacturing business ideas in India. This may include producing keyboards, mouse, pen drives, CPUs, laptops, and others. No doubt, this sector can contribute a lot for the development of individual, locality and the country as a whole.
For the make of computers and laptops, different materials are required. Better to produce such peripheral devices at home level rather than importing. Research and development, as well as latest technologies, play an influential role for further progress of the sector.
3. Automobile:
Investment: above billion
ROI: 4-8 years
Another important manufacturing sector can be an automobile. Can you imagine today’s rushed life without the use of vehicles? No and never. India has stepped ahead in this field with exceptional success. Some of the famous automobile industries are Tata, Audi, Hindustan motors, Mahindra, Hyundai, Maruti Suzuki, Ford, etc.
India has emerged as leading automobile exporter country. It exports a large number of cars to Italy, Germany, UK and others. Extensive research and development are also important. The future looks bright with great perspective for development. Use of upgraded technology with high engineering expertise, low-cost labor and resources can help produce affordable automobiles to customers. Electric and battery version with fuel efficiency must be focused.
4. Home appliances:
Investment: above billion
ROI: 4-8 years
Although, India has already moved forward in the electrical manufacturing field, yet it has not reached its destination. Need for home appliances has been increasing rapidly at domestic and international level. This can be wonderful chance for India to identify and meet demand. The demand in the field is increasing higher and higher every year.
The home appliances especially electronic industries are not enough to meet the upcoming rising demand. The timely decision for investment can prove to be a boon and golden opportunities for India. No wonder, lots of home appliances like rice cookers, washing machines, fridge, ovens are produced at large. With the increase in living standard and India’s economy, furthermore wants are expected to rise in the pipeline.
5. Mobile:
Investment: above billion
ROI: 4-8 years
We can find cell phones in hands of almost every person. From this, it is clear about market opportunities for mobile. Like other sectors, India is going through the revolution in mobile industries as well. Technology is changing rapidly. To survive in the race of competition, adaptation with the environmental changes is a must.
In the field of mobile too, continuous upgrading of technology is essential. Continuous market survey and investigation needs to be prioritized. Outdated ones need to be replaced with latest and modern features. The new mobile, sooner or later after few months or years becomes outdated. Technological up-gradation needs to be maintained continuously and consistently.
6. Leather:
Investment: above billion
ROI: 4-6 years
India has already leaped ahead to make its prominent position in the global map in the fields of leather manufacturing industries. The starting point of any business is to consider the availability of resources. The reason behind its success is that India is also well known for producing leather. Besides this, low waged labor force, innovative tools, abundant animal husbandry business can be other strength in this sector.
The threat of substitute products can be the greatest challenge. Hence, innovation in products and technology can help for sustainable growth and development of this sector. There is consistent market demand for leather products like footwear, belts, jackets, bags, noseband, and rider’s equipment in the domestic and foreign market. Hence, it has fruitful results in the economic and financial development of India.
7. Mining:
Investment: above billion
ROI: 4-8 years
Abundant mineral reserves and ample exploration opportunities are the key factors for success in the mining business in India. India, under this sector, produces different kinds of minerals like limestone, mica, petroleum product, coal, iron ore, natural gas and others. Furthermore, increase in demand for mining, its contribution for GDP and being an important exported product, mining can help a lot in the development of India as a whole.
This is really a risky sector. Carelessness may cause loss of life as well as other hazards. Proper planning is important for hiring labor force with skills, well-trained expertise, and knowledge. The major challenges are huge, investment requirement and precaution for environmental degradation.
8. Capital goods:
Investment: above billion
ROI: 5-8 years
India has emerged as one of the biggest manufacturing industries. For different kind of manufacturing business, raw materials in terms of input are required. Such materials used by other industries and firm used to produce another kind of products are termed as capital goods. Capital goods are durable in nature, commonly known as factors of production.
Various manufacturing industries require various kinds of materials. Since manufacturing industries has a bright scope, capital goods also have bright future. Various capital goods like tools, equipment, machinery, and automobiles are used for producing consumer goods.
9. Jewelry:
Investment: above billion
ROI: 4-6 years
India has a supreme position in making of jewelry business and exporting diamond, gems, and jewelry. It has a remarkable perspective for leading in the global map. The Ready availability of materials and history of memorable ranking in the field of jewelry are main reasons for exploring potentiality in this business.
Emphasis should be given for finest quality product with innovative product art and designs. Education, training, and skills play the vital role for further improvement and betterment.
10. Foodstuff:
Investment: above million
ROI: 4-8 years
India has maintained an outstanding place in manufacturing foodstuff. As foodstuff may be required anytime, anywhere, and by anyone, it has good marketability and profitability. The packaged food items like biscuits, cornflakes, chocolates, sweets, Horlicks, chips, lays, kurkure, noodles and much other foodstuff are consumed in a huge amount on a daily basis.
New item lists using other different types of vegetables, fruits, and other ingredients can be used to introduce new taste. The subject matters to be focused on are packaging, promotional tools, quality products, reasonable price, and healthy ingredients.
Each of the manufacturing business mentioned above is equally important in their respective fields. They serve to the economy just like oxygen serves for life. They help the nation in infinite ways. Unemployment problem, the global burning problem can be solved. They teach to be self-dependent and self-reliant with utmost pride and dignity. What can be the best thing other than recognition of the nation at international level?
Let’s make PM Narendra Modi’s campaign and words, “make in India” successful. To do manufacturing business is not so easy. It requires a combination of synergy, labor, and teamwork. Apart from this, availability of resources, devoted workforce, and complex machinery are other vital elements. India can soon move to the top rapidly as the largest growing economy. This assistance can be possible via backbone of India, the manufacturing business.
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