What is The Best Business Area in India
India has been an ideal tourist destination for years and for this reason scores of Indians visit the country every year. Being one of the most preferred tourist destinations in the world, India attracts hundreds of tourists every year. But this is not the only reason why the country enjoys a healthy tourism revenue. Over the past few decades, India has emerged as one of the top business destinations in the world. And for those on-the-go professionals out there who do not miss a chance to learn, develop into excellent leaders.
Healthcare Business Area in India
With over a billion people in India, it is no surprise that there are many thriving businesses. In fact, India has the third-highest rate of entrepreneurship among emerging markets and the best entrepreneurial environment for women. As India’s economy is booming, the best business to invest in right now is one that caters to India’s fast-growing population. In order of popularity, the first best type of business to consider investing in would be one that caters to health. With over two thirds of Indians not having healthcare insurance coverage and many still relying on dangerous traditional medical practices rooted from superstition, it may be wise to invest in an organization that provides affordable Western medicine treatments with high quality care. There are several great options available such as Apollo Hospitals or Fortis Healthcare.
Business and Poverty
In addition, what better way than by helping alleviate poverty? The second best option would be to invest in a company that provides job opportunities for the unemployed. One such option is Hindustan Unilever Ltd., which has been successful over the past decade by creating jobs and providing affordable sanitary products across India. A third best business opportunity would be investing in an Indian Businesses with high growth potential, as they are likely to yield higher returns on investment (ROI) than more stable businesses due to their low production costs. An example of this type of business could be Tata Consultancy Services Limited, who specializes in IT services, consulting and outsourcing solutions.
The third Indian hot potato is the BPO sector, which stands for Business Process Outsourcing. BPO refers to the outsourcing services provided by Indian outsourcers which includes call centers, software development, payroll, accounting, and other accounting related services. There are many BPO service providers in the country, which have hundreds of offices all over the country which have been providing this type of support to their clients all over the world. The global outsourcing market is worth $150 billion a year which has helped BPO service providers to grow at an annual rate of about 20%. The research shows that there are more than 300 BPO service providers in the country which have total funding of around Rs 26 billion that has helped many small organizations expand their businesses successfully. With increasing business demands for cost cutting measures led by global economic downturns along with the availability of skilled labour force from nations like India who offer lower rates than developed nations, BPO has become a lucrative sector.
IT options in India
The fourth business option is the information technology or IT industry, which is developing rapidly in the country. The IT industry in India has not only grown exponentially, but it’s also a huge contributor to the country’s GDP. IT is one of the largest industries in India and has been for a while now. The IT industry employs over 3 million people in India and generates revenues of $138 billion annually. Many multinational companies in the US and the UK have set base their offices in India due to the cheap labor cost and the quality of life in the country. According to this research, there are many Indian tech startups in the top twenty IT sectors which have a total funding of about Rs 25 billion, which is a great investment for any entrepreneur looking to start a business in the country. Besides the BPO and IT sectors, IITs have also started opening up several offices in India. Therefore, for any entrepreneur looking to start their own business, investing your time into starting a company within this field is a great option.
Moreover, while IT has been the backbone of Indian economy for many years, new entrepreneurs are now looking at fields like ITES and KPO to invest their time in. While IT may be facing financial uncertainty, investment is still bearing fruit with ITES companies such as Zoho making it into the top 20 IT firms this year which is an amazing feat considering that they only started out three years ago! What does this mean for India’s future? There will always be demand from customer service centers across countries who require English speakers- but what about those tech startups we mentioned before? If you’re thinking of starting your own company within these sectors then don’t worry – there’s plenty more opportunities coming up on the horizon just waiting for someone like you.
Hospitality and Traveling
The last two business options that are the best in India for entrepreneurs according to my research are the hospitality and travel industry. India is becoming an important hub for tourism as well as the hospitality industry, which have contributed largely to the country’s economy. The country has been receiving tourists from all across the globe for decades and its culture, traditions, and people continue to attract tourists from every corner of the world. Hotels and resorts in the country provide excellent amenities and services along with modern and comfortable interiors that can easily impress tourists. According to the research, there are many luxury five-star hotels in India that have total funding of around Rs 712 crores which is a great investment for any entrepreneur looking to establish a business in the country.