There are thousands of ideas which have created thousands of businesses in the Indian market. All the businesses have their own marketplace. They have a separate base of customers and investors. Some businesses have very much scope and some are doing moderate. After the government’s support , business culture has developed a lot in the Indian market. Even during the time of lockdown people were starting new businesses. That was the time when many companies got registered. If you are also having an idea and thinking about launching the same, it is the right time. People who have money but don’t have an idea then here we are going to discuss top 20 businesses in India. This will help you to figure out which business you can opt for.
Basic needs of a Business in India
All the businesses whether they fall under the top 20 businesses in India or not, have some basic needs to become successful in the market. Some of the basis things regarding starting a business are mentioned below:
- Choose a type of entity for your business. The entity can be a Section 8 Company, Public Limited Company, Private Limited Company, One Person Company, LLP etc.
- Incorporate the business
- Fulfill the legal and financial compliances of the business
- Opt for the protection of intellectual property of your business
- Proper advertisement is also necessary
- Social media presence is equally important
- Build a good team of employees
- Proper business plan must be there with you
- Do market research regarding the business one is going to start
List of Top 20 Businesses in India
Given below is the list of top 20 businesses in India for the reference of those who want to start a new business but do not have idea where they should invest. Here are top 20 businesses in India one can opt for:
Textile and Clothing
Clothes are the basic need of a human. Both the rich as well as the poor need this. Hence investing in this sector is profitable. Its business market is on both upper and lower levels. This business can be started with less investment. The margin of profit in this business is very high. For doing such a business one does not even need anything specific like educational qualification.
Telecom Sector
India’s telecom sector not only comes under top 20 businesses in India but also is the second largest business in the world. Hence there is no need to say that you can involve yourself in this business sector. The best example of the same is reliance jio. Few years back they invested in this sector and today they have developed an unbeatable business. This requires a good investment hence you can opt for it if you have that much funds.
Handloom Products Business
Whether we are talking about clothing or daily products, handloom is the most preferred one. Even this sector has been promoted by the government of India as well. The products are a little bit costly because they involve a lot of hard work and effort. But they are worth buying. In this business of handloom there are sub categories like some are making sarees, some are making toys, paintings, decorative items, bags etc. It is a kind of business which gives a lot of choices to the investors. Due to its unbeatable market it falls under the top 20 businesses in India.
Insurance Web Aggregators
This is not something which is new but we can say that it is an evolved business. There are a lot of insurance policies available in the market which makes the buyer confused. They sometimes end up choosing the wrong insurance for themselves. This is where Insurance Web Aggregators came into picture. They help in choosing the right policy for the buyers. They connect buyers and sellers of insurance policies with each other. To run this business the most important thing is Insurance Web Aggregator License which the business owner needs to obtain.
Food and Beverages Business
The Indian food and beverage market, with 1.25 billion consumers, is a significant part of the culture and heritage. To ensure food quality and safety in a growing industry, the government introduced the Food Safety and Standards Act in 2006, requiring every food business owner to obtain an FSSAI License. This license is essential to adhere to the guidelines outlined in the act.
Real Estate Business
Today the second name of development is big buildings and skyscrapers. All of them fall under India’s real estate industry. It is one of the booming industries in India. It has a ton of firms and employment opportunities. Its growth and development is very vast. It has great scope which is increasing day to day. It falls under the top 20 businesses in India for that reason.
Virtual or Cloud Based Businesses
In top 20 businesses in India, virtual and cloud-based enterprises are included. The digital era is currently in effect. One of the government of India’s projects, digitalization, was initiated a few years ago. Everything is readily available to us now, just a click away. We’re so impatient because of technology that we want stuff in our hands right away. The success of virtual or cloud-based businesses in India is attributable in part to this. Anyone can establish a business online while seated at home. Numerous virtual companies operating in India are flourishing on the domestic market. Blinkit, Uber, Ola, Raipdo, Swiggy, Zomato, Amazon, Flipkart, and others are a few of them.
Financial Services
The number of income tax returns filed by Indian citizens has increased during the past few years. This is as a result of the government’s harsh penalties for people who do not file their income tax returns. The government’s efforts to raise taxes awareness through penalties have a significant influence. Commercial banks, insurance companies, Non Banking Financial Company, and other organizations are some of the institutions that provide financial services.
IT Industry Business in India
There is no need to explain why this industry is home to some top 20 businesses in India. Website development, online services, BPO, software management, and software consultancy are all part of this sector of the IT economy. Today in the era of digitalization such IT businesses have no replacement. Their future is very bright and full of new technologies and opportunities.
Organic Farming Business
People start to care more about their health after learning about the negative impacts of fertilizers and pesticides. Terrace farming is a concept that is continually changing. In order to practice organic farming, more and more people are beginning terrace farming. If you see the market of organic food products, the scope of such businesses is also increasing. This is the right time to invest in such kinds of businesses.
Instagram Stores Businesses
If you are not having much investment but you are an influencer or having thousands of followers on social media then an instagram store of anything like clothes, shoes, makeup will be the best option for you. Nowadays there are a lot of people who are on social media and in such cases you can take advantage of having thousands of followers. It is under the top 20 businesses in India due to its scope and growth.
Banking Business
Banking sector is a very old form of business which is growing by adopting new technologies. It has been noticed that the baking sector is the one who has adapted a lot of new things like digital payment. Financial needs of the people are never ending as this business sector. If you are having crores of funds only then you can opt for this business. Although it demands high investment, its returns are also the same. Hence you should not hesitate to invest in this business sector which falls under the top 20 businesses in India.
Legal Services
The most common need of any kind of business is legal compliances. It is a supporting business of every other business. Hence its scope and growth is unlimited. The most preferred cities to start this kind of business are Delhi, Mumbai, Bangalore, Gurgaon, Chennai, Hyderabad, Indore etc.
Pharmaceutical Business
India is a major player in the generic drug industry, with a substantial market revenue, making it one of the top 20 businesses in India. The pharmaceutical sector offers diverse career opportunities, from doctors to scientists. However, due to its direct impact on public health, it’s heavily regulated, and legal compliance is crucial. Various licenses and permissions, such as wholesale drug licenses and Aayush licenses, are required. Non-compliance can result in high penalties, reflecting the industry’s responsibility for public well-being.
Wedding Planner a High Fashion Business
In India, big-budget weddings have become a widespread trend, with people from all walks of life opting for high-profile celebrations, even taking loans to do so. These extravagant weddings, including theme weddings, destination weddings, and foreign location weddings, have led to a thriving wedding industry valued at 40-50 million dollars, with an annual growth rate of 30-40%. Wedding planners play a crucial role in managing various aspects like food, clothing, venues, music, and permissions, simplifying the process and elevating the budget for those who seek lavish celebrations. This has propelled the wedding planning business into the top 20 businesses in India, known for its style and sophistication.
Cosmetics Industry
Cosmetic industry, market and its vastness needs no explanation. This is the most deserving business in the list of top 20 businesses in India. It has the highest profit margin. Just like other industries it is also governed by laws and regulations. The law which is applicable in this industry is the Drugs and Cosmetics Act of 1940.
Bakeries
Whether we are talking about home bakers or the big bakeries, both are making profit equally. Home bakers started their business with less investments whereas the other one needs a high amount of investment. There are a lot of machineries involved in this business without which it is impossible to open a bakery. Hence if you have funds you can open a bakery and if not you can start with a home baker business. Investing in this business is a good decision, especially in the current time.
Pet Hotels
Most people prefer to have a pet these days but it is not easy to maintain them. There are times when the pet owner needs to go somewhere its pet cannot go. At that time mostly people preferred to leave their pets at pet hostels. With the perspective of investment this business is best. It needs less investment but the profit margin is very high. Hence you can go for this business as well.
Education and Training Industry
The COVID-19 pandemic has spurred innovation in education, leading to the rise of online platforms like Byju’s, IGNOU, and Unacademy, offering accessible learning opportunities. In the last few years education has become part of business. Today people are investing a lot in these kinds of businesses. If we talk about their scope it is unbeatable in the most populous country like India. This is the reason it comes under the top 20 businesses in India.
Fast Moving Consumer Goods
Moving Quickly Consumer products is the broad definition of FMCG. The fourth-largest industry in India is FMCG. Its popularity extends beyond metropolitan residents to the rural populace as well. In the FMCG industry, products for home and personal care account for 50% of sales. It is one of the companies that was severely impacted yet recovered quickly after the pandemic. The reason a pandemic is used as an example is to show how this industry continues to survive and remain competitive in the face of adversity. It is the most deserving company to rank among India’s top ten corporations.
Examples of Some of the Successful Businesses
There are many businesses which are from the above categories and are successful today. The list of few of them are mentioned below:
- TATA
- Reliance Industries
- Airtel
- HDFC
- Life Insurance Corporation of India
- State Bank of India
- Mahindra Finance
- ICICI Bank
- Infosys
- Wipro
- Godrej
- L and T
- Axis bank
- Maruti suzuki
- Hero motors
- Chai Sutta Bar
- MBA Chai Bala
- Boat
- Mamaearth
- Sugar Cosmetics
Conclusion
The current write-up is regarding the top 20 businesses in India. The Indian business landscape offers a diverse array of opportunities, with various industries flourishing in this dynamic market. From the ever-expanding education sector driven by online learning platforms to the booming real estate and pharmaceutical industries, India is a land of entrepreneurship and innovation. Even amidst challenges, businesses like wedding planning and virtual ventures have found their niche. Successful conglomerates like TATA and Reliance, along with emerging stars in the startup world, showcase the nation’s thriving business culture. Regardless of your investment capacity, the Indian business ecosystem provides a platform for diverse enterprises, making it an exciting time to explore your entrepreneurial ambitions.
