Best Business Ideas in India
As a country, India has always been at the center of being trading and an investment hub since ages. At a point of time, this beautiful nation was also referred to as the Golden Bird because of its worthy resources.
The country is still endowed with some of the best resources which make it a competitive place to start a business. However, in recent years, majorly after independence, the government of India has had a protectionist view about production, manufacturing, and setting up businesses within the borders of the country. The increasing effect of globalization and liberalization which stared in the last decade of the 20th century has opened up the Indian market and there has been an influx of trade and business within the country.
The current government regime has been promptly supportive about setting up businesses in India. Plans and proposals such as Make in India have further supported the idea of doing businesses in India a worthy proposition. The government has further eased the process of setting up a business in India. Therefore, the Non-Resident Indians or the NRI’s who have been searching out an avenue to come back to India and start a business or those who wanted to touch base with the Indian professional arena with their own setups and ventures, this is probably the right time to think about the same.
New Business Ideas For NRI
Business is done following the gut feeling of the proprietor. The owner of the business takes a risk and trusts his/her gut while deciding to start a business and even while defining the entire business plan and setting it up. The owner risks his/her resources, his/her time, his/her dreams, and his/her efforts. But such a risk is worthwhile the owner wisely considers the profit he/she would reap from such a venture.
As far as business ideas are concerned, primarily this a result of the core interest of the owner of the business. The owner then researches his/her core area of interest to find out the exact gap which his/her business can cater and in turn earn a huge profit. There are ample business opportunities available for the Non-Resident Indians who wish to set up their business ventures in India. They are further provided various incentives including easy loans and funding opportunities to help them set up their ventures.
Business Ideas in India For NRI
There are ample avenues to do business in India. The businessman simply needs to keep his/her eyes and ears open to find out the cues and understand the gap in the market which can be filled by their business ideas in order to reap generous profits out of such ideas. Some Business Ideas in India for NRI trying to set up a business venture in India include:
Setting up Data Entry Firms: India still is a data-driven country. With its huge population, records and data become an almost synonymous name. Therefore, Non-Resident Indians can start a business of providing data entry services which is unlikely to lose sheen in the near future as well. Further, setting up such a business would require nominal investments. The business has high chances of success in case it employs the best-skilled workers who are abundantly available in India.
Become a Supplier of Branded Products for various Indian Firms: The Non-Resident Indian can become a supplier partner for various firms and help them sell their branded products to the various wholesalers and retailers. Indians have a fascination with branded products. And the fascination doubles when the branded product is imported as well. Therefore, becoming a supplier of branded products would be a profitable venture.
Creating an Online Consumer Support Platform: With the influx of foreign imported goods into the globalized economy, there has been an increasing demand of online consumer support to help the consumers use the product and attend to any grievances and queries related to the products. With the additional benefit of low manpower costs, low-cost internet telephones, low cost of telephone usage, and email access, it would be easy and profitable for the Non-Resident Indians to take this as a business venture.
Starting a Software Company in India
The Information Technology revolution of India has given a new hope not only to the people of India but also to the businessmen across industries and across the verticals. The Information Technology revolution has taken almost all the industries by a storm and has changed the way in which business has been conducted.
The Information Technology revolution has further dictated the increase in the pace of innovation which is required to stay in the competition, technology these days fade even before people start accepting it. Therefore, there has and there will always be an increasing demand for businesses related to information technology. Software companies play a pivotal role in such an ever-changing Information Technology business. Thus, setting up a software company sounds like a profitable business proposition.
The next question is Can a Non-Resident Indian start a software company business in India? The answer to the same would be Absolute Yes. India, as a country, has been bestowed with the best of talents. India possesses the best brains and India possesses the maximum number of skilled laborers who are much cheaper than their foreign counterparts. Thus, setting up a software company in India would likely be a money-spinning business idea for the Non-Resident Indian settled abroad. This would further suit the businessmen who already have a software company outside India to open a branch in India and utilize its tremendous resources at much cheaper costs.