Apparently, the manufacturing sector gives employment to around 12% of the Indian workforce. As per a study done in 2014, the sector contributes about 16% to 17% of its GDP. The target is to raise the manufacturing sector contribution to 25% in the Indian economy. Many government initiatives are being practised across India to promote manufacturing business ideas in various sectors such as food, fashion, basic amenities, leisure, and more. Due to that, the scope of the manufacturing business in India is widening day by day. We have listed a detailed overview of the top 6 profitable manufacturing business ideas in India.
1. Garments or Clothes Manufacturing Business
India is known for its rich cotton and silk fabrics. Suppose you live in an Indian state known for its quality cotton or silk production or has an excellent source to purchase quality raw resources required for garments manufacturing. In that case, the garments or clothes manufacturing business will be the best idea to work on. You can start this business as a small-scale one from your home itself, and later on, you can shift to a bigger space with advanced pieces of machinery and a skilled workforce.
How to open this venture: To open a garment or clothes manufacturing business, you will need a closer place to the raw material sources and import or export hubs. You can start this manufacturing business idea on a small scale with an investment of around 6000 INR or a medium to large scale with investments around 4,00,000 INR or above.
2. Wooden or MDF Furniture Manufacturing Business
As per the recent report, the Indian furniture marketplace is expected to inflate at a CAGR of 12.91% during 2020-2024. So, opting for a wooden or MDF furniture manufacturing business will be a profitable manufacturing business idea in India in the coming future.
How to open this venture: To open a wooden, MDF, or particle board furniture manufacturing business, you will need a well-ventilated space for the workshop with an adept set of carpenters or workforce and an investment of around 2,50,000 INR or above.
3. Disposable Cutleries Manufacturing Business
Demand in food joints and takeaways has witnessed remarkable growth in recent years. We can say the same about disposable cutleries as well. These food joints are looking forward to adapting high-quality yet economical disposable cutleries such as paper napkins, cups, spoons, forks, plates, bowls for raising their food delivery standards. So, investing and planning out in the disposable cutleries manufacturing business will be profitable in India.
How to open this venture: To open a disposable cutlery manufacturing business, you will need a space to set up the manufacturing plant with a proper ventilation system and power backup, a workforce to manage the production and import or export sales cycle of the business. You will require a lump sum amount of investment of about 1,50,000 INR or above.
4. Cakes, Cookies, or Bakery Items Manufacturing Business
Did you know that the bakery is one of India's most prominent industries in the food sector? India is known for its vivid festivals and celebrations, and the demand and supply of bakery items are undeniable. If you are adept with baking skills or have a skilled set of bakers, you can plan to open cakes, cookies, or bakery items manufacturing business in India.
How to open this venture: You can launch the cakes, cookies, or bakery items manufacturing business as a home-based setup initially with an investment of around 12,000 INR. As your manufacturing business demands and requirements increase, you can go with a full-scale bakery business setup.
5. Fashion or Precious Jewellery Manufacturing Business
Just like the garments or clothes sector, jewellery is also considered one of the most profitable businesses in India. People are now more into handmade fashion or precious jewellery pieces with customised or unique designs. Suppose you have a creative eye for jewellery designing, in that case, you can start the jewellery designing and manufacturing business and market them with a planned marketing approach for maximum returns and more significant profits.
How to open this venture: To open a precious jewellery manufacturing business, you will need a quality raw material supplier for fashion jewellery pieces. To manufacture precious jewellery items, you will need a trustworthy and certified dealer of precious metals- gold, silver, platinum and precious or semi-precious stones such as – diamonds, pearls, sapphire, topaz, quartz and more. You can start this as a small manufacturing business idea with an investment of around 6000 INR or a medium to large scale business idea with a considerable amount of money to invest, which can be about 5,00,000 INR or above.
6. Candle Manufacturing Business
Demands of different candles are growing by leaps and bounds in the Indian market. Nowadays, people's inclination is towards other forms of candles such as aromatic candles, textured candles, figurine candles, aesthetic candles, customised candles, therapy candles, and more for various occasions and festivals. Follow a systematic and detailed approach for research and detailed market survey, with no going back. You can start the candle manufacturing business as a small-scale business idea from your home and shoot its demand globally.
How to open this venture: To open a candle manufacturing business, you will require trustworthy raw material suppliers, a well-ventilated space to manufacture candles, and a focussed product line for your candle manufacturing business. You can start this business with an initial investment of around 11,000 INR as a small-scale manufacturing business.
It would be best to have insight into India's know-how of the top 6 profitable and successful manufacturing business ideas. Based on the details, you can select the best manufacturing business ideas in India. For that reason, it is time to strategize your finances, including the budget and investment rates, the type of raw materials sources, location of your manufacturing hub, and other details. What are you waiting for? Start to draft a clear business plan and kickstart your manufacturing business in India.
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Q. Is a considerable amount of funds required as investment and budget to open a manufacturing business in India?
Ans. The amount of funds as investment and budget depends upon various factors such as scope, marketing activities, targeted audience, and raw material costing required to establish a manufacturing business in India. However, you can also go for small-scale manufacturing business from home and expand the manufacturing business as per the demands and needs. For opening a small-scale manufacturing business, you will not require a considerable amount of funds initially.
Q. How much time is required to establish a manufacturing business in India?
Ans. Rome wasn't built in a day! Establishing a business, be it a small-scale or a large-scale business idea in any country, needs proper research and study with substantial hard work, labour, and patience. There is no sure shot time duration within which a manufacturing business can flourish and expand with profit and maximum returns. The period required to establish a manufacturing business in India depends on the industry sector, the targeted audience, and the amount of hard work involved in various stages, such as manufacturing products.
Q. Does the Indian market have a high manufacturing business scope?
Ans. The scope of any business idea in India is vast. The country is known for its rich natural resources, raw materials, high-quality food products, and convenient business and trade route. Also, India has incredible connectivity with other countries, making it one of the most sought after markets in manufacturing business. The Indian government is also focusing more on the Make in India concept and promoting new start-ups and entrepreneurs to develop their manufacturing business ideas in India.