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Business Ideas to make you a Promising Entrepreneur

Monday, July 16, 2018

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Business Ideas to make you a Promising Entrepreneur. What is the best Small and Medium Scale Industry to start in India?

 

Micro, Small & Medium enterprises- is the pillar of economic growth in many developed, and developing countries in the world. The advantage of this sector is it requires less investment, thus creating employment on a large scale, and reducing the employment and underemployment problems. Moreover, this sector has survived almost all threats emerging out of still completion from both domestic and international market.

Micro, Small and Medium-sized Enterprises (MSME) are one among the most important sectors, forming the backbone of the Indian economy. This sector has been instrumental in the growth of the nation, leveraging exports, creating huge employment opportunities for the unskilled, fresh graduates, and the underemployed, also extending the opportunities to banks for giving more credit to enterprises in this sector. The government should take utmost care of this sector in terms of providing more and more MSME Registration benefits through better regulations, Government simply, and enabling financial institutions to lend more credit at less interest rate for sustainability of this sector.

This sector even assumes greater importance now as the country moves towards a faster and inclusive growth agenda. Moreover, it is the MSME sector which can help realize the target of proposed National Manufacturing Policy of raising the share of manufacturing sector in GDP from 16% at present to 25% by the end of 2022.

 

Below is a list of the most Profitable business ideas:

Chokes and Patti

Choke is a simple device used in fluorescent lamp circuits to provide a H.V. Sure across the lamp electrodes during starting to initiate discharge through the low pressure gaseous medium between the two electrodes. It also limits the current during normal operation after the discharge has been established. Choke also called as ballast, consists of highly inductive insulated wire wound over sheet iron lamination enclosed in sheet metal covering.

In electronics, a choke is an inductor used to block higher-frequency alternating current (AC) in an electrical circuit, while passing lower-frequency or direct current (DC). A choke usually consists of a coil of insulated wire often wound on a magnetic core, although some consist of a doughnut-shaped "bead" of ferrite material strung on a wire. The choke's impedance increases with frequency. Its low electrical resistance passes both AC and DC with little power loss, but it can limit the amount of AC due to its reactance.

The F.T. Patties are manufactured as per the OEM specifications only is galvanized steel sheet material of 18 swg to 20 swg sheet thickness and channel width=48mm,   channel depth=15mm. The fixing hole, are well  specified for chokes, starter, holders and other purposes that these patties are made in mild steel sheets which don't easily  deform under  simple handlings. These are painted bright with Aluminium paints or zinc plated for attractive appearances.

Nursing Home

Nursing homes are a type of residential care that provide around-the-clock nursing care for elderly people. Twenty-four-hour nursing care is available. Nursing homes will provide short-term rehabilitative stays following a surgery, illness or injury which may require physical therapy, occupational therapy or speech-language therapy. Nursing homes offer other services such as planned activities and daily housekeeping services. Nursing homes may also be referred to as convalescent care, skilled nursing or a long-term facility. Nursing homes may offer memory care services or have a separate area specified for memory care.

Some nursing homes are set up like a hospital. The staff provides medical care, as well as physical, speech and occupational therapy. There might be a nurses' station on each floor. Other nursing homes try to be more like home. They try to have a neighborhood feel. Often, they don't have a fixed day-to-day schedule, and kitchens might be open to residents. Staff members are encouraged to develop relationships with residents. Most nursing homes have nursing aides and skilled nurses on hand 24 hours a day.

The market size of hospitals and nursing homes will be Rs 54,000 crore with 20 per cent growth rate per annum; medical equipment Rs 9,000 crore with 15 per cent growth; clinical lab diagnostics Rs 9,000 crore with 30 per cent growth. In FY17, Indian healthcare sector stood as the 4th largest employer as the sector employed a total of 319,780 people. Rising income levels, ageing population, growing health awareness and changing attitude towards preventive healthcare is expected to boost healthcare services demand in future.

Eucalyptus Tree Plantation

Eucalyptus is a genus of trees. There are over 700 species of eucalypts, and almost all of them are in Australia. Eucalypts can be found in almost every part of the Australia, and they are adapted to many different habitats. Eucalyptus is one of three similar genera that are commonly referred to as "eucalypts", the others being Corymbia and Angophora.

Eucalyptus trees are an asset to the landscape, adding visual appeal, year-round structure, fragrance and sometimes flowers. Shrub types make excellent windbreaks on coastal sites. They are easily grown from seeds and tolerate dry, sandy and salty soils, thriving in places where other trees can't grow. These fast-growing trees provide shade that cools the environment and they also act as a carbon shed to clean up the air. Because they grow more quickly than most other hardwoods, they are an excellent source of firewood. Using eucalyptus as firewood cuts down on the use of valuable native species as fuel.

The growing stock and yield in eucalypt plantations varies considerably depending on the site, the edapho-climatic conditions and the inputs. The potential productivity is around 5 tons of biomass/ha/yr on an average, but the average production is some 2.5 ton/ha/yr. The average yield from the private plantations is much higher. In Kolar District, Karnataka, the average productivity is around 5 ton/ha/yr. The yield recorded from Government plantations so far is still less. This is due to the increased removal by the people for their bona fide use at regular intervals.

Filter (for All Vehicles)

Filters containing an absorbent or catalyst such as charcoal (carbon) may also remove odors and gaseous pollutants such as volatile organic compounds or ozone. A particulate air filter is a device composed of fibrous materials which removes solid particulates such as dust, pollen, mould, and bacteria from the air. Filters containing an absorbent or catalyst such as charcoal (carbon) may also remove odors and gaseous pollutants such as volatile organic compounds or ozone. Air filters are used in applications where air quality is important, notably in building ventilation systems and in engines.

Automotive filter remove the solid matters such as dust, mould and pollen from the fuel and gas. Automotive filters help the engine to run smoothly and ensure that there is adequate air flow to the engine which further lessens the fuel consumption and carbon emission. High research & development and collaboration between companies have been seen as an emerging trend across the global automotive filter market.

The global automotive filters market is expected to intensify in the near future. The fragmented nature of competitive landscape likely to remain so due to an unstoppable influx of new players. An automotive filter aids in extending engine life, as it competently traps dirt and debris that damages the internal parts of an engine such as pistons and cylinders. A small particle of salt can damage the engine, which further entails high repairing cost. Automotive filters enables proper air flow to the engine, thus maintaining optimal combustion through appropriate air-fuel mixture.

Ayurvedic Pain Balm (Ointment)

Ayurvedic pain balm helps in balancing the blood circulation and reducing the inflammation. Inflammation can be caused by building up of toxins under the skin and Ayurvedic ointment for muscle pain helps in getting rid of them.

Ayurveda, the traditional Indian medicinal system remains the most ancient yet living traditions with sound philosophical and experimental basis. It is a science of life with a holistic approach to health and personalized medicine. It is known to be a complete medical system that comprised physical, psychological, philosophical, ethical, and spiritual health. In Ayurveda, each cell is considered to be inherently an essential expression of pure intelligence hence called self-healing science. In addition, to the self-healing concept, the use of herbal treatment is equally important in this Indian traditional system of medicine.

Electronic Cut Out For Automobile

Electronic cut-out is an electronic protection which can charge and discharge the battery as per the alternator requires current. A pair of wire is mounted on the cut-out, called as phase and neutral which comes from the alternator discharged from the alternator and pases through the circuit of the cut-out.

As the speed of the alternator increases and its terminal voltage rises, current will flow from the alternation to battery through electronic cut-out. When the output voltage exceeds the predefined voltage, which is adjusted before at potentiometer, then the cut-out does not allow the battery to charge again. The current flow through the cut-out will be grounded. Again when the alternator voltage decreases compare to the battery voltage, then the battery will start supply the current to the alternator.  The supply of the battery current will continue till the voltage of the alternator rises to its pre-define value.

The cut out has no part in varying the rate of charge of the alternator, its only function being to connect the battery to  the changing circuit as soon as the alternator terminal voltage  rises above that of the battery, and to disconnect the battery when the alternator terminal voltage falls below this level. If the cut out contacts remain closed with the alternator stationary, a heavy current will flow from the battery through the alternator armature and will very quickly burn out the armature conductors. For this reason it is extremely unwise to close the cut-out contact whilst the engine of the vehicle is stationary.

Red Oxide Primer [Anti-Corrosive]

Red Oxide Primer is specially formulated for use on both bare and rusty iron and steel. Red oxide primer is a specially formulated coating used as a base coat for ferrous metals. Red-oxide primer serves a similar purpose to interior wall primers in that it prepares your metal for a topcoat, but it also gives iron and steel surfaces a layer of protection. Working with red oxide primer is not difficult.

Red oxide primer is intended for use on interior and exterior ferrous metal and is not usually suitable for galvanized or nonferrous metals like aluminum, copper or brass. Ferrous refers to metals that contain iron. If you’re uncertain whether your metal is ferrous or nonferrous, use a magnet to test it. Ferrous metals are magnetic, and nonferrous metals are not. It is also not suitable for use on asphalt or bituminous surfaces. Red oxide primer is an anti-corrosion coating designed to stop rust formation. It can be applied directly over a rusty surface and is most ideal for exterior use. Red oxide primer can be covered with most conventional topcoats once it fully dries.

Red Oxide Primer can be used for:

·         BBQ

·         Fire Surround

·         Garage door

·         Metal Garden furniture

·         Metal Railings

·         Radiator

Pressure Die Casting

Pressure die casting is a quick, reliable and cost-effective manufacturing process for production of high volume, metal components that are net-shaped have tight tolerances. Basically, the pressure die casting process consists of injecting under high pressure a molten metal alloy into a steel mold (or tool). This gets solidified rapidly (from milliseconds to a few seconds) to form a net shaped component. It is then automatically extracted.

Die casting process is preferred for nonferrous metal parts of intricate shapes. Examples of products are automobiles appliances, hand tools, computer peripherals, toys, optical and photographic equipment etc.

Advantages of Pressure Die Casting:

·         Lower costs compared to other processes.

·         Economical - typically production of any number of components from thousands to millions before requiring replacement is possible.

·         Castings with close dimensional control and good surface finish

·         Castings with thin walls, and therefore are lighter in weight

Depending upon the pressure used, there are two types of pressure die casting namely High Pressure Die Casting and Low Pressure Die Casting. While high pressure die casting has wider application encompassing nearly 50% of all light alloy casting production. Currently low pressure die casting accounts for about 20% of the total production but its use is increasing. High pressure castings are must for castings requiring tight tolerance and detailed geometry. As the extra pressure is able to push the metal into more detailed features in the mold. Low pressure die casting is commonly used for larger and non-critical parts.

Bonded Abrasives

Bonded abrasives are a mixture of abrasive grains, fillers and bonding materials. The bonding agent can be vitreous; resin, rubber, shellac, epoxy, magnesite and a range of bonding materials often referred to as a ‘plastic’. They are used to remove surface materials such as metal, ceramics, glass, plastics, and paint. Bonded abrasives are used in both grinding wheels and abrasive stones or sticks. Grinding wheels are used in a variety of applications and industries, while abrasive stones or sticks are used for sharpening edges and honing internal or external surfaces.

Bonded abrasives are the natural or synthetic abrasive grains which are usually bonded into a solid form. Bonded abrasives are usually made of the abrasive grains that are closely sized and molded or pressed to produce a wide variety of the products. Bonded abrasives are usually in the shape of a wheel. The products range of the bonded abrasives also includes the snagging wheel, mounted wheel, grinding and the cut-off wheel, cones and plugs. Bonded abrasives are mainly used for precision grinding, cutting, rough grinding, and lapping, sharpening and light grinding among others.

The growing automobile industry is expected to boost the overall growth of the bonded abrasives market. Bonded abrasives are widely used in giving the required surface finish as well as the desired design to the automobiles. The increasing demands for the advanced technology based machineries are further expected to boost the demand for the bonded abrasives. The bonded abrasives help in the super finishing of the machine shaft in order to achieve the required roughness. The bonded abrasives are used in providing the smooth finish to the various tools and the machineries that are manufactured. The bonding abrasives are used in the polishing as well as deburring of the bore holes on the machine blocks. Regular maintenances of the workshops further boost the overall demand for the bonded abrasives market. The increasing use of the bonded abrasives for de-scaling and for the rust and dust removal has augmented the overall growth for the bonded abrasives market. The bonded abrasives are also widely used in the medical sector. Bonded abrasives are used to sharpen the dental tools. The bonded abrasives are also used for smoothening of the edges of the dental tools such that it is extremely convenient for the doctors to use the dental tools on the patients.

Magnesium Hydroxide Powder

Magnesium hydroxide is a white, odourless, inorganic alkaline compound, which has strong neutralizing properties compared to conventional neutralizing agents such as caustic soda. Magnesium hydroxide is abundantly found in nature in the form of brucite minerals or produced from brine sea water by the precipitation method. It finds variety of application across diverse set of industries. Some of the prominent applications include environmental applications such as flue gas desulphurisation and wastewater treatment. It provides superior and cost effective solution as a neutralizing agent in waste water treatment application, as compared to the conventional water treatment chemicals such as caustic soda.  In flue gas desulphurisation, it is used as an absorber to recover sulphur di oxide from flue gas. Another protruding application of magnesium hydroxide is in pharmaceuticals. Its suspension, also known as milk of magnesia is used as an antacid or laxative to recover gastrointestinal illnesses.  It also used as flame retardant or smoke suppressant in plastics such as polyamide, polyvinyl chloride, and polypropylene, etc. Its endothermic degradation at relatively higher temperature and thermal stability marks it a potential choice as an additive over other flame retardant additives present in the market. Other magnesium hydroxide applications include cellulose protector in pulp and paper industry, as a source of magnesium for different applications, manufacturing of magnesium salts, ceramic, food additives, and lubricants.

The increasing consumption of magnesium hydroxide in environmental applications is expected to be the primary driver for magnesium hydroxide market growth. Increasing wastewater treatment investment by oil & gas industries, chemical industries, power plants and municipal corporations, globally is anticipated to drive the magnesium hydroxide market growth, further. Besides, rising efforts of environmental organizations toward reducing the use of halogenated flame retardants is anticipated to drive the magnesium hydroxide market, over the forecast period.

Automobile Gaskets

Gaskets are the components used in vehicles to prevent fluid and gas leakage. They fill the gap between the automotive components thus ensuring no leakage. The seals prevent lubricants from escaping the bearings. The seal also avoids dust and other contaminants from entering the machinery. With the technological advancements, gaskets and seals offer an effective means to obtain better fuel economy and have reduced the repair and maintenance requirement, thereby improving the average life span of automotive components. Moreover, the stringent regulations regarding the maximum limit on emissions as incorporated by automotive agencies are further expected to drive the market. There has been an increasing usage of lightweight materials such as silicone rubber to further cut fuel cost and improve efficiency. The manufacturers are focusing on the development of materials that reduce the fuel requirement and can withstand high heat as well as pressure.

Papain Extraction from Papaya

Papain is a natural cysteine proteolytic enzyme present in mountain papaya (Vasconcellea cundinamarcensis) and papaya (Carica papaya). It is native to Latin America and is also called as papaya proteinase. It is used to tenderize meat eaten as it breaks down tough meat fibers. Papain is an active component in powder form for meat tenderizers and has a huge demand in the global market. Papain also used in chemo-mechanical dental caries removal gel known as Papacarie, as a tooth whitener in mint sweets and toothpaste, to clean up dead tissue in chronic wounds, as a component of many enzymatic debriding preparations, and cell dissociation in cell culture preparations. The end-use industries of the papain include leather, food & beverages, detergents, cosmetic, tanning, optical, photographic, textile, and pharmaceutical. The North America papain market accounts for relatively high revenue share, followed by Western Europe papain market over the forecast period, attributed to relatively strong demand for papain and broad availability of raw material in the regions.

Global papain market is segmented by end-use industry and by region. By end-use industry, the global papain market is sub-segmented as food & beverages, cosmetic, textile, pharmaceutical, other industries such as detergents, tanning, optical, photographic, etc. Among these, the pharmaceutical segment is expected to contribute to the significant revenue share with a relatively high growth rate over the forecast period in global papain market. A pharmaceutical segment follows food & beverages segment with a relatively high growth rate concerning both value and volume in the global papain market.

Increasing consumer needs for soft textured meat products for use is anticipated to escalate the market demand for papain on a global level. Papain in powdered or liquids forms are extensively used in the meat industry. Increasing health awareness among consumers have a positive impact on natural proteolytic enzyme such as papain. These proteolytic enzymes are widely used in meat industry to tenderize or soften the meat fibres.

Solar Water Heater

Solar water heater is a device that can be used to capture sunlight in order to heat the water in your pipes to be used for baths, showers, etc. Solar water heater or SWH comprises a solar panel, inverter system, and a water storage tank. The sunlight that falls on the solar panels is used to heat the water inside the insulated storage tank either through a pump or directly through the thermosyphon principle. In the thermosyphon principle, fluid circulation is based on natural convention, where warm water rises and is replaced by cold water. Some of the advantages of SWHs over CWHs are: cost-effectiveness and reduced dependence on other fossil fuels. SWHs are generally installed on the roof of a building where the intensity of sunlight is maximum throughout the day.

The market for solar water heaters in India is expected to reach INR 1369 crore till 2021. Karnataka and Bangalore are having maximum share in India. In India the SWH market has been through many ups and downs. The market changes drastically in some year, remains stable for a while and then again decreases as shown in the below graph. In solar water heaters the residential sector is driving the market.

Residential sector has penetrated almost 80% in the market. Industries and other commercial institutes are also picking up solar water heater as a better option. Electric water heaters are still dominating the market, but solar water heater is also growing rapidly to make a considerate share in the water heater market.

Global Solar Water Heater Market is projected to exceed USD 4 billion by 2024, growing demand for environment friendly, cost effective and reliable systems for water heating purposes across commercial, industrial, and residential sector will augment the solar water heater market. Ability to reduce electricity bill by 50% to 80% will encourage the product penetration over the forecast timeline.

Plastic Moulded Furniture

Plastic moulded furniture has virtually exploded in the Indian scenario and from a stage of infancy the field has risen to almost 70 million in volume, consuming almost 170 kt of polypropylene material. Plastic furniture is essentially based on composition of polypropylene (PP) which contains hopolymer to provide rigidity and copolymer to lend impact. Plastic moulded furniture could be labelled as environment friendly since it contributes immensely in saving forests.

Bihar produces more than four lakh units of plastic furniture per day, including chairs, centre tables and dining tables. Industry experts said each mould used in manufacturing plastic furniture costs around Rs 25 lakh. China, Nigeria, America and Germany are the major suppliers of moulds in the world.

Teak Plantation

Teak is a tropical tree indigenous to South East Asia. Most Teak comes from managed plantations in Indonesia, India, Myanmar, Philippines, and Malaysia.

Increasing demand for teak has prompted foresters to explore other geographic locations for teak plantations. Only a few have proved suitable including Equatorial Africa and Costa Rica. Teak is propagated mainly from seeds. Germination of the seeds involves pretreatment to overcome dormancy. Pretreatment involves alternate wetting and drying of the seed. The seeds are soaked in water for 12 hours and then spread to dry in the sun for 12 hours. This is repeated for 10–14 days and then the seeds are sown in shallow germination beds of coarse peat covered by sand. The seeds then germinate after 15 to 30 days.

The Teak wood farming is highly profitable farming due to its demand in the current domestic and international market.

 

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