Forty Plus Recommended Profitable Industries for Startups

Before starting any business, it is important to have proper planning and strategies to set up a profit making business. Even before planning, selection of an appropriate project plays a vital role in its advancement. Though there are no set rules to analyze a successful business project, all of your business outcomes depend on this particular choice. NPCS suggests you to have a SWOT analysis before choosing a project for a business startup which will help you identify your weaknesses and strengths much in advance, hence helping you to initiate a suitable business project. Emphasising on the need of taking a stand for your career, Honorable Prime Minister Narendra Modi from India said that envisaged loans of around 10 lakh to 1 crore will be given to at least two entrepreneurs from scheduled caste, scheduled tribes and women categories. Also, there will be no tax to be charged by the government of India from the startup companies for initial 3 years. By empowering startups, Indian government tends to raise economic growth and generate large scale employment opportunities for its public. With great support by the government and  selection of an appropriate project here comes the time to  plan further  other requirements to be analysed such as raw materials, manufacturing processes, formulas, properties, and other costs.

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Startup Projects and Its Growth Rate

●     Toothpaste Production

Toothpaste the necessary item used by every individual worldwide. With new advancements in the toothpaste industry, many products such as herbal toothpaste, sensitive toothpaste, children toothpaste, and teeth whitening toothpaste are introduced and used widely by the public in the society. Toothpaste industry is expected to rise 5% by 2025, besides previously it had a turnover of 15000 million in 2017.

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●     Glass Fiber

The market of glass fibre is expecting a good amount of growth in the near future as its demand is increasing day by day. Glass fibre, offering versatile shape and design, has been increasing its demand due to its quality and increasing constructional activities. As per NPCS, Indian glass fiber industry is about to reach more than 750 million pounds in the coming years. After 2011,  the glass fibre industry has gained a rise in growth of its sale as due to its super quality, even more than  50% of glass fiber is being used in certain projects. Thereby, it is considered to be one of the growing industries worldwide.

●     Instant Noodles

Instant noodles, gaining popularity worldwide, is a recognised taste and product with increasing demands every now and then. It is obvious to say that it is not going from the market as it’s handy, time saving and a quick meal for youth away from home for work and studies. Despite several allegations raised, the product managed to step back to the market with no severe loss and is still gaining a good amount of revenue worldwide. As compared to 2019, there is an expected increment of 30 billion USD which is around 6% of CAGR, globally. As per NPCS, due to covid-19, the sale of instant noodles have been increased due to a ban on outside food during the lockdown period, as a heavy bulk sale was seen of packaged food in that time.

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For more project ideas and detailed knowledge of manufacturing, cost of production and other business details, refer to NPCS’s book, Startups Projects For Entrepreneurs: 50 Highly Profitable Small & Medium Industries. This book suffice the knowledge of 50 different and profit making projects such as Caffeine, Complex Fertilizers, Garlic Oil And Powder, Glass And Plates, Camphor, Edible Corn Oil, Thermal Cups, E-Waste Recycling, Disposable Plastic Syringes and various others.

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