Bihar is the next best place for industrial and manufacturing businesses because it houses potential for immense enterprise opportunities. The fertile soil is rich with agricultural produce, coupled with a highly skilled workforce and steadily improving infrastructure; Bihar provides much fertile ground for many entrepreneurial business ventures. You want to start manufacturing business ideas in Bihar and are searching for ideas? Here are some of the most lucrative ventures for you to try out.
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1. Agro-Based Industry
Starting agro-based manufacturing businesses in Bihar can turn out to be very profitable, as it has fertile soil and produces more than average. Such undertakings can be focused on food processing, packaging, or storage of grains, fruits, and vegetables. The industry involves an increase in the demand for processed food and packaged goods and remains a very lucrative business opportunity.
2. Handicrafts Industry
Bihar is renowned for its traditional arts and crafts, such as Madhubani paintings, Sujani embroidery, and Tikuli art. Opening a handicraft manufacturing business in Bihar would promote these heritage goods and make immediate good profits. The demand for handcrafted products from these arts is high in domestic and international markets.
3. Textile Industry
The textile industry is the third fastest growing industry in Bihar. Setting up a textile manufacturing industry in Bihar can include the production of handloom fabrics, sarees and readymade garments. This promising sector holds high potential for returns when coupled with proper branding and marketing.
4. Leather Industry
Bihar has a rich tradition in leather craftsmanship. Setting up a leather manufacturing unit in Bihar would prove very profiting. Here in Bihar, you can manufacture leather shoes, bags, wallets and belts for local and export markets.
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5. Chemical Industry
Steadily growing, the chemical industry in Bihar is showing good potential. Entrepreneurs can set up a chemical manufacturing unit in Bihar producing industrial chemicals, fertilizers, or pharmaceutical ingredients. Such a lucrative opportunity is the high possibility of profits in this business with the increasing demand for chemicals in various sectors.
6. Plastic Industry
Plastic products are household names in every person’s daily life. The onset of a plastic products manufacturing enterprise could include the production of plastic bags and containers, bottles, and packaging materials: turns of fortune can be very smiling to you if the strategy is proper.
7. Paper Industry
The products of paper are gradually getting popular in Bihar due to a boom in education and a package sector. Paper manufacturing in Bihar would naturally be more beneficial with products such as notebooks, envelopes, and packing materials.
8. Electronics Industry
The electronic goods market is currently growing at a rapid pace in Bihar. One may consider venturing into an electronics manufacturing industry in Bihar that manufactures mobile phones, tablets, LED lights, or other gadgets. In this sector, there is enough room for growth on account of digital adoption.
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9. Solar Panel Manufacturing
Investments in renewable energy projects in Bihar can be huge. A game changer could be investing in a solar panel manufacturing business in Bihar. The sector offers growth opportunities in the long run, with the increasing government support for green energy.
10. Steel Industry
Steel is one of the industries which has an enormous potential because of the opening up of infrastructural development. Starting a steel manufacturing business in Bihar may involve producing rods, pipes, and construction materials.
11. Cement Industry
The real estate and construction sectors about increasing cement demand in Bihar. This increases the potential profit of cement manufacturing business in Bihar, with builders and contractors being the main customers.
12. Sanitaryware Industry
The demand for sanitary ware is increasing because of urbanization and improved living standards. Manufacturing sanitaryware in Bihar, for instance, is producing sinks, taps, and toilet accessories.
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13. Food Processing Industry
Bihar has a great culinary heritage. A food processing manufacturing business in the state can process pickles, snacks, dairy products, and traditional sweets. This industry has a very huge consumer base with high profitability.
14. Automobile Parts Manufacturing
The automobile industry is expanding in Bihar. An automobile parts manufacturing business in Bihar should include the production of components, such as brakes, engines, and accessories for vehicles.
15. Pharmaceutical Industry
With the growing healthcare sector in Bihar, demand for medicines and medical equipment is increasing, which can serve as a viable pharmaceutical manufacturing business in Bihar to manufacture generic medicines, syrups, and healthcare products.
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Conclusion
Starting a manufacturing business in Bihar is generally the right way to go if the entrepreneur is looking for profitable ventures. Thus, with the right strategy for investment, understanding, and market research, these are businesses that yield high profit margins. Starting from agro-based industries to even electronics, Bihar has something for every budding industry.
If you have been seeking for the most lucrative business ideas in Bihar, these industries have the ample ground on which to stake a claim for success. Make the proper research along with a full understanding of local demand before making that robust business plan to stamp a successful venture in Bihar.
