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Best startup ideas for 2020

Start small go big – top business ideas in India with excellent growth potential

Many small business ideas in India hold excellent growth potential and are incredibly profitable. Many give up o their business dreams just because of the thought of what people will say, but remember if entrepreneurs like Mark Zuckerberg and Elon Musk through of this while starting their businesses, they would never be where they are today. 
Start small, go big. You can start a business from any of these small business ideas India and add innovative methods and business strategies at a later stage. Some of the most profitable small business ideas India is fruit juice kiosk, garment tailor, event organizing, photography, street-side bookstall, and customized jewelry.

Best startup ideas for 2020

With excellent prospects in both the Indian and international markets, setting up the best startup ideas in these sectors is sure to reap good results in 2020. The Best startup ideas expanded by around 7.7 percent in 2018 and added to India’s GDP by about 16 percent. This further shows that India is becoming the world’s third-largest economy by 2030. The Government plans to increase the manufacturing sector’s GDP to 25 percent by 2022 through multiple economic changes and allocations to the budget of the best business to start in India.

1. Furniture-making Business the best startup ideas

Demand for multi-purpose furniture is one of the best startup ideas, and by 2022, the market expected to grow to $27 billion. It results in a growing number of urban dwellers, an increase in purchasing ability, and a high potential to invest. The best business to start in India is as a furniture designer, a corpus of about Rs.30 lakh would give you a head start. The recruitment of a team of efficient furniture designers and a market research team will go a long way in helping you produce the right furniture that distinguishes your best startup ideas from your competition.

Types of Furniture to be produced for business in India:

  • Sofas
  • Beds
  • Dining tables
  • Office furniture

2. Leather Goods business in India

The manufacturing of leather products is one of India’s best startup ideas. With the Indian leather industry standing at $17.85 billion, it’s easy to see how you can profit from developing a leather goods company. Over the next five years, the domestic leather industry projected to double, and India accounts for 12.93 percent of leather demand worldwide. This will improve your prospects of establishing the best startup ideas of leather footwear or clothing companies to export your products. 

Basic requirements of the most profitable business in India:

  • Significant investment
  • Advanced equipment
  • Raw materials stockpile 
  • Warehouse to store finished items

3. Organic and Healthy Food small scale business ideas

In 2015-2016 India manufactured about 1.35 million metric tons of certified organic products. 

This included:

  • Sugarcane varieties
  • Oilseeds
  • Cereals 
  • Millets
  • Corn
  • Peas
  • Medicinal plants
  • Tea
  • Fruits
  • Herbs
  • Dried fruits
  • Berries
  • Coffee
Awareness about healthy food, as well as the agrarian community and environment in India, makes this a substantial industry in which to invest. According to projections, the organic food industry will expand by 25 percent – 30 percent by 2020, giving you even more incentive to explore the best business to start in India.

4. Best startup ideas of Garment Embellishment Business

The textile and apparel sector contributes 4 percent to India’s GDP and accounts for 15 percent of India’s export earnings. Moreover, due to its supply chain for garment production, India enjoys an advantage over the other manufacturing countries from the processing of natural fibers.

Some of these natural fibers for garment embellishments are:

  • Cotton
  • Cloth
  • Apparel
The growing demand for ‘Made in India’ clothing, which represents India’s heritage, opens up opportunities for your fabric embellishment business. One option is to set up a unit staffed with skilled embroiderers and artists from Zardozi. Renting a small storage or workshop room to set up your small scale business ideas will help you start the most profitable business in India.

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