INDIAN MANUFACTURING INDUSTRY SMALL BUSINESS IDEAS
INDIAN MANUFACTURING INDUSTRY SMALL BUSINESS IDEAS
Infrastructure manufacturing, an industry which has been a significant growth sector for the Indian economy inclusive of diverse companies including those engaged in manufacturing of machinery and equipment, electrical and metal products, cement, building and construction material, rubber and plastic products and automation technology products.
Well, while this seems to remain an important industry, hence, they are few key sector focus areas one should keep in mind. First, being the digitalising of vertical and horizontal value chains from product development and purchasing to manufacturing, logistics and services. Secondly, while one focuses on new product development, manufacturers, the priority is shifting to product and service offering from earlier product only.
Thirdly, there are constant efforts on forming multi-national partnerships, alliances and joint ventures to secure FDI, along with benefitting from advanced technologies, and improve productivity through factory automation. Following this, the domestic market is also focused on as the Indian manufacturers are also looking to gain a foothold in the global market by increasing sales in existing markets and by identifying new geographies.
Here are some products which have profitable manufacturing:
- Herbal Hair Oil: Herbal, being a high demand product, herbal hair oils are some of the most demanded products out there in the market. But among a competition of most brands marketing their brands to hike sales with promises like near miracle cures for problems such as hair loss, hair fall and healthy hair available in the market, one must not confuse the consumers and get into the business with a truly effective recipe. If one possesses the traditional recipe that prevents or reduces hair loss and greying, you can enter this business.
- Papad& Sago Fritters: Out of all the Indian snacks or side dishes that complement the meals, the papad and sago (sabudana) fritters are in demand all year round and these easy to prepare and less manpower requiring manufactured items. To set up this manufacturing business, one needs proper recipes and basic equipment that includes a gas stove, utensils and plastic sheets for drying. Followed by the basic ingredients such as flour, sago and spices, food-grade plastic wrappers and a sealing machine.
- Cottage butter, paneer and ghee: Indians focus on the dairy industry has enough statistics to support its position. The industry for normal salted and unsalted butter runs in the country, while one product, cottage butter is usually ignored, it is butter derived from churning buttermilk with immense health benefits. Being a nation proud of its healthy natural bodies with desi ghee or clarified butter, homemade paneer, the great industry of the same is a profitable one. It is also what makes it, with milk- both from cow and buffalo in abundant supply, a profitable industry to start a small scale manufacturing business to produce cottage butter, paneer and ghee in.
- Cookies and biscuits: Well, the competition in this industry is immense and it is evident as soon as one enters the aisle of cookies and biscuits in the supermarket, that has everything from Indian wheat flour cookies and rusks to international brands like Oreos, despite that the small scale manufacturing business of cookies and biscuits is a lucrative one as people are always in search for newer tastes and varieties than those offered by large companies. Indeed the competition has affected the market of small business owners but it has also created a vacuum in the market for cookies and biscuits that are made with traditional recipes and offer a taste of yesteryears.
- Candles & wax products manufacturing: Candles, a necessity and a luxury, this item can be both. While with power failures rampant in several parts of India, candles are in great demand, and the sizes and shapes are also demanded nowadays depending on their use. AS mentioned earlier for power outages, the jumbo size candles are in demand, while the small candles used on birthday and normal size candles are also bought to be used for religious ceremonies and rituals. Having said that there is a huge market for other wax products for offering at churches and other religious shrines or for the decorative purpose also exists and this easy to manufacture an item with the ready market across the country makes a great small-scale industry idea.
- Candy and hard-boiled sugar confectionery: Well, the competition is strong here too, with the large manufacturers seeming to have relegated the candy and hard-boiled sugar confectionery market in India to the backseat leading to small scale manufacturers seeming to dominate this fairly unorganized market. What is required for this, the machinery to make candy and hard-boiled sugar confectionery readily available, easy to set up at any small premise and a large market for such candy and confectionery ingredients that include sugar, glucose syrup, approved food colours and flavours.