Top 10 Manufacturing Business Ideas in 2019

manufacturing business ideas

The Manufacturing Industry in India accounts for about 18% of total GDP employing 12% of India’s population directly. Among the humongous manufacturing sector, SME and MSME account for 90% of the total industry activity and with new policies like The National Manufacturing Policy, the industry is looking to contribute more than 25% to GDP and employing over 100 million workers. Some of the most profitable sectors among them are

1. Agrochemicals

India is ranked as the fourth-highest producer of Agrochemicals in the world. Agriculture being the largest employer and known as the primary sector of the economy of India, it has created an operational sector of the never-ending need for agrochemicals making it one of the highly profitable manufacturing industries. The firms vary from large scale to small scale manufacturing firms that can be and are set up in villages. It is projected to reach a market of US 269.7 billion by the year 2022.

2. Automobile/Auto Components 

India is predicted to be the third-largest manufacturer of automobiles in the world by 2025. In a survey in April 2018, just in one metropolitan city of the lot in India; Bangalore showed the results of 4,000 new registered vehicles added to the road every single day. This obviously boosts the Auto Component industry which varies from large scale to small scale manufacturing, the exports of components in India stood at INR10.90 billion in 2016-2017. In the Indian export industry, Automobile ranks third with a valuation of US $14.5billion.

3. Pharmaceutical Industry 

India is the largest provider of generic drugs globally. The domestic pharmaceutical sector accounts for 3.1-3.6 % of the global pharmaceutical industry in value terms and 10 percent in volume terms. In a 2017 report, there were 10,563 pharmaceutical manufacturing firms (inclusive of large- and small-scale pharmaceuticals) under the ‘Directory of Pharmaceuticals Manufacturing Units in India’.

4. Textile Industry

Starting from the colonization till date India is known for its cotton and use of cotton in textile. As per the Ministry of Textiles, the Indian textile industry contributed about 14% to industrial production, 4% to the country’s GDP, and 13% to the country’s export earnings in 2017. India is appeared to be the largest producer of cotton and the second-largest exporter after China. The industry employs about 40 million workers directly and 60 million indirectly.

5. Food and Beverage

The F&B industry stands fifth largest in the manufacturing sector. It was ranked 13th largest receiver of Foreign Direct Investment in 2017. By market size, India stands fourth in the world for the overall F&B industry making a revenue of $200 billion. India is the largest producer of pulses, milk, and the second biggest of rice, wheat, fruits, and vegetables. The category constitutes about 40% of its Consumer Package Goods.

6. Gems and Jewellery

The Gems and Jewellery sector play a noteworthy role in the Indian economy as it contributes to about 7% of the country’s GDP and ranks as India’s major exporter constitution 15% of total exports resulting in $42.6 billion.

7. Packaging Industry

Ranked as the fifth largest sector of India’s economy with $32 million in 2015, it stands as a salient sector for most of the other segments of the industry. By the increased standard of living the stigma of packed goods to have higher value is ingrained in the minds of the consumer and this has resulted in the growth of the packaging industry. This industry is backed by various other industries without relying on just one sector and so will forever bloom even with the changes from plastic to paper and cloth.

8. Glass Manufacturing

The per capita consumption of glass in India is 1.8Kg. With applications in large areas such as architecture and construction, most of the buildings from malls to office buildings and apartments use glass as well as fibreglass as walls and doors as decor. India’s glass export stood at $639 million which has shown an immense growth from $225 million in 2012.

9. Rubber and Rubber Products

India is the World’s largest producer and the third-largest consumer of natural rubber which produces more than 35000 kinds of rubber products. It is used for domestic as well as for international trade whose export was recorded as $5 Billion per annum.

10. Metal Sector

Raising its demand in automobile, capital goods and infrastructure, Indian metal players remain profitable in their sector. India is ranked as the third-largest steel producer with a production of 101.4 million tonnes of crude steel. GOI has allowed 100% investment in the sector along with exploration in the metal and mining sector which would boost the sector.

SolutionBuggy has been at the forefront to help entrepreneurs set up new industries. About 43% of the projects posted on our platform over the last 2 years have been for new industry setup with domains ranging from pharmaceuticals, agribusiness, aerospace and a host of others. New business ideas need a structured consulting approach and also a quick response to various market scenarios and this is possible due to the immense experience of the consultants at SolutionBuggy. We have also seen scenarios where the entrepreneur only has the capital and right from the market research to industry setup and finally BD and marketing have been done through consultants at SolutionBuggy.

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