Entrepreneurs and people looking to invest in businesses have never had it better than they do today. Along with online platforms that provide higher visibility to startups and SMEs, consumers are displaying more acceptance and appreciation for products and services offered by small or medium businesses as well. So here we present some of the fast-growing businesses.
If you’re planning to jump on this bandwagon and grow your money with short-term investments in a business, now is the time. The first step is to decide which industry you should invest in, and we’ve put together a list of the fastest growing sectors to help you with this decision.
Here are the top 5 industries currently growing at a quick pace in India:
Food – With continuously higher annual contributions to international food trade, this is one of the fast-growing businesses, this industry is definitely a good bet for investors and businesspeople alike. Restaurants and food delivery businesses throughout the nation are seeing rapid growth as well. Consumers in the country are also spending far more on specialty gourmet and healthy foods than they did in the past, which makes food retail an attractive option. This sector offers almost unlimited potential for high profits and ROI, particularly in segments such as food processing, packaging and value addition.
Tourism – India offers an endless variety of attractions for both foreign and domestic tourists, from historic monuments to lush natural reserves, quiet hill stations to bustling markets, and more. In recent years, the tourism sector has picked up tremendously and is one among the fast-growing businesses, especially with a rise in disposable income among young professionals. Rather than heading to international locations for a vacation, Indians are spending more time and money exploring different parts of the country. This makes the tourism and hospitality industry a great choice for investors.
Healthcare – Along with an increase in the average life expectancy and income levels, growing awareness about health and wellness has contributed to the rapid growth of India’s healthcare sector has brought it in the category of fast-growing businesses. In addition to hospitals, clinics, and healthcare centers, there has been a rise in segments such as medicines, alternative therapy, health insurance, medical devices and infrastructure, etc. Don’t forget, India is also a leading medical tourism destination, with people from around the world heading here for dental treatment, cosmetic surgery and other healthcare services.
Retail – The retail sector in our country has seen immense changes and growth in the last few years, especially within the e-commerce and online shopping space. With the world’s second-largest middle class that also has a high disposable income, competitive pricing, and rapid digitalization of the retail space, India currently ranks 5th on the list of global retail destinations. From small-scale startups to well-established giants, the retail industry offers something for every investor. Would-be entrepreneurs are also practically spoilt for choice in this industry! So if you are looking for investment in fast-growing businesses retail is one of them.
Personal Care – The range of products and services offered by India’s personal care industry has undergone tremendous changes over the years. Today, almost everyone is willing to spend more money on a variety of organic, handmade and natural alternatives to daily use items. These include soaps, shampoos, makeup, hair styling products and intimate hygiene solutions. Selling through online portals opens up more opportunities for small business owners, and there’s plenty of scope in wedding planning, tattoos and piercings, spas, massage therapy, and more.
If you’re seeking funds to launch your dream, grow your existing business or take advantage of a time-bound investment opportunity with high returns, consider using a personal loan. An unsecured loan or personal line of credit can be repaid over time, which makes sense if returns from your investment will be higher than the loan interest!