15 Innovative Business Ideas in India For 2020 And Beyond
India is a fast-paced developing nation with fresh business opportunities EVERY DAY. There is an immense potential for aspiring entrepreneurs, and those who are looking for a promising future in the business world. Over the last few years, the Indian business space has witnessed some great business ideas and a surge of investments.
The recent Niti Aayog study, concluded that India has become the world’s third-largest start-up base after the U.S. and China. With so many tech-enabled opportunities, it is becoming increasingly important to identify new and unique business ideas that are both profitable and capable of scaling. Looking at the current scenario, here are 15 innovative business ideas for 2020 and beyond.
1. Mobile Applications
With the advent of 4G technology, the use of smartphones has surged remarkably. Mobile Apps are everywhere today and even small businesses cannot ignore this lucrative market anymore. Developing mobile applications that integrate artificial intelligence, machine learning, and analytics, can potentially drive the Indian market forward. Moreover, it is projected that the mobile application market size in India would cross $350 billion by the year 2022.
2. E-commerce Store
The rise of e-commerce stores and online shopping portals in India is another booming business idea. Taking advantage of the growing market, businesses can start selling products both locally and globally.These platforms also offer highly advanced analytics and customer experience and can help businesses increase their customer base and improve customer engagement.
3. Delivery Services
With the advancement in technology, businesses in India have started transitioning from physical to digital platforms. This has resulted in an increased need for quick, efficient and reliable delivery services. This market is doing exceptionally well and presents great business opportunities for budding entrepreneurs. These services not just offer quick delivery but also help in reducing the loss of goods and customer dissatisfaction.
4. Digital Advertising
Digital Advertising is another profitable business idea in India. This sector is going through a rapid revolution and offers promising opportunities for businesses. Digital advertising help businesses reach their target audience quickly and effectively. With the help of modern tools and techniques, businesses can create stunning content and visuals to showcase their products and services.
5. Online Education
Providing online education is also a great business opportunity in India. With the digital transformation, businesses can leverage technology to create an interactive learning environment. Investing in this segment can benefit both students and businesses alike. It helps reduce the overall cost of learning and creates better educational opportunities for the students.
6. Food Delivery Services
The food delivery service has gained immense popularity in recent times. Businesses have started recognizing the potential of this industry and have started investing in it. There are several platforms like Zomato and Swiggy that help businesses to reach their customers easily. However, there are still a lot of untapped opportunities in this sector. Investing in it can provide great returns.
7. Online Grocery Delivery
This is another emerging business idea in India. The online grocery delivery market has witnessed phenomenal growth over the last few years. The convenience of ordering groceries online and getting them delivered to your doorsteps has made this business well-accepted in the country. Businesses can set up online stores or delivery systems and provide a seamless grocery delivery experience to their customers.
8. Online Consultancies
Online consultancies are another great business idea in India. People nowadays do not want to go through the hassle of consulting an offline expert. With the technology available, businesses can offer easy and convenient consulting services to their customers. Businesses can also leverage the power of AI to provide personalized advice to their customers.
9. Drone Technology
Drones are one of the most revolutionary technologies in the recent times. Its applications are vast and businesses can invest in this domain to reap its benefits. Businesses can use drones for surveillance and security purposes as well as transporting goods and services in remote areas. Drones offer great potential for businesses and are also considered to be cost-effective.
10. AI-Based Chatbots
Chatbot technology is growing in leaps and bounds.
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