| It is high time out entrepreneurs realize the | | | | 2-5 per cent of per capita consumption in developed |
| importance of being choosy in project identification. | | | | countries like the US. Use of plastics in India, both in |
| Till recently, we in India kept on exploring the | | | | Industries and households, is going to pick up in |
| possibilities of manufacturing almost everything, right | | | | coming years. In spite of ill effects of use of plastics, |
| from pins to planes and screws to sub-marines. Just | | | | it is rather impossible to manage without it. The |
| as companies and individuals carry out SWOT analysis | | | | Indian plastic market is presently experiencing a |
| for identifying business opportunities for our | | | | growth rate of more than 10 per cent per annum. It |
| entrepreneurs. The completing demands for our | | | | provides scope for setting up small-scale plastic |
| limited and meager resources are many and unless | | | | processing enterprises for manufacture of variety of |
| we apply a degree of selectivity in our approach in | | | | plastic products. |
| resource allocation, we will continue to be a nation of | | | | Toys |
| foundation stones. Given below are a few areas | | | | Toy manufacturing (especially stuffed toys) is a low |
| where we can think of concentrating more. | | | | technology based less capital intensive and highly |
| Tourism and Hospitality | | | | labor intensive industry. Superstores abroad usually |
| India is a country of many countries. Our diverse | | | | source toys from China, Korea and Hong Kong. |
| culture, religions, languages, rich heritage and vast | | | | Consumption of toys in India and abroad is increasing. |
| geographical area make the country a place of tourist | | | | In India, the toy market grew 10-12 per cent per |
| attraction. Hills and beaches, temples and palaces, the | | | | annum during the late 1990s. It is estimated to touch |
| deserts and the jungles are all these. There are not | | | | an annual growth rate of 15 per cent soon. India has |
| many countries in the world where you can surf the | | | | potential to manufacture cost effective toys largely |
| sand and the sea. Privatization of airports and aviation | | | | for Indian market and also for world toy market. If |
| sector could further give boost to tourism industry. | | | | China and Korea can do it why cannot we? Our |
| Tourism should therefore receive topmost priority. | | | | entrepreneurs need to consider toy manufacturing as |
| Auto Ancillaries | | | | a rewarding business. |
| India may not be the best car-manufacturing base, | | | | Floriculture |
| but we can certainly be the best ancillaries to the | | | | Indian flowers are becoming increasingly popular in |
| automobile industry world over. Our entrepreneurs | | | | the world market. Flower market, especially exports, |
| are capable to developing global scale auto ancillaries. | | | | is becoming favorable to Indian florists. |
| By all means, we should also continue car | | | | Improvements in infrastructure and transport facilities |
| manufacturing, but we must do it at a scale and | | | | would further brighten the prospects of Indian |
| quality at which the world community takes us | | | | flowers abroad. At the same time, florists need to |
| seriously. | | | | concentrate on domestic flower market as well. |
| Two Wheelers | | | | Health-care Sector |
| As a nation we have excelled in production of two | | | | India's population to hospital bed ratio is a very poor |
| wheelers - be they cycles, scooters or motorcycles. | | | | compared to World Health Organization's standards. |
| We have the technology, the skills, and most of all, | | | | (India's population to hospital bed ratio is 1300: 1 |
| the critical mass to affect a breakthrough. We should | | | | against the WHO recommended ratio of 250: 1). With |
| aim at capturing the world's two-wheelers markets. | | | | the funds receding in government kitty, private |
| Garments | | | | sector will be required to play major role in the |
| India has the potential of becoming a leading supplier | | | | health-care sector. Health-care, both in corporatized |
| of garments, apparels, silk, hosiery and textiles. Indian | | | | sector (Organized sector) and also in informal sector, |
| textiles are well known world over. Our Ludhiana and | | | | has potential for high growth in India. |
| Tirupur entrepreneurs have done proud to the | | | | Biotechnology |
| country in the area of woolen and cotton industry. | | | | It is believed that early twenty-first century will |
| By understanding customer needs through extensive | | | | belong to biotechnology and software in India. In |
| and systematic market research we can capture | | | | India biotechnology has just started picking up. |
| more markets world over. | | | | Application of biotechnology especially in the areas of |
| Software | | | | agriculture, horticulture, sericulture, poultry, dairy and |
| India has already made a strong dent in world's | | | | production of fruit and vegetables will pay an |
| software market. For us the most natural thing is to | | | | important role in future. We should go for commercial |
| be number one software and consultancy services | | | | application of biotechnology in various sectors of |
| suppliers. Our country has the right resources in the | | | | economy wherever it is found feasible. Biotechnology |
| form of vast population of educated youth. Other | | | | would therefore throw open many opportunities for |
| developed and developing countries with vast | | | | entrepreneurs in future. |
| resources can perhaps continue making advances in | | | | Information Technology (IT) Enabled Services |
| manufacturing of computers, computer hardware and | | | | Business to Business Portal Solution (B2BPS) Services |
| computer chips year after year. Software exports | | | | would be needed in a big way to address the |
| from India are growing more than 50 per cent per | | | | emerging needs of IT enabled services sector. IT |
| annum. | | | | enabled services is a US$ 180 billion business. The |
| Light and Medium Engineering Industry | | | | sector includes services like GIS digitization, medical |
| Many countries of the world are far ahead of India in | | | | and legal transcription, medical billion, and insurance |
| manufacturing aircraft, ship and products of similar | | | | claim processing and archival and indexing of records. |
| nature. Unfortunately, we in India try to manufacture | | | | All these, and many more services, could be provided |
| everything and finally end up doing nothing well. Our | | | | by Indian entrepreneurs. The pool of smaller service |
| strength lies in the light and medium engineering | | | | providers from India can meet the needs of |
| industry. We are in a position to provide a leading | | | | outsourcing from US, and other developed countries. |
| edge in this industry. India also has the capability of | | | | The InfoTech industry is the fastest growing sector |
| becoming world's best foundry products maker. We | | | | in India. Indian IT industry is of the size of US $5 |
| should concentrate more areas where we have an | | | | billion at present and it is slated to grow to 20 times |
| edge rather than thinly spreading our limited | | | | its current size of $100 billion by 2010. Prof. Michael |
| resources and expertize in areas like manufacture of | | | | Dertouzos, Director, Computer Science Laboratory at |
| aircraft and flexible machine systems. | | | | MIT (USA), visited India in February 2000 in |
| Trading/Supplies | | | | connection with IT Asia 2000 conference. He was |
| Among India's vast population there are communities | | | | highly impressed by number of English literate people |
| like Marwaris, Punjabis, Gujaratis, Tamilians, etc., with | | | | in India and spread of IT enabled services. He said |
| acumen for trading and acting as suppliers. It is, | | | | that India can funnel a majority of new $3 trillion |
| therefore, logical on part of such communities to | | | | business opportunity being generated in the area of |
| become global players in trading and operate at | | | | IT-enabled services - outsourcing basic white collar |
| international levels. By doing so we will be doing | | | | office work - by harnessing its 50 million English |
| something that we are good at. | | | | literate populations. Mr. Dertouzos feels that after call |
| Education and Training | | | | centres and medical transcription, a new business |
| India has some of the world's best universities and | | | | opportunity of outsourcing office work - accounting, |
| educational institutes, i.e., JNU, IIMS, IITS, IISc, etc. | | | | legal, finance, marketing, claim forms - to developing |
| The cost of education and training in India is nominal | | | | countries is gaining popularity and Indian stands a |
| in comparison to developed countries. There is vast | | | | good chance, right away, to grab a major share of |
| reservoir of talented people in the country. By pooling | | | | this business. "Office work is estimated to be around |
| resources and networking with resource organizations | | | | $3 trillion annually and can fetch a decent $20,000 per |
| we can create education and training facilities not | | | | annum to individuals in this business. |
| only for Indians but also for scholars from abroad. | | | | Education Portals |
| Indian educational institutions, both government and | | | | Application of information technology to education |
| privately managed, have the capacity and expertise | | | | sector has started revolutionizing the process of |
| to offer affordable education to persons from other | | | | education in the country. MNCs and Indian Internet |
| countries. | | | | companies have started setting up education portals |
| Poultry | | | | in the country. In days to come professional |
| India holds lot of potential for developing its poultry | | | | education like management, medicines, engineering, |
| and poultry - based industries. A vast population and | | | | law etc., would be taught by making extensive use |
| export potential make this industry a lucrative activity | | | | of internet. Under the new innovative and emerging |
| for those who want to be in poultry allied industry. | | | | concept students would study and learn educational |
| Food Processing | | | | courses both at school and college level online, i.e., |
| India has emerged as one of the topmost food | | | | through internet. Some companies have already set |
| producing countries in the world. Indian climate is | | | | up their web-sites, which offer various courses for |
| suitable for growing vast varieties of food grain. At | | | | school level students. IT-friendly potential |
| present, most of the food grain is sold in raw form. | | | | entrepreneurs can look forward to getting franchise |
| In food habits the world over is undergoing change. | | | | of major players in providing IT based educational |
| As a matter of convenience, people, especially | | | | courses. |
| youngsters, prefer fast food or ready to eat food. | | | | Organized Retailing |
| Indian food is well known world over. We need to | | | | As per industry estimates, total consumer spending in |
| exploit this potential by processing our food grains. | | | | India is of the order of Rs.3, 80,000 crore. Current |
| Processed food will have good market in India as well | | | | volume of organized retailing in India is about Rs.5, |
| as abroad. Food processing would also help us earn | | | | 000 crore. The organized retail industry business in |
| must-needed foreign exchange. | | | | India is expected to grow between 50-60 per cent |
| Fruit and Vegetable Processing | | | | each year during the next few years. Organized retail |
| Fruit and vegetables are grown in plenty in India. The | | | | industry is likely to achieve sales volume of Rs.30,000 |
| country has emerged as a leading producer of fruit | | | | crore by 2005 and would move into smaller cities in |
| and vegetables. Because of poor transportation | | | | India, given that there is beginning to be some comb |
| facilities, inefficient infrastructure, bumper crops and | | | | lance of competition among organized retailers in the |
| lack of marketing facilities, many a time, lots of | | | | big cities. Retailing as a business, till recently, was |
| vegetables and fruit simply go waste. We need to | | | | confined to small-scale shopkeepers but now even |
| create fruit and vegetable processing facilities all over | | | | large business houses have started considering it a |
| the country so as to harness the potential for their | | | | potential opportunity. Venture capital and bank |
| production. Fruit and vegetable processing offers | | | | finance is also now available for prospective retailers. |
| potential for high value addition and potential | | | | Experts in retail industry feel that retail business is |
| entrepreneurs can earn a lot from such products. By | | | | truly globalization, and common patterns are |
| processing of fruit and vegetables, our producers will | | | | emerging. Electronic retailing is yet another emerging |
| get proper price for their products, entrepreneurs will | | | | area. Electronic retailing is happening more in business |
| have good business opportunities, masses will get | | | | to business space than in the business to consumer |
| employment and export of processed fruit and | | | | space. |
| vegetables will increase. While processing fruit and | | | | Processing, Refrigeration and Transportation of Food, |
| vegetables, our entrepreneurs need to take all | | | | Vegetables and Fruits |
| possible care so as to ensure quality and standard of | | | | India has long suffered the lack of a comprehensive |
| their products. | | | | cold chain. A large Purdon of agricultural and other |
| Manufacture of Business Attires | | | | products produced in the country perish due to the |
| Manufacture of business attires, especially for Indian | | | | lack of a serviceable refrigerated storage and |
| women, is going to be a rewarding business in days | | | | distribution network. A detailed study conducted by |
| to come. Women's participation in white-collar jobs is | | | | the government on the agricultural and food industry |
| on the increase. With the influx of multinational | | | | has revealed that one-third of the products are |
| companies in India, workplace outlook and | | | | ruined due to the lack of adequate storage and |
| environment are improving. Well managed companies, | | | | preservation facilities. Meat, poultry, fresh produce |
| whether MNCs or of Indian origin, expect their | | | | and dairy can only be distributed within limited |
| employees to look smart and dress well. Some of | | | | geography and need to be consumed in a short |
| the organizations also prescribe a dress code. | | | | period. Also, sensitive medical requisition like vaccine |
| Increasing presence of women in various workplaces | | | | and pharmaceuticals are suffering due to the lack of |
| has given a boost to business attire market. Till | | | | refrigerated distribution. This state of affairs needs to |
| recently, business attires, especially for women used | | | | be changed. Food and other precious resources in our |
| to originate from developed countries and women | | | | country must be preserved at all costs. The |
| used to pay hefty price for such dresses. The | | | | refrigeration industry would be required to come |
| growing business attire market offers good business | | | | through providing a wide range of industrial and |
| opportunities in this sector. Our potential | | | | commercial refrigeration services that can serve the |
| entrepreneurs can think of getting into this business | | | | entire gamut of cold storage and refrigerated |
| both for Indian and overseas clients. | | | | transport to retail display and preservation units. |
| Corporate Gifting | | | | Cruising Business |
| Corporate gifting has picked up in India in the recent | | | | The cruising business is gradually picking up in India. |
| years. Indian companies and business organizations | | | | The Rich and the Famous has led to immense |
| spend crores of rupees on giving gifts to their | | | | popularity of cruises in last four years (1996-1999) |
| employees, shareholders and business associates on | | | | with numbers increasing to 15,000 in 1999 from |
| occasions like Diwali, New Year and Annual General | | | | practically zero in 1996. The business of cruising |
| Meetings. As per rough estimates, corporate India | | | | represents enjoying the luxury of dining in fine |
| spends approximately Rs.1000 crore every year on | | | | restaurants, casinos, excursions to golden beaches |
| corporate gifting and the culture is on the rise. | | | | and exotic islands. The perception of Indians about |
| Potential entrepreneurs, especially those good in | | | | cruising business is changing. People no more consider |
| public relations, can easily get into such business. | | | | cruising as meant for elderly and retirees alone. The |
| Other associated businesses in this line could be | | | | concept of a cruise holiday is becoming immensely |
| manufacture of greeting cards (Diwali, New Year, | | | | popular in India. The number of Indians holidaying on |
| Christmas, Valentine day, Birthday, etc.) for various | | | | cruising trips in increasing due to enhanced awareness |
| occasions. | | | | through better marketing and advertising by our |
| Herbal Medicines and Skincare Products | | | | operators, fatter pay packets, and a growing |
| India has the distinction of growing vast variety of | | | | tendency to splurge. |
| herbs. Indian population of more than a billion ensures | | | | To site an example of what kind of services cruises |
| a sufficiently large market for herbal medicines and | | | | offer, Mr. Gautam Chadha, Chief Executive Officer of |
| skincare products. People, world over, in general and | | | | Discover the World Marketing (this company owns |
| in developed countries, in particular, are becoming | | | | two famous cruise lines, Royal Caribbean Cruises and |
| increasingly aware of after-effects of allopathic | | | | Celebrity Cruises) said P "You will never, ever be |
| medicines and synthetic skincare products. Women, in | | | | bored. You simply find a corner on ship's library, relax |
| particular, are slowly switching over from synthetic | | | | in a deck chair or lounge on private veranda. For fun |
| skincare products to herbal-based products. India has | | | | loving people, ships organize various activities such as |
| an established tradition of growing and using variety | | | | flower arrangements, art auctions, cabarets, casino - |
| of herbs. We need to go in for commercialization of | | | | Las Vegas style, guest singers, live bands, and the |
| herbal-based medicines and skincare products in a big | | | | like". He expects a growth rate of 25-30 per cent per |
| way. | | | | annum in cruising business. At present, India does not |
| Mineral Water | | | | represent even a fraction of the total world market |
| Even though mineral water manufacturing was | | | | for cruises. There are more than four million |
| started in India during the 1960s, but the market did | | | | passengers onboard various cruise lines worldwide |
| not pick up till 1985. During late 1980s and 1990s | | | | every year, he added. Recently developments in |
| mineral water market in India increased by an | | | | cruising business clearly indicate good opportunities in |
| impressive rate of 30-40 per cent annum. Market for | | | | this sector. |
| mineral water in India is spreading very fast. People | | | | Courier Services |
| are becoming health conscious. We are going to | | | | E-commerce related business is poised for |
| enter in an era when potable bottled water would | | | | exponential growth in the early 21st century. |
| find place in almost all general stores and it will | | | | Expansion of E-commerce in India and world over has |
| become an unavoidable expenditure for people at | | | | given a boost to courier business. Recent increase in |
| large. Statistics reveal that size of Indian Mineral | | | | share prices of leading courier companies (1400 per |
| water market during 1999 was of the order of | | | | cent increase in share price of Elbee Services in just |
| approximately Rs.800 crore. Many small-scale | | | | six months and 400 per cent increase in share price |
| entrepreneurs can find business opportunities in this | | | | of Blue Dart) is a clear indication of growth potential |
| fast growing market. | | | | of courier related businesses. The logic is very simple. |
| Paints, Enamels and Varnishes | | | | The service industry is expected to grow in leaps |
| India is presently experiencing an automobile | | | | and bounds in the near future for the simple reason |
| revolution. Standard of living of the sizeable Indian | | | | that physical delivery of goods will be primarily |
| middle class is also improving at a rapid pace. Both | | | | handled by courier services companies. Corporate in |
| these trends indicate an increasing market for paints, | | | | Net business will not be in a position to support a |
| enamels and varnishing. Industrial and household use | | | | massive network of distribution, whose job in future |
| of these products is quite promising and much better | | | | will be reduced to just delivering the goods |
| than many other products. Manufacture of these | | | | manufactured from the manufacturer's doorsteps to |
| products in small-scale sector should therefore need | | | | the consumers. Besides maintaining a large network |
| to be considered as a viable business proposition. | | | | of distributors is expensive when even the big wigs |
| Organic Farming | | | | in the industry are cutting costs. Due to these |
| The concept of organic farming is of very recent | | | | difficulties courier companies with an elaborate |
| origin in India, Many developed countries grow food | | | | network would have enough business to transact. |
| organically. Health conscious persons prefer organically | | | | Their network is going to be particularly beneficial to |
| grown food. In India also, people are becoming | | | | Fast Moving Consumer Goods (FMCG) companies |
| increasingly health conscious. They are well aware of | | | | who, at present, depend on a network of sales |
| after effects of food and vegetables, which are | | | | persons to make their product reach the retail levels. |
| grown by making excessive use of chemical | | | | If recent trends serve any indication, courier services, |
| fertilizers, pesticides and insecticides. Some companies | | | | both in organized and unorganized sectors ensure a |
| and individual farmers have started organic farming in | | | | promising future. |
| India. To ensure better health for our people we | | | | Summer Solution Related Business Opportunities |
| need to promote organic farming in a big way. Our | | | | Summer and power cuts are synonymous in India. |
| potential entrepreneurs with interest in agricultural | | | | Gone are the days when standby solutions to power |
| related activities would perhaps find good business | | | | cuts in the form of 'Hat and Pankha', 'Khas ki Chik', |
| opportunities in this area. | | | | 'Surahi', etc. used to be kept handy. With the advent |
| Music and Entertainment | | | | of technology solutions to frequent power cuts are |
| Music and entertainment are required the world over. | | | | immense. And for the times when power is regular |
| With a large number of channels in operation and a | | | | life can be bliss with a variety of cooling devices in |
| revolution in satellite technology the music and | | | | the form of high tech air conditioner and coolers. |
| entertainment industry has thrown open numerous | | | | With latest state of the art technology being imbibed |
| opportunities. Potential entrepreneurs should grab | | | | in these gadgets, healthy air and healthy food are a |
| opportunities in the fast developing music and | | | | de rigueur in today's AC and refrigerators. Silent |
| entertainment industry. | | | | invertors and one-pull generators are another lot |
| Writing Instruments | | | | becoming an essential buys for almost every |
| Literacy rate in India is slowly improving. Some of the | | | | household. Depending on the demand a variety of |
| conventional writing and learning materials are fast | | | | invertors and generators can be manufactured by |
| becoming obsolete. Also because of economies of | | | | small-scale entrepreneurs. Servo voltage stabilizers |
| scale and cheap labor availability, we as a nation are | | | | online UPS, line interactive UPS, automatic voltage |
| in a position to manufacture writing instruments at | | | | stabilizers, constant voltage transformers, manual |
| affordable prices. Now with access to better | | | | voltage regulators, isolation transformers, high voltage |
| technologies and huge Indian and overseas markets, | | | | regulators, high voltage break down testers, |
| our entrepreneurs have an opportunity to exploit this | | | | electronic air conditioner protectors, spike |
| market. | | | | suppressors and busters are the other products |
| Plastics | | | | related to summer solutions which can easily be |
| Per capita consumption of plastics in India is hardly | | | | manufactured in small scale units. |