1) Agriculture
Agriculture is one of the leading industries in India, accounting for 18% of the nation's GDP. The industry employs more than half a million people and contributes to over 24% of rural household incomes. It has been historically important as well as it was one of the earliest industries to develop in the country, with about 60-65% of Indians depending on agriculture for their livelihoods.
India is the world's second largest producer and consumer of rice, wheat and sugarcane.
2) Food processing
India has a thriving food processing industry with a lot of potential for growth. The country is home to the largest vegetarian market in the world and also has an increasing number of people following a vegan diet. With over 600 million vegetarians and around 180 million vegans, that makes for a lot of food processing opportunities.
3) IT and software
India's IT and software industries are among the world's fastest growing. This sector is a major contributor to the country's GDP, creating billions of dollars of revenues for companies likelikelikelike Infosys, Tata Consultancy Services and Wipro.
Finance, banking and insurance (five sentences)
4) Biotechnology
Biotechnology is one of the fastest growing industries in India. There are a variety of biotechnology companies that invest heavily in research and development. Some sectors that are seeing an increase in biotechnology include medical diagnostics, medical devices and pharmaceuticals.
5) Textiles
Textiles is the third largest industry in the world, with a global turnover of $400 billion. It is also one of the largest employment sectors, employing over 800 million people worldwide and accounting for 18% of all manufacturing jobs. In India, it employs over 30 million people and accounts for 40% of all textile production globally.
6) Automobiles
With a population of 1.25 billion people and the second largest car market in the world, it is no surprise that the Indian automobile industry is one of the country's most successful. Although there are many different types of vehicles that dominate this industry, including cars, scooters, motorcycles, and trucks; passenger vehicles are by far the most popular.
8) Banking
Banking is one of the largest industries in India, and there are three types of banks. Public sector banks (PSBs), private sector banks, and foreign banks. PSBs offer commercial banking services to people, corporations and public sector organizations. Private sector banks provide commercial banking services to individuals and companies. Foreign banks are only allowed to provide personal banking services to individuals such as checking accounts, savings accounts and mortgages.
In 2017, the top ten most profitable PSBs were:
Punjab National Bank
Bank of Baroda
State Bank of Mysore
7) Pharmaceuticals
Pharmaceuticals is one of the most profitable industries in India. In 2016, the industry made up of companies like Sun Pharmaceuticals and Dr Reddy's Laboratories reported revenues of INR 538 billion. The sector is expected to grow at a CAGR of 11.5% between 2016 and 2023 to reach INR 807 billion by 2023. Oil & Gas: With crude oil prices plummeting below $30 per barrel as of December 2016, it was expected that the energy sector would suffer. But surprisingly this was not the case. For instance, Reliance Industries Limited (owner of Jio) managed to post profits for six consecutive quarters starting from Q4 2015-16 until Q3 2017-18.
9) Media and entertainment
Media and entertainment is one of the fastest growing industries in India. With an expanding middle class and increased demand for new content, media and entertainment has become a lucrative industry. Here are the top 10 most profitable industries:
1) Media and entertainment
10) Retail
Of the many different types of business that are available, retail is one of the more common. Retail, according to Investopedia, is the trade or selling of goods through stores. This includes department stores and specialty shops where customers can find a wide array of products. In fact, there are thousands of different brands and products to choose from. The investment needed for this type of business will vary depending on whether you want to open a storefront or an online store.
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