Be it a car, or a life partner – everyone wants to have the best, to possess the top things out there in the world. Unfortunately, not everyone is lucky to have the best life partner or business partner – but yeah, those who have the money can get the top car models or physical goods. The desire for the top and the best is universal. For example, when a new entrepreneur ventures into the business world, their quest is for the top business ideas to pursue, they want to hire the top talent, they want to have the highest paying customers, and so on… Maybe, you are already looking for top business ideas in 2024 to start in India. Do you? Here you go –
The top business ideas for you to start in 2024
The good news is that I’ve benchmarked & brainstormed to spot the top business ideas for you in this insight. You can explore & start any of these top business ideas in 2024 and pick one for you but the top trending business ideas need not necessarily be the top opportunity for you. Sorry, but that’s the tough news, and I had to say it aloud.
What do I mean?
I believe the top business idea for you is the one that best fits your personality, your mindset, your working style. Top business ideas for you are those that suits the geography you are planning to start out the business in, or the target markets you would expand to in future. It is a top business idea if you can easily find good talent who can execute the idea successfully. The people you are going to hire and work with in future are at times the most critical part of running businesses.
No, I am not saying that looking out for top business ideas is a bad approach. It is a good approach to benchmark what’s trending & hot. Unless you know what all business opportunities exist, how could you take an informed and smart decision? But do evaluate if a sexy business idea is sexy for you as well or not… yeah, now you get my point. Compatibility matters!
How to choose a right business idea?
My recommendation is – do proper research on top business ideas in a field of your interest, in a geography where you can start your business with zero to little struggle, and then doing a proper SWOT analysis on the feasibility of that idea i.e., the challenges, strength, & opportunities – finally based on your analysis, decide on pursuing one good business idea. And that’s the top business idea for you!
For example, if I was looking for business ideas then based on my interest in the EdTech industry in India, I would have googled something like “best business ideas in India in the education sector in 2024”, or “innovative business ideas in the education industry”, or simply “education business ideas in India”. You get the concept, right? Cool. Let’s jump to explore what’s hot in the top business ideas kitchen.
Top business ideas 2024
Anyways, here are a few trending top business ideas in India in 2024 – these are not from a specific industry or location in India. These top business opportunities are randomly picked based on the craze and considering where we are headed as a global economy.
Most of the listed opportunities from this insight can be started anywhere in India. Please explore these, and see if you find something interesting. If you feel, someone else might benefit from this – do share with that person/group.
1. E-bikes and cars – top environment-friendly business ideas to start in 2024
The biggest trend in the automotive industry is Electric vehicles in 2024. And this trend will continue in 2024-2030 at least. The technological advancements that are happening with driverless cars and flying mini-vehicles are like living the dream of science fiction stories in the 1990s. EVs are available in almost all the variants that ICE vehicles are available in. You can get into assembling electric cars, auto-rikshaws, buses, trucks, mopeds, or of course E-bikes. EVs have an upper hand over internal combustion vehicles (ICE vehicles) as these are environment-friendly. Go for E-bike assembling, retail, maintenance, insurance, and other EV-related top business ideas because this is the future!
2. EdTech business ideas to start in 2024
This is one of those top business ideas which I promote somehow in all my insights, haha. Directly or indirectly, I do it. This is because I believe that education can truly transform the world. But when I request to start an online education business, I also request that do this only if you are passionate about transforming the lives of humans for better by giving them the tools to think better, understand better, and do better in life. People call out a lot of companies by names for making education a business – a money making gig. But to me, it seems not a problem as long as you are actually educating kids & learners. But if you are not educating – and only scamming them in the name of education & skill development, I think it’s really sad that humanity has you!
Start an EdTech app because it’s profitable, scalable, and impactful. One of the most fulfilling top business ideas on this list.
3. E-commerce store – best lean retail business ideas
Is there anything which is not being sold online these days? In just 3-5 Lakhs of investment, you can get your own e-commerce website. Additional, 5-8 lakhs of investment and you’ll also have an e-commerce mobile app for yourself. Easy. Maintenance of the website & mobile app may cost extra 1 lakh per month. But that’s it. Nothing else. Now you compare that to opening a retail store. First you need to pay 50 thousand to 1 Lakh for an space of 1000 square feet in tier 3 cities of India. On top of that, there is a deposit of 5-8 Lakhs. And then, you have to hire store representatives, cleaning staff, maintenance staff, and lot more. With ecommerce, you have infinite square feet & yards in the internet at a very very cheap rate. So, if you want to sell 10k or 1 Lakh products, you don’t have to worry about the premium rent in the cities. That’s what I like about e-commerce. But then are downsides too, logistic management and tech-savvy personality that you need.
Check here GrowthRomeo’s collection of good ecommerce business ideas
4. Top Solar business ideas for a scorching success
Who doesn’t believe in magic? You don’t? Then you should look at these tiny gadgets that turns sunlight into futin’ electricity. If this is not magic, what is? The best part, you can do this magic as well. Solar opportunity is one of the top business ideas to be playing with in 2024 Doesn’t matter whether you blog about solar products or you actually sell it with an offline brick & mortar setup or e-commerce store, you can turn sunlight into cash!!! People are distributing solar products, helping others install it, some are even launching a unique service of cleaning solar panel installations, and others lend their land to launch solar farms. A lot is happening in the solar space.
When are you starting a solar business?
5. Cloud kitchen business ideas, topping on a pizza profit
If you dwell in a city with lot of bachelor professionals and student crowd, cloud kitchen could be one of the best top business ideas for you to start. It is definitely a recommendation if you are on hunt for home-based, low-investment high profit business ideas. To start a cloud kitchen business in India you need a set of licenses which we also talked about in our insight on food business ideas. And of course you will need good set of cooks who can make delicious finger licking and mouth-drooling food for all. Do let me know, if you launch a cloud kitchen business.
6. Textile & Fashion exports business
We need food, apparel, home, and internet to survive. Did you notice? I said ‘apparel’. Apparel exports is a profitable top business idea for people who are into manufacturing or people who are good at design, development, and QA. India is a exporting hub. China & Bangladesh too are leaders in Textile export. Pakistan is not that behind either. In short, Asian countries are the leaders in textiles export. If you are Asian, this could be a good opportunity! There are lot of branching opportunities too – like, you can sell shirt buttons, yarns, dye colours, and lot more.
7. Spices manufacturing business
We have pretty detailed spice manufacturing business opportunity in our list of small business ideas. Please read it. By the way, Spices manufacturing is one of the easiest among all the top business ideas you’ll find in this list.
8. Start a Biodegradable disposable cutlery business
All the cutlery products are disposable. But only a few are biodegradable. With every passing day, the awareness about how we have disturbed the equilibrium of climate is increasing, and with it increases the awareness about what could be the end-result. Biodegradable spoon, paper, plate, and even juice packaging material are a reality. Spoon, plate, and paper cutlery products are quite traditional in Asia – India, China. But lately, thankfully the technological advancements are now empowering us to move away from plastics. Setup a manufacturing, wholesale, or retail business to bring more biodegradable cutlery products in the market. Biodegradable cutlery manufacturing is one of the most impactful top business ideas.
These are not the only top business ideas..
- These are not the only opportunities. If you want to explore more ideas then I would recommend you to try our comprehensive list of 277+ business ideas for India in 2024. Also, here are some more top business ideas to tinder your romance with entrepreneurship:
- e-recycling business
- Small finance banks
- Pharmaceutical startup companies
- Tourism & travel business
- Accounting and Finance services business
- Last mile logistics business
- Organic products business
- Dairy business
- Sports coaching business
- Export Import consultancy business
Do you want to launch your website or your company? Do you need help with marketing, or sales? We have got the right resources and the right partners for you. Please let us know if we could be of more use to you. Always happy to help new entrepreneurs and businesses.
