INDIAN MANUFACTURING INDUSTRY SMALL BUSINESS IDEAS
Infrastructure manufacturing, an industry which has been a significant growth sector for the Indian economy inclusive of diverse companies including those engaged in manufacturing of machinery and equipment, electrical and metal products, cement, building and construction material, rubber and plastic products and automation technology products.
Well, while this seems to remain an important industry, hence, they are few key sector focus areas one should keep in mind. First, being the digitalising of vertical and horizontal value chains from product development and purchasing to manufacturing, logistics and services. Secondly, while one focuses on new product development, manufacturers, the priority is shifting to product and service offering from earlier product only.
Thirdly, there are constant efforts on forming multi-national partnerships, alliances and joint ventures to secure FDI, along with benefitting from advanced technologies, and improve productivity through factory automation. Following this, the domestic market is also focused on as the Indian manufacturers are also looking to gain a foothold in the global market by increasing sales in existing markets and by identifying new geographies.
Here are some products which have profitable manufacturing: