Following the COVID-19, the world underwent numerous changes, and the industrial industry also saw changes as a result of the pandemic’s effects. Even though the epidemic forced several production facilities to close partially, the industry has recovered quickly.
India’s manufacturing industry has been expanding steadily since the second covid wave. In July, manufacturing activity hit a three-month high. The Purchasing Managers’ Index (PMI), according to IHS Markit, was 55.3 in July 2020, showing sustained expansion following the pandemic.
The pandemic brought home the importance of raising manufacturing’s share of the economy, which is now dominated by the service sector. Due to this, numerous aspiring business owners and manufacturers have entered the market.
1. Ethanol Manufacturing
One of the most popular business concepts right now in India is ethanol production. The demand for ethanol is rising throughout the nation as the government plans to blend 20% ethanol with petrol by 2024 to prevent environmental pollution. Ethanol is utilised in the production of plastic, pharmaceuticals, cosmetics, and alcohol in addition to being blended with fuel. To promote the ethanol manufacturing sector in India, the government recently raised the price of ethanol throughout the nation. Sugarcane, corn, and other food grains can be used to make ethanol. A budget of between 50 and 80 crores of rupees can be used to launch the ethanol production facility with the bare minimum capacity.
2. Papermaking
One of those manufacturing business beginning ideas is papermaking, which involves turning cellulose fibres into paper.
Paper created from cellulose fibres, which are sourced from plants, is recyclable and biodegradable. Wood pulp, which is more affordable than other plant fibres, is used to make the majority of paper. Before it needs to be replaced, paper can be recycled multiple times.
Additionally, that recycled paper can be used to create new goods like:
.Journals Envelopes
.box packaging
.Paper shopping bags
.Useless paper plates
Paper is also compostable, making it an environmentally beneficial product—even better than toilet paper.
Paper can be used for many things, including gift wrapping and wall covering.
3.Li-ion Battery Assembly Unit
Lithium-ion batteries are an important component of automobiles, smartphones, laptops, etc. Due to the proliferation of electronic devices and shift towards electric vehicles, the demand for lithium-ion batteries is expected to surge in India. Since India does not have facilities for the manufacturing of lithium-ion batteries, you can go for an assembly unit. The investment required to start a lithium-ion battery assembly unit ranges from Rs. 1 to 5 crore.
4. Textile producer
A few manufacturing business concepts that involve supplying other manufacturers would be nice. That’s deviating from the norm.
A textile-producing company creates textiles and other products using synthetic or natural fibres. The most popular types of textile fibres are: Cotton, Linen, Wool, and Silk
Many different goods, including apparel, upholstered furniture, and carpets, can be made with these fibres.
The process of creating a textile entails spinning the fibres into yarns, weaving or knitting the yarns into fabric, and finishing the fabric to give it the required characteristics. The final performance of the textile is influenced by the type of fibre, yarn, fabric construction, and finishing procedures.
5.Eco-friendly Packaging Manufacturing
With growing concern for the environment, people are now looking for eco-friendly and sustainable packaging options. Hence, one of the opportunities in manufacturing that you can explore is eco-friendly packaging materials.
For this, it is important to study the market to understand what kind of eco-friendly packaging people are making. paper bags, cardboard boxes, biodegradable plastics, and others. Next understand the budget requirements, machinery requirements, and resources available to you. Prepare a detailed business plan and understand all the nitty-gritty.
6.Computer Accessories Manufacturing
In India, technology is developing quickly. As a result, the production of computer accessories has dramatically increased. The sector produces a range of computer accessories, including keyboards, speakers, and monitors, in addition to other closely linked goods, such internal drives, external hard drives, and printers.
In the upcoming years, it is anticipated that India’s computer accessories manufacturing business would continue to expand and prosper due to the rising demand for high-quality computer accessories and the government’s support for the manufacturing sector.
7.Solar PV Modules Manufacturing
The solar sector in India currently imports solar PV modules from China and other nations. The government recently established the PLI scheme for the sector, offering incentives to businesses, to improve local production of solar PV modules. Therefore, the industry is seeing significant investments from business owners. While large-scale businesses can make solar PV modules, MSMEs can play a significant role across the value chain as the suppliers of components to major firms.
8. Automotive parts manufacturing
Numerous systems and components used in automobiles are produced by small manufacturing concepts like the production of automotive parts.
This might encompass anything from wheels and electrical systems to engines and transmissions. Original equipment manufacturers (OEMs) and the aftermarket are often served by producers of automotive parts.
Various automotive part types can be categorised based on how they work or where they are located in the car. Typical illustrations include:
.motors and motor components
.Transaxles and transmissions
.Components of the chassis
- .Interior components
- .Exterior components
9. Electronic components
India has become one of the world’s fastest growing electronic marketplaces, with industry experts predicting that the country could reach USD 300 billion in electronics manufacturing by 2025-26, roughly four times the present USD 67 billion. The Production Linked Incentive Scheme has played a significant role in propelling the expansion of domestic electronic product manufacturing and has resulted in the creation of thousands of jobs. India is currently undergoing a digital revolution, which is moving the consumer electronic manufacturing industry forward. The electronics industry accounts for 2.5% of the country’s GDP and employs approximately 13 million people.
Although the manufacturing industry is a rising one that is luring investors, getting started in the industry and running a manufacturing business is not that simple without assistance from specialists. Please register with pletheonconsulting if you intend to work in the manufacturing sector to gain access to vetted manufacturing consultants. We have finished more than 2,000 manufacturing consulting projects nationwide as of no