With the formalities of starting your own business becoming easier, the inclination towards jobs has decreased. Today most people have started thinking about their own businesses. This is very important for India's economic growth. The whole world knows that America is the biggest name in the global economy. In the race for the second position are two big Asian countries—India and China. Both these countries cover almost one-third of the world in terms of population. Their economy is also very big.
China has recovered from the global recession in a very good way, and today it is established as the second largest economy of the world. However, India has also continuously strengthened its economy with time, and today it is becoming a hub of entrepreneurs.
According to the data of the Government of India, micro, small, and medium industries contribute about 8 per cent to India's GDP. These small businesses provide 1.3 million jobs to people in India every year. For starting a new business, you must have business knowledge and also about top companies, that are performing well in the same business for strategy. get top companies data with the help of a database provider company. After agriculture, it is the second largest job provider and plays a very important role in India's GDP. Today, there are more than 48 million small businesses in India, which is more than double the number of small companies in the US (23 million).
According to a report by Business Today, the division of top industries in India is as follows:
Retail (excluding transport): 40% of people do this business.
This industry contributes 10% to Gross domestic product and advantages around 8% of individuals with regards to work. India is the fifth biggest decision for retail on the planet.
Textile business: 8.75% people do this business.
This industry provides employment to more than 45 million people. In the last few years, this industry has played a big role in India's economy by sharing 2 percent of GDP.
Food and beverages: 7% people do this business.
This food and beverage industry plays a very important role in India's economic growth. This industry is also given a lot of encouragement by the government.India's food and staple market is the 6th biggest market on the planet and its portion in deals is 70%. Above all, around 1.85 million individuals work in this industry. By 2025, this figure is expected to reach 37 million. Its share in product GDP is 14%.
Auto (sales, maintenance, repair): 3.6% of people do this business.
India's automobile industry is the fourth largest industry in the world, while India's bike industry is the biggest on the planet. The annual turnover of these automobile companies in Bangalore is 100 billion US dollars. It provides employment to about 32 million people and has a 7.1 per cent contribution to India's GDP.
Furniture: 3.2% of people do this business.
At present, this industry contributes marginally to India's GDP, but it has a lot of scope for growth in the next few years.
You may also read:
Comments