If you are on a verge of establishing a startup, the first critical factors to check it how potentially will the sector you step-in would grow. How much are your services expected how long would they last in the market? You would definitely want to tap into a space that is on hype and has more scope. You companies innovation in which ever field you enter should last for quite a few years at least.

Also, get into an industry that most investors eye on. Let us discuss about few fast growing industry. Few sectors in India like mining, utility etc were good in the past as they were growing at a steady pace. However, these sectors are slow downed to a major extent .On the other hand, few industries like technology, machine learning, renewable energy, electric vehicles etc are on the verge of the rapid growth. Get to know the best industries to venture.

Industries with Long term Potential

Information Technology
Nowadays mobile phones, social media, networking sites and others have opened wide gates for technology. Especially peoples craze for interesting games that are based on Virtual Reality and Augmented reality is making IT scale up to height. the field of Information Technology is not only limited to sharing information and using technology in doing it.

It is definitely much more than that. It is not just to communicate effectively to other people but to understand what they need and what they wish to have.

There are many factors that are boosting the growth of this industry like technological advancement, economic needs, the Indian government taking beneficial decisions (digital India) etc. Considering these factors, the information technology industry can be assumed to continue to grow.

According to Statista India’s IT & ITeS industry grew to US$ 181 billion in 2018-19. Exports from the industry increased to US$ 137 billion in FY19 while domestic revenues (including hardware) advanced to US$ 44 billion.
Spending on Information Technology in India is expected to grow over 9 per cent to reach US$ 87.1 billion in 2018.

FMCG (Fast-moving consumer goods)
Though this sector is hit by the economic crisis and slowed down to a point right now, this sector will never die.

In the past few years, FMCG companies are growing in the Indian rural areas/villages. Earlier, people in rural areas do not like to use the products of FMCG companies. However, the trends are changing these days. Therefore, these companies have a very good growth opportunity in both in urban and rural areas as well. If you are looking for a safe industry to invest and establishing a startup, then FMCG industry is one of the best sectors for the long-term investment in India.

Wellness
This industry will provide wider opportunities cause it strives to offer very important need of a person that is mindfulness, mental stability and fitness too…

“Wellness is one of the biggest industries in North America right now. Entrepreneurs can branch off into any and all directions that are relevant to what they want to do. You may start up as a personal trainer, open up a yoga studio, or create a nutrition product.”– Deborah Sweeney, CEO, MyCorporation.com

Personal Financing, Food-Tech, Hospitality, Automobile, Health, Transportation are few other industries that are expected to consistently grow for a long-term.