In this vast business world, a crucial yet invisible competition of being in the frontline is driving the foundation of economy. India is still considered as developing country which has its developing needs and wants which are required to be fulfilled with limited resources. To get self-independent, India needs more profitable business ideas through which we can redress the needs of this vast population and at the same time we can diminish the import and maximize the exports to earn more foreign currency. In such a scenario you need to think something out-of-the-box ideas which can exclusively help you to grow your empire rapidly. Around 19000 startup businesses started in India in 2023 itself. It exhibits that India has a bright future. Business trends of today are largely driven by technology. There are a number of technological and societal trends like Artificial Intelligence, Augmented reality, Virtual Reality, cloud technology and so on. According to the industry experts Artificial Intelligence will be one of the driving forces of the business industry.

"The human spirit must prevail over technology. - Albert Einstein (Scientist)"

Among the trending business ideas we have carefully picked Top 5 trending business ideas which will guide you to know and understand the market and will provide a clear roadmap to kick-start your business goal.

Electric Vehicle: This era is very much concerned about the health of nature and environment, and Petrol or diesel vehicles are highly polluting the purity of nature. But we can’t stop moving right?

Science and technology has contributed automobile engineering and bestowed the mankind with advanced system of electric vehicle which will keep us moving at the same time it will not convey its ill-effects on environment. Transport is the most essential and fundamental need of modern human. Now gradually the electric vehicles are covering the maximum part of car industry because its low maintenance cost, zero emission, cutting the cost of fuel, reducing the carbon footprint. On the other hand, there are multiple policies and incentives offered by the government depending on which state you are in. So, maximum of the car buyers will switch to this option rather than buying petrol driven vehicles. In coming years electric vehicle business will be one of the most profitable one in the industry. The global electric vehicle market was valued at $163.01 billion in 2020, and is projected to reach $823.75 billion by 2030, registering a CAGR of 18.2 percent from 2021 to 2030. In India 999,949 EVs sold in CY2022 represent a significant 210 percent year-over-year increase over the 322,871 units sold in CY2021. Ola has launched their new electric scooter, and they are targeting to make a profit of $5 trillion by 2025.

"If we launch a new product, we have to time it right. It's not about how soon you can do it but how well we can do it.” Bhavish Aggarwal, Ola-founder

Clean tech: Among the advanced technologies, clean technologies are the most amazing invention. It aims to reduce or minimize the negative environmental impact associated with various industries and activities. The priority of clean tech services is to promote sustainability, resource efficiency, and environmental protection while maintaining economic growth and human well-being. In the coming years clean-tech business will grow more inculcating new dimensions and inventions. it will collect a good profit and earn a strong government support initiatives like Pradhan Mantri MUDRA Yojana, through which the startups can take a loan with minimal interest. This technology makes use of IoT devices and artificial intelligence to function correctly and automatically. It has sensors for renewable energy monitoring, predictive weather modelling or carbon capture technology. It is used widely in LED storage and lighting, wind and solar energy. Its impacts include reductions in greenhouse gas emissions, conservation of water and natural resources, waste prevention through recycling and reuse. This year Indian clean tech company, Proklean Technologies raised $4 funding. The global market size for key clean energy technologies has the capability to reach more than $600 billion per year by 2030. Clean tech is one of the most highly profitable businesses for present days and years to come.

“We are going to invest money in going abroad. We started in Bangladesh and Sri Lanka at the end of last year. We're looking at Indonesia, Philippines, Vietnam, Malaysia and the Gulf for paper,”

~Vishwadeep Kuila, Co-founder Proklean Technologies

Space tech: India is embarking on advanced and upgraded journey as a successful nation and we are enjoying trailblazing facilities like weather forecasting, remote sensing, satellite navigation systems, satellite television, and some long-distance communications systems critically rely on space infrastructure. Space technologies are progressing with all their mighty efforts and capabilities. Space-tech companies are providing cutting-edge digitally advanced consultancy. Recently, Indian Space tech companies showed tremendous growth and raised approximately $205 million funding. Space science or aeronautical science includes the most complex and crucial techniques like, Space based High Power Laser, IoT Devices for Micro Satellite, AI / ML based Multi Sensor Data Fusion Techniques for Space based surveillance, Data Processing Algorithms for Hyper Spectral Payload and more. Last year more than 100 startups got registered under Indian Space Research Organization (ISRO). Bengaluru based company Pixxel is building the world’s first constellation of hyperspectral imaging satellite. Tech giant Accenture has invested last year, and this year Google has invested $36 million funding round in the company to fund the satellite. Recently Pixxel has taken part in Indian Space Conclave to represent and showcase their thoughts and mission to build a health monitor for the planet and advance the applications of hyperspectral imaging. The global space technology market size is anticipated to reach $731.8 billion by 2030, exhibiting a CAGR of 7.5percent.

“A lot of Indian investors were not willing to look at space technology, because it was too much of a risk earlier. Now you can see more and more companies raising more investment in India, and more and more companies have started coming up.”

~Awais Ahmed,Founder,Pixxel

Cloud Kitchen: With each passing day, the structure of food & beverage industry is changing and reshaping. Unlike the brick-mortar restaurants, cloud kitchens only allow the customer to order food online and take away of parcel. As the kitchen works from a virtual platform, this kind of kitchens are also known as virtual kitchen or ghost kitchen. This kind of business does not need too much of capital initially as you can continue this business from your home kitchen or can rent out a small space but still can earn a hefty turn over. This new concept of cloud kitchen started soaring after the strike of pandemic when the whole economy was in shut down mode. A cloud kitchen is a low-risk, low-capital solution that allows your company to work on new venture related to food products and brand concepts. Recent data pointed out that meal delivery orders increased by more than 150 percent from 2019 to 2020, and UBS anticipates the food delivery market to increase more than 10x over a ten-year period from $35 billion per year to $365 billion. In today’s corporate driven fast life ordering food became every day’s common ritual, because of hectic work life. Looking at the speeding pace of this new concept, more and more restaurant owners and food entrepreneurs are turning to cloud kitchens as an ideal business solution to capture this increase in food delivery demand. Millions of startups have created cloud kitchen earning and millions in just a few days. In such businesses you can maintain a steady profit around the year because, whatever be the reason, we don’t feel bored of eating and trying new foods. This concept of cloud kitchen is presently booming and in coming years many new concepts will be attached to this and it will present the world class food exclusively in the comfort of your home environment.

“I think there’s an awareness of the fact that more and more people now want to sit at home and eat, rather than brave the traffic and issues that plague the big cities in India. It’s more economically viable for them. Now you Netflix and chill and eat food from a restaurant essentially, but in your home.”

~Manu Chandra, Chef partner,the Olive Group of Restaurants

Solar Energy Business: The world is revolving with its own rhythm, but the ever increasing level of pollution is disgracing this normal flow. This decade saw an increasing level of stress on the sustainable environment. As its consequence, the use of renewable energy sources of energy is rapidly increasing. The solar energy sector creates and installs equipment to harness solar energy and transform it into electric power. If we see it from a business perspective, it is very cheap & convenient for India. Under the solar energy business, you can provide services directly to the consumer. In the global fight against climate change, India's statement that it plans to attain net zero carbon emissions by 2070 and to fulfill 50% of its power demands from renewable sources by the end of 2030 is a watershed moment. This sector is exhibiting rising solar energy demand, rising efficiency, and falling costs of solar technology, solar energy stocks can potentially provide investors with significant returns and amazing long-term potential. This sector is anticipated to reach around $238 billion by 2030, growing at a CAGR of roughly 40 percent between 2023 and 2032.

“The future lies in round the clock power through renewable energy. The solution lies in wind or solar energy equipment. Renewable technologies can also create a system less prone to market shocks and improve energy security by diversifying power supply options that are currently available.”

D V Giri, Secretary General, Indian Wind Turbine Manufacturers Association

Lastly, we can say that, for starting a business, we need not to have ample amount of capital and resources, but you can create magic with the least resources also. Before heading to a new venture, a strong zeal and daunting nature with a well-structured plan and innovative idea should be there.

So, without wasting time any more you just need to soar and roar!