Small Business IDEAS in Gujarat
Gujarat is one of the leading industrialized states in India. Gujarat is considered the petroleum capital of India due to the presence of large refining capacity set up by private and public sector companies. According to the World Bank report, Gujarat ranks top in ease of doing business among Indian states. Gujarat’s Industrial Policy offers attractive incentives and concessions for prospective investors. Gujarat is the hub of chemical industry. Major industrial sectors are textiles, electrical engineering, chemicals, fertilizer, petrochemicals, drugs & pharmaceuticals, dairy, cement & ceramics, gems & jewellery, etc. Here we have compiled top 10 best business ideas in Gujarat according to the industry trend, raw material availability, and market potential.
Top 10 Best Business Ideas In Gujarat
#1. Art Supplies Store
A full-scale art supplies store is one of the most legitimate business ideas in Gujarat. This is a profitable retail opportunity for individual who is passionate about art and has knowledge about the equipment that is essential for the artists. Gross margin is high. You can start with a franchise also. For a small store, focusing a niche is important.
#2. Fashion Design Institute
You can start a fashion design institute in the state Gujrat. Sufficient knowledge of the subject, artistic mind and adequate experience on the course in important. As people are becoming more fashion conscious, apparel and accessories companies are hiring people with various fashion designing portfolio. So, the demand of fashion design institutes and courses are rapidly growing.
Fertilizer contributes a large segment of the state’s economy. Manufacturing primary and secondary nutrients are the key focus area. Fertilizer is a steady business that shows no signs of fading. Fertilizers are extensively being used to improve per hectare production of crops that can be used for food and industrial applications. Fertilizer distribution is one of the most profitable small business ideas in Gujarat to start with moderate capital investment.
#4. Jeans Manufacturing
The textile Industry has always played a pivotal role in the industrial and economic growth of the state of Gujarat. It is the largest producer (35%) and exporter (60%) of cotton and is the third largest denim producer in the world. The state is known as the ‘Manchester of the East’ and ‘Denim City.’ With proper planning and substantial capital investment, jeans manufacturing can be initiated as small scale basis, Entrepreneurs can expect an approximate internal rate of return (IRR) of 21.31%.
#5. Micronutrient Manufacturing
Gujarat is the hub of Chemical industry.A full-scale micronutrient manufacturing operation demands the several raw material supply smoothly. You can get all the required raw materials from the state inside. Micronutrient manufacturing is one of the most legitimate business ideas in Gujarat to start with substantial capital investment. Micronutrient manufacturing involves an elaborate process of inventory management, production, packaging, and marketing.