Small Business Ventures: Most Profitable Businesses in India (2024)

Fun fact: When it comes to small-scale businesses, India’s entrepreneurial spirit is alive and kicking!

With a booming economy, the Indian small business landscape is filled with opportunities for aspiring entrepreneurs. If you’re ready to seize these opportunities and embark on your entrepreneurial journey, this article is your guide.

Join us today as we uncover the most profitable businesses in India that could be your ticket to success.

The Current Landscape of Small Business in India

First, let’s talk numbers. Small businesses are not just about numbers on a balance sheet; they are about livelihoods, dreams, and innovations. These business ideas in India are the backbone of the country’s GDP, contributing 30% to the economy and providing jobs to over 110 million people. This is a testament to the entrepreneurial spirit and resilience of our nation.

Trends Shaping the Sector

2024 is seeing some exciting trends. Digital transformation is sweeping across every sector, from Kirana stores going online to farmers using apps to sell their produce.

Sustainability is another buzzword, with consumers gravitating towards eco-friendly products. Moreover, the gig economy is becoming one of the most profitable businesses in India, with more people opting for flexible work arrangements.

It’s a time of change, and small businesses are at the forefront of this revolution. These trends are not only interesting but also present lucrative opportunities for budding entrepreneurs.

P.S. Want to jump on the digital bandwagon? Check out our mba in digital marketing now.

Karan Shah - Founder and CEO at IIDE

Karan Shah

Founder and CEO at IIDE

Updated on: Aug 22, 2024

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Frequently Asked Questions

The most profitable businesses in India for 2024 include cloud kitchens, e-commerce platforms, digital marketing services, health and wellness ventures, and real estate rentals.

Starting a business with low investment in India can be achieved through ventures like digital marketing services, online retail, or starting a cloud kitchen. These businesses require minimal initial capital and can be scaled easily.

Yes, cloud kitchens are highly profitable in India. With the increasing demand for food delivery services, cloud kitchens are projected to become a $2 billion industry by 2024.

Key factors include understanding market demand, keeping initial investments low, ensuring scalability, and embracing digital transformation to improve efficiency and reach.

Yes, the real estate rental business, including co-working spaces and vacation rentals, is very profitable due to urbanisation and the rising demand for flexible working and living spaces.

Digital transformation enhances efficiency, reduces costs, and expands market reach, making small businesses more competitive and profitable.

Trends include the rise of e-commerce, increased focus on health and wellness, the popularity of cloud kitchens, and the growing demand for sustainable and eco-friendly products.

Karan Shah - Founder and CEO at IIDE

Karan Shah

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Founder and CEO at IIDE

Karan Shah is the Founder and CEO of IIDE – The Digital School, Asia’s premier digital marketing institute. With over ten years of hands-on experience in the digital marketing industry, Karan has played a pivotal role in empowering thousands of students to forge successful careers in this ever-evolving field.

His vast expertise encompasses various areas such as paid search, social media marketing, programmatic marketing, and much more. Karan's passion for education, teaching, and public speaking led him to establish IIDE, where he offers world-class digital marketing education designed to meet industry standards.

To date, he has trained over 60,000 students and worked with more than 25 corporates, sharing his knowledge through both online and offline platforms. A Harvard Business School alumnus with a specialisation in E-commerce, Karan is also an accomplished Tedx speaker. His industry insights and teaching excellence have earned him a prestigious role as a visiting faculty member at India’s top management institutes, including the Indian Institutes of Management (IIMs).