Millennials Should Start These Profit-Making Manufacturing Businesses

There are several manufacturing business ideas with INR 1 crore investment that can be easily rolled out and would not require much governance
  • BY Jaspreet Kaur

    Feature Writer, BusinessEx

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  • Apr 01,2021
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  • 12 Mins Read

Manufacturing industry is one of the prospering sectors of the Indian economy. According to World Bank’s data, the manufacturing sector contributed 13.64 per cent of the country’s GDP in 2019. The sector not only upholds the economy but also other businesses indirectly. Realising its importance and potential, the Prime Minister, Narendra Modi initiated the 'Make in India' program to give a boost to the Indian manufacturing hub and give it recognition in the international market.

The Indian government is making efforts to strengthen the manufacturing sector and attract business minds to step foot in the niche. There are several manufacturing business ideas with INR 1 crore investment that can be rolled out easily. Here are some of the best manufacturing business ideas that aspiring entrepreneurs should adopt: 

Garment Manufacturing Business 

Garment is one of the essential items for human sustenance as it safeguards the skin against adverse weather. Owing to which, it becomes a prerequisite in daily life. Therefore, one can venture into the manufacturing domain and start a garment manufacturing business. 

Apart from creating regular apparels, a manufacturer can sew uniforms and other wearable accessories. Manufacturers can deal in a wide array of garments and thus, earn a decent income. For establishing a garment manufacturing business, one has to employ sewing machinery, skilled workforce, raw materials, factory space and clientele. The entrepreneur has to consider all these elements and accordingly, decide a budget. 

Paper Bag Manufacturing Business 

Usage of plastic bags have decreased gradually owing to its contribution to the rising pollution. Plastic bags pollute the environment throughout its process of production. The Indian government has also noticed harmful effects of single use plastic bags and thus, banned its usage. 

At this moment, a gap is created between demand and supply of plastic bags. Paper Bags can easily become a substitute for plastic bags and also, reduce pollution. They are biodegradable thereby, do not damage the environment  in any manner. To establish paper bags manufacturing business, a business owner would require industrial machinery, factory space, and workforce. Once the entrepreneur finds these essential elements, then he would have to look for companies or shops that require paper bags on a daily basis. 

Business owners can also create a strategy and target a particular niche. This will help grow the business exponentially and strengthen roots in a regional market.

Automobile Parts Manufacturing Business

Sale of automobiles in India has been increasing year by year. According to Mckinsey’s report, the (automobile) industry aspires to nearly triple vehicle sales by 2026, from 26 million to 65 million to 76 million vehicles, across segments. These could be definitive tailwinds for the Indian automotive components industry, which has ambitions of its own by 2026—to double the contribution to manufacturing GDP with a four-fold growth in size and a six-fold growth in exports. 

As more automobiles are coming onto the road, there would be an increase in demand for automobile parts and accessories as well. Entrepreneurs, who are interested in the automobile sector, can set foot in the industry and explore business opportunities. They can initiate automobile parts manufacturing business as spare parts are an imminent component of the vehicles. 

Aspiring entrepreneurs can start these manufacturing business ideas with INR 1 crore investment. These manufacturing business ideas promise huge profits and viability in the long run. 

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