India has turned up to be one of the fastest and most economically emerging countries in the past years with rapid growth in many industries utilizing the full potential of increase in Urbanization. With the increasing percentage over every fiscal year, India is becoming one of the world’s most rapidly growing markets, economically.
This whopping increase in the economic statistics of the country is majorly being contributed by the rapidly growing industries that have proved to be pillars of the growth of the country. Smarter younger generation and greater strategies to implement on economies are turning up to be a boon in the overall increase of the country’s financial power.
With new brands getting bigger, new businesses getting greater exposures both from private as well as governmental organizations are summing up to be a good inclusion for the growth of the country, both physically and economically.
This growth is basically visualized by the actual growth of many industries in itself over the past years. Many existing industries have grown up to a whole new extent and many upcoming industries have the potential of achieving great heights in the coming days.
Here are 10 of the many industries who will be making its valuable remark by 2020 in every aspect of growth for themselves as well as for the welfare of the country:
Infrastructure & Construction
The main contribution towards the urbanization of the country is the new aspects of buildings, townships and infrastructures that are in a great swing. This is probably the big reason for their growth in full potential in the coming years.
Increasing number of infrastructures throughout the area have brought in great aspects of its industrial growth roping in more jobs, better stability and security at its best in the coming future.
By 2020, Construction equipment industry’s revenue is estimated to reach $ 5 billion. By 2025, Construction market in India is expected to emerge as the third largest globally and construction output is expected to grow on average by 7.1% each year.
Online Retail & e-Commerce
With bigger and better technologies coming into handy for most of the people and the digitalization of the country is bringing in more and more people towards the influence of getting every work and business online which in turn is making this industry bigger day by day.
From pins to cars, clothes to a Smartphone, the lifestyle of every person is turning its way of shifting more from the real market to the virtual market, making this one of the most potential industries in the upcoming years.
The retail market is set to cross the $ 1 trillion mark by 2020 from $ 672 billion in 2017. India’s e-commerce market is also set to grow at a CAGR of 30% for gross merchandise value to be worth $ 200 billion by 2026.
Textile & Garments
With new designs and an all-together new trends coming in every moment, people want to get used to this new trend setting in and so the clothing industry is serving its purpose to a great extent.
Turning up to be one of the most commonly used profitable markets, people leave no stone unturned to utilize its capability making its worth go high in the coming months and years. India is among the world’s largest producers of Textiles and garments.
Domestic Textile and apparel industry contributes 2% to India’s GDP and accounts for 14% of industrial production, 27% of the country’s foreign exchange inflows and 13% of the country’s export earnings. The Textiles & garments industry in India employs 45 million people and is the second largest after agriculture sector in terms of employment.
Indian gaming industry was worth about $290 million in 2017 with more than 120 million online gamers, as reported by KPMG India and Google. If we talk about the poker industry, the estimated value of the futuristic industry stands at $100 million.
With players like Uma Poker, the face of online poker is changing in India. Uma Poker and other major players are promoting poker as a sport in the country. Business tycoons and celebrities like Raj Kundra and Shilpa Shetty are participating in this growing market.
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Information Technology & Electronics
With the increasing demand and need of easiness among everyone, greater ways are getting implemented to bring in greater technologies to the fingertips of the masses. From mobile to televisions, laptops to robots, technology is giving its best to make things easy to use for even the ones who aren’t so good with it.
With the inclusion of artificial intelligence, this industry has taken a good leap into its accessibility, its usability and its overall value, projecting it to be one of the biggest markets in the coming years.
The revenue of Information Technology and Business Process Management (IT and BPM) industry in India is estimated to reach $ 350 billion in the next three to five years.
Healthcare & Pharmaceuticals
The advancement of medical sciences has proved to be one of the biggest helps to the society, serving its best to the people of the earth as a whole. New ways of treating diseases and the new technology of preparing medicines have brought in huge scopes for the individuals associated with it.
Thus, this industry has the capability of making it big and has the potential of great achievements in the coming days. India is the source of 60,000 generic brands across 60 therapeutic categories and manufactures more than 500 different Active Pharmaceutical Ingredients (APIs). The export of generic drugs is one of India’s core strengths. The export of Pharmaceuticals stood at $ 16.3 billion in 2015-16.
India is the second largest telecom market in the world with a subscriber base of more than 1.2 billion active mobile connections. The telecommunications industry in India has witnessed a tremendous growth over the past few years.
With the launch of 4G service JIO, and affordable data tariffs, the revenues from the telecom equipment sector are expected to grow to US$ 26.38 billion by 2020. The Government of India’s National Digital Communications Policy, 2018, will attract investments worth US$ 100 billion in the telecommunications sector by 2022.
More than 25 million vehicles are manufactured in India out of which only 3.5 million are exported. And that number is expected to grow two folds till 2020. India is expected to become the third largest automobile market in the world in terms of volume in the upcoming seven years.
With a strong international position in the heavy vehicles arena, India holds the status of the world’s largest tractor manufacturer, second largest bus manufacturer and second largest trucks manufacturer in the world. International players like Elon Musk has plans to launch Tesla in India.
Automobile sector in India has attracted more than $17.5 billion in foreign direct investments till 2017 which accounts for 5 per cent of the total FDI in India.
Media and Broadcasting
With a large distribution and broadcasting industry, India’s digital advertising is projected to increase at a CAGR of 30 per cent by 2019. Indian media industry comprises approximately 900 satellite TV Channels, 6000 Multi-system operators and 60,000 local cable operators. Adblocking has affected the industry upto some extent, but the overall results are still profitable. With over 114,820 registered publications and 2,500 multiplexes, the media market is expected to reach $33.7 billion by 2020.