Industries play a big role in the flourishing of the Indian economy. Due to the industrial growth and the revenue, national necessities are satisfied. India encourages industrial growth in the private and public. Small scale industries, large scale industries, cottage industries, small businesses, etc. are always welcome.
Education is the foundation of every country’s economy. The literacy rate has risen to 69.3% since the inception of a formal Indian Education System. The revised National Education Policy 2020 has showcased large scale alterations for the good.
12 Indian Institutions made it to the top 100 list. India has also become the second-largest e-learning market because of our large population, closely followed by the USA.
After the 19th century, the transport sector has considerably increased after the country witnessed higher demand for transportation services. Currently, transport contributes 5.5% to India’s GDP.
85% of the transport in India is carried out by roadways. Railways are vital in transporting cargo in all parts of India. India has 13 major and 199 minor ports spread across the east and west coastline. Our aviation industry is the 9th largest in the world.
The Construction Industry has a share of 8.2% of the Indian GDP. The construction industry has given birth to many employment opportunities leading to a rise in the employment rate of India, providing jobs to more than 49.5 million people.
Urbanization and industrialisation have made this labour-intensive sector an important aspect of economic development.
Even though India is the second-largest food producer, it has the potential to quickly take over the first. The sugar production in Uttar Pradesh, vegetables and fruits in Andhra Pradesh, grain processing in Madhya Pradesh and chocolates and confectionery in small businesses ideas in Kerala has generated a lot of revenue.
India has exported products worth 5.8 billion $ all over the world. This agrarian country is also well equipped with food processing industries such as Godrej Foods, Amul, Parle, etc. If you are looking for more ideas on the types of industries that can be profitable,you can click here to know more about the same.
The pharmaceutical industry in India is an up-and-coming sector with a market size of 42 billion $ in 2021. With the increasing health awareness campaigns and economic growth, there has been a transformation in the healthcare industry of India. The low cost of production makes it possible for efficient pharma export.
Our national scientists and engineers are responsible for expanding the market size up to 65 billion $ by 2024 with the help of many government initiatives.
India has the maximum amount of IT exports in the world. The IT industry in Pune, Chennai and Hyderabad has been flourishing over the years. The Indian computer Industry accounts for 8% of the national GDP.
The IT industry of India has offered various job opportunities to over 4.5 million people from the total population. Tata, Infosys, Wipro, Tech Mahindra are a few of the major IT companies.
So, there you have it. Now you know the 6 popular types of industries in India. If you have any questions regarding this topic, ask them in the comment section below.