Just now, India has overtaken China in terms of population, and the state’s economy, according to experts’ forecasts, may soon move from fifth place in the world to third position. Moreover, India is experiencing the growth of production capacity, the expansion of the range of services, and progress in the field of finance, technology, and innovation, actively attracting overseas investors.
In addition, India is increasingly on everyone’s lips for brave startups and astounding business concepts. In today’s article, we will not contemplate unicorn startups in IT with a billion turnover, but only some businesses of a smaller scale, as well as trends and engaging types of production with a local flavor.
- Containers for the pharmaceutical market
The Indian company Pluss Advanced Technologies has released innovative Celsure XL VIP units for the pharmaceutical market. It is mentioned that these containers are exceptionally reliable, affordable, and durable. What else is special about it?
Using the advanced technology of vacuum-insulated panels (VIP) and up-to-date phase transition materials (PCM), these exceptional containers support precise temperature control during the transportation and storage of drugs. Furthermore, the trays are not only reusable and money-saving but an excellent ratio of payload to volume, simplifying transshipment between air and road transport.
- Lending to low-income borrowers
A prominent Indian tycoon R Thyagarajan made his fortune by lending to low-income borrowers with whom banks refused to cooperate and giving them loans for trucks, tractors, and other means of transport.
Nowadays, Shriram Group has turned into a conglomerate that employs 108,000 people who are specialists in diverse areas: from insurance to stock market analytics. Shares of the flagship company of the group reached a record level, boosting up more than 35% in 2023, which is four times more than the increase of the basic stock index of India.
People who do not use banking services in India often rely on so-called chit funds. Chit funds are a type of collective savings, where each participant contributes a fixed amount every month. Money is given to one of the investors every month until everyone receives their share. These funds are used to purchase farm equipment, tuition fees, or other major purchases which are in demand in a densely populated country.
With its developed economic landscape, India offers multiple opportunities for extra cash, and Forex trading is one of them. With a careflully chosen platform for trading such as JM, even a newbie broker will be able to dive into detail of currency exchange market, create a demo account and start trading using most volatile currency pairs.
- Sorting the harvest by size
The next Indian idea is of a completely different level, but it amazes everyone with its simplicity. The local population came up with a clever artisanal way of sorting fruits by size. All that is required for this is a few boxes and a couple of identical sticks above them, which are placed next to each other. As a result, if an apple rolls over the sticks, it will fall into a box with apples of the same size.
For sure, this idea is more budget-friendly than buying sorting machines especially if you own a small garden and not hundreds of hectares.
- Restaurant with robots
Robot waiters are increasingly common in Indian restaurants. For example, the Yellow House Robot restaurant has been recently opened up in Noida, where visitors are greeted by unique bright yellow robots.
How is the process working? Robots work based on artificial intelligence technology patented by Indian engineers. In order to accurately deliver food to visitors, technological waiters rely on a remote sensor into which the table number is entered. Impressively, a 12-hour shift by an Indian robot requires 2-3 hours of charging.
According to the owner, this is the fourth branch of the chain in the country, and thanks to new technologies, they are not only expanding but also attracting new customers.
- Production of latte mixtures with turmeric
Vahdam India, a brand known for its loose-leaf tea, launched a collection of turmeric latte mixes not long ago. Even if you are not a latte lover, these drinks may impress you with a unique taste and healthy ingredients.
For example, a mixture of a mushroom and turmeric latte contains reishi mushrooms, which strengthen the immune system and increase energy levels, and a latte with turmeric and Indian ginseng Ashwagandha is great for relaxation. As well, there are mixtures with latte with turmeric and ginger, latte with turmeric Classic, and latte with turmeric and moringa.
To sum it all up, it is possible to claim that at this stage, India has become a springboard for new business ideas and progressive innovations, and the businesses mentioned above serve as a confirmation of that.