India as a nation is not just advancing in terms of businesses, technology, wealth or education, but the country has witnessed a remarkable growth in the number of women entrepreneurs in the last few decades. Women today are striding into almost every industry and sector by their entrepreneurial abilities. They have come a long way from being just a homemaker to business, inventions, and leading new ideas. In the current era, women are playing a vital role in the growth of the Indian economy and have made a big impact and got success in almost every sector. This is the scenario in the Indian corporate and business world today, where women are leading top ventures & ideas, and making the nation proud by becoming a great leader & entrepreneur. It is also imperative to keep this trend going on and in order to do that, we have presented some of the key business sectors for women for them to choose and grow as an entrepreneur, depending on their skills and passion in 2021.
e-Commerce Industry - The growth of the e-Commerce industry in India has inarguably reduced the barriers to becoming an entrepreneur and one demographic that has capitalized on this opportunity has been women, entrepreneurs. The idea of ‘minimum investment, maximum profit’ in e-Commerce businesses is helping women entrepreneurs to start and grow their businesses while working from the comfort of their homes and/or creating their own schedules. Not just that but the according to GlobalData, a London based data collection company, the Indian e-Commerce sector is poised to reach the Rs. 7 trillion marks by the year 2023. This is after taking into consideration the current COVID-19 pandemic and its effects. As an increasing number of consumers opt for online buying over physical shopping and payment activities, even the smallest grocery or Kirana shops hold the potential to grow exponentially in the next few years. The statistics simply show that the e-Commerce sector holds great potential for women entrepreneurs as well. This is, of course, being supported by online payment solution providers holds immense potential for these businesses as well.
Food & Beverage Industry - There is no denying the fact that women are now taking significant roles in the food and beverage (F&B) industry. Women are breaking the stereotypes and treading into the male-dominated entrepreneurship world. Not just that but the F&B industry is in favour. The total organized Indian F&B industry is expected to be around Rs. 4,00,000 Cr market as of 2019 and projected to grow by 2.5x to Rs. 10,00,000 Crores by 2025 (CAGR of 16 percent) - leveraging India’s favourable demographic (1.4 Billion strong population, rising income levels and higher urbanization). Though dining out is the most famous leisure time activity among the youth and families, as a result, cafes and restaurants are booming these days. Some great business opportunities in the food industry are cafes as cafes are a huge hit among college students these days. Establishing a restaurant is another great idea. If you have the right funding and a great management team, restaurants are great businesses these days. The home-based catering business is another domain in which an individual can excel as a professional. Women who love cooking can start their own small catering business and take party orders for birthdays, anniversaries, kitty parties, and much more.
Green Products & Services Industry - As concerns about global warming and sustainability become increasingly prevalent, a more environmentally conscious population is coming into the consumer purchasing market. Green products have gained popularity in this landscape, by offering quality goods that have low environmental impacts. There are several segments in this industry in which dedicated women leaders can start their venture. From setting up an organic store to investing their time in recycling waste, and from making clothes from plastic to establishing brand and factories for eco-friendly toys, all of these segments are holding huge potential in the current era. This creates a great opportunity for women entrepreneurs in India, which they can leverage not just to start their own organization but to provide employment opportunity for rural women as well.
Online Conversion in Internet Marketing - These are professionals who are in the business of turning every activity into a digital one. Online conversion specialists can transform a brick and mortar business into a smooth online one. This will be the need of every business over the next few years. The segment also possesses a good opportunity for women entrepreneur. The prime task of an online conversion specialist can differ from creating websites to having robust digital marketing campaigns, and handling payment gateways, modern business models and much more.
Over the top entertainment (OTT) Entertainment Industry - After the unexpected occurrence of coronavirus pandemic and shutdown of physical theatres and multiplexes, the Over the top (OTT) entertainment industry witnessed huge demand. With people locked indoors, there was limited scope for entertainment. This is when players such as Netflix and Amazon Prime gained viewers. On the Indian front, internet access in rural areas and higher data consumption has created a market for regional content. Most Indian content is music, Bollywood and cricket related. There is also a large NRI community that watches ‘desi’ content online. Though it’s developing, a lot more can be achieved in the Indian OTT Entertainment sector and therein lies the business opportunity for women leaders in India. This market is set to reach $5 billion by 2023.
Conclusion
Apart from the above-mentioned spaces that hold great potential, there are multiple businesses in the Edutech, Biotech, Smart Construction, Agritech and other sectors that holds ample potential for growth of the women leaders in India. The trend is a self-sufficient, sustainable, technology-led business scenario that is going to take India to the next level in the coming years. And it’s the local entrepreneurial community that we believe has the ability, passion and innovation to achieve this. The only need right now is a dedicated aim in the mind of women entrepreneurs. By considering these business ideas and availing government-funded schemes, every Indian woman can become an entrepreneur and fulfil the dream of owning a business and becoming financially independent.
