10 Best Future Business Ideas in 2020 in India

Whether you’re thinking of starting your own business or you’re just curious, our list of best future business ideas in 2020 in India will definitely interest you.

No matter what you plan on doing, you need to think about the future. Every decision we make right now has an impact on the future and carries consequences which may or may not be positive. That’s why decision making is sometimes complicated. Not because we don’t know what we want, but because we fear what that decision may cause tomorrow.

10 Best Future Business Ideas in 2020 in India

Rawpixel.com/Shutterstock.com

For example, when we are choosing what college to enroll into, we consider many things related to it. One of the most important things when choosing a college is the possibility of finding employment upon graduating. The same is with every major decision we make. We consider the possible effects and what we can achieve by doing this or that. We tend to say sometimes that overthinking causes problems, and while that is true for minor things in life that won’t bring a big change anyway, it is actually quite desirable to think very carefully when planning a huge step like starting a business.

When we think about starting a business, in a way we need to attempt to predict the future. What do people need now? How are their needs going to change in the next ten years or so? There are many similar questions we must ask ourselves when considering an idea and developing a business plan. But this requires a little bit of creativity too, not only knowing the economy of today. A clever entrepreneur does not only pay attention to the present trends that are already successful because hundreds and thousands of others are already doing that. If you only focus on what’s popular now you’re likely to fail. So how do successful entrepreneurs predict the future? Entrepreneur writes about that stating that the key is in predicting the trends that will yet happen. That means taking a risk and doing something different instead of following everyone else and copying ideas.

Sometimes we may think an idea is ridiculous and won’t work but that’s not necessarily the truth. In fact, many successful businesses started as risky ideas that might have sounded silly to someone. It must be said that there is no guarantee that a business will be successful, despite the effort you put into analyzing the market. No matter how well we think something through, a certain degree of risk is always present since the world is changing so rapidly and some things cannot be predicted. But a certain risk is supposed to be present. After all, if there is no risk then there is no gain either, and we must dare to take risks if we wish to be successful.

When we talk about the risk, we talk about the profitability of course, as it is the greatest concern when starting a business. We wrote about this issue in our previous list of 11 Profitable Agricultural Business Ideas for Young Entrepreneurs, so you can take a look at it to learn more. So as we said, it takes a lot of effort to analyze the market and predict the future.

With one of the fastest growing economies, India is on its way to becoming a successful developed country. The country is going through major changes as we speak and with such a large population, the potential of becoming an economically developed country is great. There are fresh young minds who are ready to put their degrees to a good use and change the country for better. More and more students choose engineering colleges as they are becoming aware what this field offers to them. Not only does it offer them a potential to have a bright future and a successful career, but the knowledge gained through years of schooling will enable them to help the country’s economy grow faster and create new jobs too. New sectors are emerging which have the potential to flourish in the next few years and bring great profit. These sectors are the hope for young entrepreneurs who wish to invest money into a business idea.

So what are those potentially successful businesses that might bring profit in the future in India? We made an attempt to find the best future business ideas for the future to present to you and help ease the process if you’re thinking about a new business venture. To find those ideas we had to research a lot. For that purpose, we visited SiliconIndia and IndianWeb2  where we found some interesting suggestions based on predictions of experts. We compiled a list of 10 best future business ideas in 2020 in India.

10. Consultancy Businesses

There is a belief among experts that there will be a growth of consultancy businesses in the future so this may be something to think about if you seek profitable business ideas. Whether you decide to start a recruitment firm or a customer consultancy business, you’re likely to be very busy either way.

10 Best Future Business Ideas in 2020 in India

Alex Brylov/Shutterstock.com

9. Collaborative Economy Business

Airbnb and UBER are both businesses based on the collaborative economy and they are a huge success. In the future, it is predicted that similar businesses will grow so we can expect more and more of them in the next few years. If you’re looking for profitable ideas for the future, this might be the one for you.

10 Best Future Business Ideas in 2020 in India

GongTo/Shutterstock.com

8. 3D Printing

How cool is it to be able to simply print anything you need using a 3D printer? 3D printing, the next one on the list of best future business ideas in 2020 in India is all about that. It allows you to actually print whatever you need right away. Although this is somewhat present now, 3D printers are still expensive. 3D printers aim to replace the lengthy factory processes and save both time and money. Being able to simply print any item you need is really a sign that the future is already here.

10 Best Future Business Ideas in 2020 in India

Stock-Asso/Shutterstock.com

7. Renewable Energy

Although the issue of renewable energy sources is not new to us, we are still not doing enough to preserve the environment. As the population is expanding, this remains a burning issue we must not put off anymore. We need new sources of renewable energy so in the future, we will need more and more green business ideas if we want to save the Earth. Renewable energy sources is a field that can spark great profitable business ideas by 2020.

10 Best Future Business Ideas in 2020 in India

UbjsP/Shutterstock.com

6. Outsourcing

Outsourcing, the next one on the list of best future business ideas in 2020 in India represents a simple solution that can bring much greater profit to companies, and it is already becoming very popular among developed countries such as the USA. How? Due to high operating costs in these countries, the profit is less significant. That is why they outsource their work to employees in less developed countries such as India, where the operational costs are much lower so there’s greater profit in the end.

10 Best Future Business Ideas in 2020 in India

lOvE lOvE/Shutterstock.com

5. Freelance Businesses

Many young people go for this option now as it doesn’t require anything more than a computer and Internet access. It’s a great way to earn money without going through much of a trouble. This new trend is likely to continue and expand even more in the future, so we decided to include it in our list of 10 best future business ideas in 2020 in India. Virtual jobs and freelancing are especially growing in developing countries and will probably continue to grow in the future as more and more people switch to working from home.

10 Best Future Business Ideas in 2020 in India

Rawpixel/Shutterstock.com

4. Co-Working Spaces

Everything is changing as we are thinking of ways to avoid unnecessary costs. That’s why separate offices will gradually turn into co-working spaces, the number 4 on our list of best future business ideas in 2020 in India, so as to prevent high costs of rent. It’s a profitable idea worth considering if you’re planning on saving some money.

10 Best Future Business Ideas in 2020 in India

SFIO CRACHO/Shutterstock.com

3. Real Estate

We are continuing our list of best future business ideas in 2020 in India with real estate that is a profitable industry now, but it appears that it will continue to be so in the future too. It is already very difficult to find affordable houses as the world is becoming overpopulated, and a great number of people move to cities to seek job opportunities leaving the country behind. It will only become more difficult in the future as the population continues to increase. All in all, it seems that it’s a good time to start a real estate business.

10 Best Future Business Ideas in 2020 in India

STUDIO GRAND OUEST/Shutterstock.com

2. Healthcare Industry

Together with the rapid growth of world population, there is an increasing demand for healthcare professionals that will only continue to grow. It is impossible to ignore the healthcare sector as we all need doctors so this is one of the best ideas for a business in the future as it is now. And now, let’s see the number one on our list of best future business ideas in 2020 in India.

10 Best Future Business Ideas in 2020 in India

Minerva Studio/Shutterstock.com

1. Information Technology

The IT industry is really one of the most successful ones in India helping the country transform into what it is now by providing technology solutions. The Indian It sector will yet flourish as it is predicted that it will become the highest sector employer by 2020. Information technology made India a global player when it comes to technology solutions, therefore, it deserves to be the first among the 10 best future business ideas in 2020 in India.