Delhi Still Holds Many Business Opportunities to Explore
Delhi’s economic growth may be slipping by a small margin, down from 8.82% in 2016 to 8.26% in 2017 according to Delhi’s Economic Survey report, but an economic growth of more than 8% is still above the country’s average. The outlook is looking positive too, especially with experts predicting a sustainable growth for several years to come.
There is no shortage of business opportunities to explore in Delhi. The city is among the most encouraging for entrepreneurs. Some business opportunities are very lucrative and may just be what you need if you are in the process of starting your own business.
Delhi’s Growing Tourism Industry
One of the main industries in this city is tourism. Delhi is one of the most popular destinations in India and is the home of many great destinations to explore. The famous Red Fort is located just a few minutes away from the city center. There are other attractions such as the India Gate and QutbMinar bringing in thousands of international and domestic tourists every month. The opportunities are certainly there.
Starting a business in the tourism industry is also relatively easy to do. There are specific services to offer, from inbound tour services where you work with other travel agencies from outside of Delhi to the support services needed to keep tourists comfortable and well-treated.
The metropolitan area of Delhi is the perfect environment for starting a tourism business. There are plenty of third-party vendors and outsourcing companies whose services you can use to jumpstart your own venture. You will not have to invest so much in infrastructure or machinery, as long as you have the right permits to move forward with the business.
Waste Management
Despite the recent developments, Delhi – and many other cities in India – is still struggling with waste management. There are only a few businesses focusing on this industry despite the high market demand for professional waste management services. There is a lot of money to be made too, especially with electronic waste management now being mandatory.
According to studies compiled by Northeastern University and its AACSB online MBA department, e-waste is causing serious concerns in India. The same masters in the business administration online department also reported that the growth of electronic waste in Delhi is currently estimated at 500%, and it will continue to stay that high until 2020. It is a tremendous opportunity that could be the perfect gateway to success.
Buffet Restaurant
If you want to enter the culinary industry in Delhi, the best way to do so is by opening a buffet-only restaurant. It is currently a trending business model that works really well with the market of Delhi. Combine the low cost of ingredients with good recipes, perfect location, and aggressive pricing, and you have a guaranteed success on your hands.
Buffet restaurants are starting to appear across the capital city and all of them are instantly popular. You too can take advantage of this growing trend, especially if you know your way around the restaurant business.