Top 10 Fastest Growing Industries in India 2024 Updated

Fastest Growing Industries in IndiaFastest Growing Industries in India

Fastest Growing Industries in India

Top 10 Fastest Growing Industries in India. If you desire to start a business or want to enter that industry, which will boom in the next decade, this article will help you a lot. So, below is the list of some industries which are expected to boom 2024-2030 in India. 

Top 10 Fastest Growing Industries in India 2024

Top 10 Fastest Growing Industries in India

  1. Real Estate

2. Forestry

3.Education Technology

4.Mining

5.Ecommerce

6. Coal Industry

According to various research and studies, it has proved that the coal industry will be the most growing in India. Coal is used to form electricity. It plays an essential role in producing electricity. Research says that India and China will continue to use coal in terms of generating electricity. More than one-third part of power is produced by the fuel. People will keep using coal. That is why the coal industry will be growing in the next ten years.

7. Construction Industry:

As India is developing, the infrastructure of India is also growing. The construction industry is playing a crucial role in India’s development as it is creating investment opportunities in several sectors. An enormous number of the population’s livelihood depends on the construction industry. 

The construction industry is overgrowing, and it will keep growing due to the increasing demand for infrastructure projects and real estate. It contributes almost 5% in national GDP

It is hoping that the construction industry will boom in 2020-30.

8. Health care Industry:

No doubt, the Health care industry is developing in India, and it is already a developed USA. The requirement of the health care industry has also improved as Indians are becoming aware of the health care types of equipment and health care education. And it has become one of the fastest-growing sectors of India. It will keep growing in the next ten years also. 

The health care industry consists of health care equipment, medical devices, health insurance, hospitals, medical tourism, etc. Due to the incredible growth in India’s healthcare industry, India is considered to be the 3rd most significant health care market by 2020. 

9. Manufacturing Industries: 

The manufacturing industry is taking the lead in Indian development. India is a developing country, and manufacturing, labor cost is low, and the raw material is cheaper than in other countries. But there is no need to worry. India has achieved tremendous growth in manufacturing industries since the last decade. 

Due to increment in the business, the requirement of business stuff also increases.

That is why all the responsibility of manufacturing things came on the shoulder of the manufacturing industry. Due to the rise in the industrial revolution and urbanization, we can see massive growth in manufacturing industries in the next ten years.

Also Check: Top 10 Manufacturing Industries in India

10. Automobile Industry:

The automobile industry turns out to be the largest in India. A sector that contributes almost 7% in national GDP and wants to increase its rate to 12%.

As India is developing, the automobile sector is increasing, and demand for automobiles increases rapidly in our country. The automobile industry covers an extensive scope of those companies, including the design, development, manufacturing, and selling of vehicles. It is one of the vital sectors of India, which creates considerable revenue. 

It is estimated that the Automobile industry

will increase by about 3.5 percent by 2020. Thus, the Indian market can become the market leader in terms of the automobile sector in the next ten years.

11. Information Technology (IT) Industry:

Its industry in India shows tremendous growth from a period. In 1998 it contributed only 1.2% to the national GDP, but in 2017 the percentage of GDP reached 7.7%.

Information Technology in India comprises two major components: IT services and business process outsourcing (BPO). The IT industry is rising and overgrowing.

IT industry will be going to boom in 2020-2030.

12. Tourism industry:

Tourism is one of the sectors which contribute highly to the Indian economy. According to the previous reports and studies, it was me4ntioned that the Tourism industry contributes approximately 7.2% to the national GDP. And the growth rate will increase by up to 7% in the next decade.

The tourism industry is one of the largest industries in India and helps in generating more foreign exchange. It is an enormous scope of earning foreign money. The government of India puts all the efforts in increasing the tourism industry and find ways to expand it.

The tourism industry in India will definitely be going to boom in 2020-2030.

13. Pharmaceutical Industry:

The pharmaceutical industry will be a considerable rise in the next decade. The sector provides a lot of job opportunities for the unemployed sections of society. It is also overgrowing, and it undoubtedly will keep growing in the future as well.

The Pharmaceutical industry is those industries that trade in brand medications and medical equipment. The main aim of the industry is to produce effective medicines, drugs, and vaccines. In India, where there is a large number of patients, people are suffering from any kind of diseases there the pharmaceutical industry is like a boon for them. It discovers all those medicines which help in recovering fast. That is why the Pharmaceutical industry has more enormous scope to boom in the next ten years.

Industries are the backbone of India that helps increase India’s economy by contributing a massive GDP percentage. All industries mentioned above are overgrowing, and it will, for sure going to boom in 2020-2030.

Also Check: Top 10 Industries in India

Bhanu Garg: