With a population of over 1.3 billion, and a purchasing power parity of $9.4 trillion, India has one of the top ten largest economies in the world. Within the last few years, Indians have become more and more connected to the global economy through the advancement of technologies and near ubiquitous access to the internet.
As access continues to reach even the most rural of India’s 1.2 million square miles of landmass, e-commerce begins to bloom. In 2019 and beyond, India expects to see a growth of $51.2 billion in e-commerce revenue by 2023. If you’re keeping track, that’s an impressive growth from the $18 billion collected in 2017.
Tech and online businesses are booming, and here are the top businesses to keep an eye on in 2019. These six businesses are already making a name for themselves but may well become household staples in the future.
Adult Products India
Historically, selling sex toys in India could land a business in quite a bit of trouble, but Adult Products India believed in free choice and sexual expression. Established in 2010, the company has been slinging sexy accessories online with formidable success. While attempting to create a sex toy startup in India came with a huge amount of risk, Adult Products India has seen their venture pay off. Sales have continued to increase and with India on the verge of a sexual revolution, the company has nowhere to go but up.
PlanetSpark aims to improve conventional learning models currently available to the pre-teen youth. Enabling young children to easily connect with qualified tutors and mentors through their app-based program, the company hopes to make future generations fall in love with learning through the clever use of games and cartoons. Bringing old school smarts into the tech savvy world. At the same time, the company aims their tutoring spots at homemakers, giving many women in India the opportunity to become entrepreneurs.
IndiGo is India’s dominant air carrier, that overshadows much of the aviation market. IndiGo holds a 42% share in the market and plans to continue to dominate. They are adding over 400 new planes to their already impressive fleet and are continually updating their app and online presence to increase cyber sales. These advances hope to take them into the top spot of low-cost airlines in Asia. Currently the airline hosts flights to 66 destinations, 15 of which are international. Considering the company was founded in 2006, this is an impressive rise to success in such a short time period.
It’s hard to get very far in any news feed without seeing how important healthcare cost has become to contemporary society. Which is something that a number of new startups have taken notice of. Medika Bazaar has taken the hint and created a novel way for medical institutions to achieve greater operational efficiency. Medika bazaar has found a way to reduce the burden of medical costs by supplying equipment to hospitals and clinics. Their system can hospitals in saving 15-20% in operational costs. Making them almost as in demand as healthcare itself.
BetterPlace aims it’s services at the blue collar workforce of India. Providing them with a digital platform in. Which they can increase their skill levels and employability, saving them from exploitation and destitution. Around 450 million people in India are classified as semi-skilled or unskilled. Changing the future of these individuals is not only a massive boon for them, but can also dramatically improve the economy. Creating access to things like credit, healthcare, homeownership, etc. BetterPlace has enabled over 2 million people to procure the careers that they are passionate about, which is the best place of all.
Talk of going green and improving sustainability methods has hit received much needed global attention. Plum hopes to revolutionize the face of beauty and self-care products for the world. The company has created an inventive and caring line of personal products that are 100% vegan, without harsh chemicals, and are totally cruelty-free. Plum also hopes to continue on their journey to becoming fully sustainable by offering its customers greener packaging, voluntary recycling of empty containers, while still respecting individuality and diversity. Hoping to make the whole world a greener and happier place.