Best Manufacturing Franchise Opportunities in India for 2020-2021
On May 12, 2020, the former prime minister of India Narendra Modi, introduced the latest concept of Aatmanirbhar Bharat ( Self-reliance India) the motive of the Prime Minister behind introducing such a coherent Aatmanirbhar policy was to reduce the over-dependency on other countries in terms of imports and start generating efficiency to make India a self-sufficient country. One of the largest sector India focuses on to push self-reliance policy was the manufacturing sector. The government began targeting the immense growth in the manufacturing sector and set a pioneering goal to create 100 million jobs by the end of 2022 through its “Make in India” initiative.
At present India’s manufacturing sector has a size of 905.18 KB as per ibef analysis. Through India’s self-reliance policy India is all set to become one of the largest hubs in the manufacturing sector. Many notable Indian companies and start-ups are willing to take the initiatives for promoting the leading growth in the manufacturing sector. But wasn’t the manufacturing sector affected by the current horrific pandemic crisis?
COVID-19 and Its Impact on Manufacturing Sector:
India’s manufacturing sector was making lucrative progress each month and was promptly leading, but since the global pandemic started spreading like a wildfire in India, the nationwide lockdown adversely affected the manufacturing sector and showed a declining ratio in production level. Due to the lockdown, various emerging manufacturing plants were shut down, and lower production led to lower sales and eventually awful losses. Many laborers and distributors lost their jobs and the unemployment rate started increasing. 30% of the manufacturing sector consists of automotive manufacturing, and due to the harsh pandemic crisis, the mass production in automotive was declining by 50% even the consumer demand started showing a shift.
But since the lockdown started unlocking, steadily various manufacturing plants were re-opening too. But did the re-opening of production assist recovery in the manufacturing sector in India?
Growth of Manufacturing Sector in India 2020:
April was one of the most disgraceful month for the manufacturing sector as the loss was unbreakable. After four consecutive months of lockdown, the manufacturing sector in August 2020, finally started recovering and is now heading towards streamlined growth. The production and new projects from various automotive, healthcare, and food industries began reviving, and the consumers’ demand too started growing for the necessary commodities. As per the IHS Markit, India’s manufacturing purchasing index escalated to 52 from 46 that enhanced rapid progress. Employment preservation began emerging in manufacturing sectors, and many unwaged laborers regained their employment. At present, the manufacturing sector in India has promising possibilities to reach $1 trillion in growth by the end of 2025. Such a gigantic recovery is possible due to the growth in other sectors. Amid the pandemic, many business platforms in India were learning the art of adaptation, numerous platforms adapted amid such a dreadful condition and reclaimed their growth, but many such sectors require processed products for the execution of the sale. And that’s how the manufacturing sector got another light to fade the darkest loss and start growing in India. Now, when the manufacturing sector is showing such a prominent growth it’s the right time to invest in manufacturing franchises and capture a worthwhile profit.
Why Invest in Manufacturing Business?
India is the second-largest ecosystem for start-ups worldwide, more than 50% of such start-ups are technology-based and require various electronics and tech-based products to commence their operations. That is why electronic product manufacturing is one of the largest manufacturing growth India has been witnessing. As per the analysis, the electronic product manufacturing industry is likely to grow 27.96 lakhs by the end of 2020. Apart from the automotive sector, many sectors are generating their versatile and pioneering operations and projects. Apart from this, various companies require numerous laborers and employees to carry out innovative production plans. By investing in such a versatile manufacturing franchise business, there will be a burst in employment opportunities in India. Mass manufacturing will lead to an increase in the availability of raw material and equipment, through which many companies will utilize such material and lengthen swiftly. In other words, investing in manufacturing franchises will help India to transform itself as a self-reliance country in the global market.
Profitable Manufacturing Franchise Opportunities in 2020-2021:
To be a part of a leading sector in India, the best way to show your roots is to grab one of the growing manufacturing franchises in India. let us have a look at one of the most profitable manufacturing franchise opportunities in India in 2020-2021.
Genie Carpet Manufacturers Franchise:
Genie Carpet manufacturers produce various types of hand-knotted rugs and carpets, they create unique and elegant looking carpets, and they also export across the global platform. The company has a well-structured supply chain of various products that are taken care of by the company’s well-skilled craftspersons. The company is one of the emerging products and service chains in manufacturing, export, supplier, distributor, handmade eastern rugs, handmade sophisticated carpets, and wide ranges of custom rugs. The company also manufactures broadloom carpets and floor covering carpets in India. The company has the widest collection of rugs that have aesthetic colors and are made from quality-based raw materials. Genie Carpet manufacturers provide pioneering franchise opportunities in India.
Investment: 50,000 to 1 lakh
Space: 500-750 sq ft.
ML Textile Franchise:
ML Textile produces quality-based flooring products that are made as per today's tradition and enhance the innovative design of the products. The company has won the best award due to its unique and sophisticated designs. The company strictly practices eco-friendly production to enhance renewable sources products that can be recycled. In India, the company does mass production of blankets and cotton doormats and supplies them across the nation through its wholesale and supplier chain. At present, the company is also manufacturing surgical masks, 2 play face mask, N95 mask, and other products that act as a shield and provide safety. The company has an emerging growth due to its turnkey operational business concept. To own a franchise of such an ardent business platform would be a beneficial choice one can make.
Investment: 2-5 lakh
Space: 500-750 sq ft.
Cosmic System franchise:
Cosmic System produces a government-approved water conditioner that covers hard water into soft water without utilizing any power, their latest and brand new product was created on Nanotechnology. The company's expanding portfolio consists of power conditioning, UPS, servo stabilizers, solar inverters, water purification, and demineralization. The company has a well-organized and expert team consisting of entrepreneurs and technologists that have several years of experience in their fields. The company aims on creating products that are highly reliable and affordable in India.
Investment: 1-2 lakh
Space: 250-500 sq ft.
Sanskritikk is one of the leading companies that manufacture handicrafts products and supplies them all over India. the company produces many creative and sophisticated products such as wooden gemstone, iron wall hanging, clock hanging, terracotta decorative, and many other innovative handmade products. Due to the company's well craftsperson dedicated and quality based creativity, the company has been expanding in India at a swift rate.
Investment: 10-15 lakh
Space: 1000-2000 sq ft.
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Written By: Moni Evangilin
Written By: Yukta Palekar
Written By: Shivani Kumari
Written By: Yukta Palekar