Trading is an important economic area, part of the service sector, the largest industry in India. The trading sector is responsible for making various products available to consumers. So, when you operate in this sector, you have the power to influence the market and have a pulse on what the people want.
Since inventory and swift response to changes in demand and supply are integral to trading, ensure that you have the necessary finances. Becoming a part of the trading sector is made easy with a business loan for traders. A specialised financial offering can help you get started or diversify your business with a flexible repayment tenor and nominal interest.
To get you started, here are some areas within the trading sector that you can operate.
Organic food and superfoods:
With rising health consciousness, higher disposable incomes and an expanding middle class, the market for organic foods is increasing. According to India Organic Food Forecast and Opportunities, 2019, the Indian organic food market is expected to grow at 25% CAGR till 2019. With high growth around the corner, now is the right time for you to invest in this sector. From organic fresh produce and staples to superfoods and superfood supplements, your options are aplenty.
Pet food and pet care services:
The pet food business is likely to cross Rs. 173,250 lakh by 2019, while other pet services like pet vacation facilities, insurance, psychology and grooming are projected to grow at over 20% by 2022. High disposable incomes are allowing people to spend on pet care. Further, with over 6 lakh pets being adopted each year, your success in this sector is highly likely. You can deal in specialised pet food, toys, grooming and other accessories.
Additional Read: 5 tips to manage working capital for your Manufacturing Business
Passenger vehicle sales crossed 3 million in 2016–2017, and the industry in itself grew by 9.23%. Besides, the number of luxury vehicles purchased is also growing courtesy of younger people joining the workforce at a higher starting salary and double-income households. Since owning a car is perceived as an extension of the owner’s personality, there is a huge scope for establishing a business in the auto care segment. Currently pegged at Rs. 20,000 crore, the sector is likely to grow to Rs. 34,000 crore by the end of 2020. Trading in spare parts, as well as auto accessories, can be a profitable venture.
The total size of the furniture industry in India is around Rs. 35,000 crore and is growing exponentially as the number of homebuyers increases, and the age of an average homebuyer reduces. At the moment, this growth is primarily fuelled by urban demand. So, there is a largely untapped market in the rural sector that you can access. So, there is ample opportunity for you to tap the market with good quality furniture at cheaper costs. If you want to start a business in the trading sector with a view of growing exponentially, use this information to your advantage. With the right business plan and funding, your firm is sure to be a success.
Additional Read: What is Trading Business
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