When you are working on a business idea, the first critical factor to check is the future scope of the industry you can going to invest in.
In the first quarter of 2020, the world witnessed one of the worst pandemics even that affects businesses worldwide. Indian economy saw a gradual downfall. But amid this downfall, there is a silver lining. When the pandemic begins to fade and finally leaves us, the post-COVID scenariocomes up with some potential benefits and paved the way for different sectors which have the potential to flourish in the coming years.
In this post, we are going to discuss the 6 fastest growing sectors in India that are expected to boom in 2025. Go through each sector and explore the right field for your business idea:
6 Fastest Growing sectors in India That are Expected to Boom in 2025
1. Software & Technology
It is no surprise that IT has emerged among the fastest-growing sectors in India and a significant area of hiring demands across the industries. As reported by the recent data, the demand for software developers has gone high by 25% post-pandemic.
The recent pandemic accelerated digitization for many sectors pushing them to go for cashless payments and other digital solutions. This move is inevitable, and hence the software & technology industry will surely flourish.
2. Healthcare
The last 2 years were quite a challenging period for the healthcare segment, however, the industry overcome every hurdle with advanced tech solutions and skilled professionals. The time ahead is indeed also promising as now, the industry is well equipped and planned.
As per Invest India research, the Indian healthcare sector is expected to reach $372 billion by 2024. Also, the hospital business in India accounts for 80% of the healthcare industry and it is expected to flourish by 16-17% to $132.84 by 2024. No doubt, it is one of the fastest-growing sectors in India.
3. Renewable Energy
After the two years of uncertainties, India’s renewable energy segment is expected to boom this year. It is one of the fast-growing sectors in India with an estimated investment of over USD 15 billion focused on solar equipment, manufacturing, green hydrogen, and accomplishing the ambitious 175 GW renewable capacity target.
Presently, India has around 150GW of installed renewable energy-producing capacity, to make it 175GW by 2024.
4. Automobile Industry
A sector that already contributes almost 7% of the nation’s GDP, is expected to grow by 12% after the COVID crisis. The automobile industry covers an extensive scope of those companies, including development, manufacturing, design, and vehicle selling.
It is estimated that the automobile industry will flourish by more than 3.5% by this year and it will be on a great boost shortly. Hence, the Indian market can become the market leader in the automobile industry in the next 10 years.
5. FinTech
FinTech industry was already growing rapidly with tremendous acceleration, doubling every two years. But after the COVID crisis, FinTech has become among the fastest-growing sectors in India.
When the globe was hit by the pandemic, FinTech became an essential commodity for all organization to stay afloat in these tough situations. The demand for financial market fluidity with advanced tech solutions facilitated the rapid adoption of FinTech Solutions.
While 2020 and 2021 were the year of FinTech acceptance, 2024 and beyond is the year of boom backed by continuous innovation and revolution.
6. Real Estate
The real estate industry is showing signs of recovery and is likely to boom in the coming months. With robust end-user demand and manageable market circumstances, the average income volume is likely to exceed the pre-Covid year’s average quarterly sales.
According to experts, digital marketing and online registrations would support coping with the situation. The development levels have already reached key property markets like Bangalore, Mumbai, Hyderabad, Pune, etc.
Bottom Line on Fastest Growing Sectors
While the expansion is not limited just to these industries; it will undoubtedly affect many other sectors of theIndian ecosystem. It will be significant to see how these transformations play out for the current situations and the wider population as the world is gradually returning to normalcy. Hopefully, you found this post helpful and interesting. If you need any kind of support in your business growth, let us know in the comment section below. We will be happy to help you.
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