Exploring India’s emerging industries
There are few things more exciting in business than exploring emerging markets. Whilst established industries offer opportunities to turn over huge amounts of cash and tap into an already thriving department of an economy, the biggest value is in new markets.
In this article we will profile three of India’s most exciting industries, including where they are at the moment, what the future might hold and the brands to look out for in each. We can’t guarantee you a path to certain fortune, but hopefully we can at least inspire you to learn more.
India already has its own sporting obsessions that have been established over hundreds of years. The nation’s love affair with cricket shows no sign of dissipating and the recent inauguration of the Indian Premier League (IPL) has made the sport even more attractive to players, sponsors, investors and supporters.
But the sporting sector in India is still swelling. After experiencing a tremendous boost of 10% in 2014, to a value of £480m, its growth has been supported by the expansion of the sporting goods marketplace. Sports management and agencies have also helped to support its economic rise.
With the value of the IPL last year hitting $6.8bn, it’s clear that there are already lucrative opportunities in the industry, and that’s without mentioning the explosion in popularity of esports, which saw a growth in prize money of 180% in India last year.
The gambling industry is another area to keep a close eye on, as India finds its place in the global marketplace. The regulation picture at the moment is complex, with the rules changing from state to state. Today you can visit casinos in Goa, Daman and Sikkim.
Online gambling remains in its infancy and continues to grow, despite an aborted attempt in 2010 to grant three online licenses in Sikkim. Despite those delays, India remains a huge target market for many of the major providers, with comparison websites in particular growing in prominence.
CasinoWings has launched in India, offering a list of online casinos that players can compare before signing up. New gamers can often snap up introductory offers to help make their first experience special, and this remains the focus of operators eager to grow their market here.
Gambling sits in the broader digital sector and in truth, there are opportunities throughout this industry. India is now home to the third-largest internet-literate population and registered more than 500m users two years ago.
But the total penetration of the internet in India is still under 40%, so it’s clear that there’s potential for further growth as more of the population gets access. There is a clear opportunity for investment here, and gambling is just one of the sectors aiming to capitalise upon that. The demand for tech will continue to grow, so there are opportunities for hardware manufacturers and we can expect to see more Indian brands on the marketplace, selling at home and abroad.
The start of a new decade offers exciting opportunities for emerging markets in India and, though plotting growth isn’t always so straightforward, these are three of the industries certainly worth paying attention to.