As all business sectors are affected by the current global crisis and everyone is talking about a slowdown in business, there are still few sectors in India that will grow in this adverse situation. Let’s take a look.
No one can survive without basic foods like milk, vegetables, and clean water. Food processing companies will not be greatly affected and will rather profit by increasing prices. These are the basic needs that we, as a common man, cannot produce on our own.
According to MFPI, the food processing industry in India was experiencing growth even as the world was facing economic recession. According to the minister, the industry is currently growing at 14 percent compared to a growth of 6 to 7 percent in 2003-04. The Indian food market is estimated at more than 182 billion US dollars and represents approximately two thirds of the total retail market in India. . Furthermore, the food retail sector in India is likely to grow from around $ 70 billion in 2008 to $ 150 billion in 2025.
As the aviation sector has been hit hard and has led to a sharp increase in airline ticket fares, frequent travelers will prefer railways to reduce travel costs and this will lead to increased traffic on the railways and long lines at the train reservation desks. Indian rail freight traffic has continued to grow in recent months, albeit at a slow pace, indicating only a marginal impact of the global recession on the Indian economy.
Railways posted a 13.87% growth in revenue to Rs 57,863.90 crore in the first nine months ending December 31, 2008. While total freight earnings increased 14.53% to Rs 39,085, Rs 22 million during the period, passenger earnings increased 11.81% to Rs 16,242.44. crore. Railways have improved transportation revenue by increasing axle load, improving customer services, and adopting an innovative pricing strategy.
3. PSU banks
As seen in the private sector, much of the job cuts due to the global slowdown, is the power supply sector Banks that gained a lot of trust due to the safety and security of work. More and more people are likely to turn to government institutions, particularly banks, for safety and security.
A report “Opportunities in the banking sector of India”, by the market research company RNCOS, forecasts that the banking sector of India will grow at a compound annual growth rate (CAGR) of around 23.3 percent to 2011.
Since education is seen as a basic need and in India it is seen as a long-term investment by parents and with regard to demand, there is still a huge supply gap. The folly of studying at a foreign university among young Indians still living, which will drive foreign educational institutes to target India, provided a large young population willing to join. We will see more and more foreign educational institutions in India in recent years.
Huge government and private investment is likely to flow into the Indian education system. DE Shaw, a $ 36 billion global private equity firm, plans to invest around $ 200 million in India’s education sector.
People will not stop communicating with each other due to global crises but it has been seen to increase a lot, especially with mobile communication. With cheap mobile phones available in the Indian market and cheaper calling rates, the sector has become the necessity and the main necessity of everyday life.
Telecommunications sector, according to industry estimates, the year 2008 began with a subscriber base of 228 million and will probably end with a subscriber base of 332 million – a full century! The telecommunications industry expects to add at least another 90 million subscribers in 2009 despite the recession. India’s telecommunications industry is one of the fastest growing in the world and India is forecast to become the world’s second largest telecommunications market in 2010.
Recent news shows that India’s IT sector will grow between 30% and 40% next year. And on the other hand, to survive in the current slowdown, industries have to reduce cost and for that they will turn to customized IT solutions that will further drive the demand for software solutions.
India is fast becoming a hot destination for outsourced ezine work. According to a report by the Confederation of Industry of India (IIC), the industry is growing at an annual rate of 35 percent and India’s outsourcing opportunities in basic and value-added services such as text publishing , project management, indexing, media services and content. The implementation will help bring the BPO publishing industry to $ 1.46 billion by 2010.
7. Health care
India, in the case of sanitary facilities, still has an adequate supply. In the health sector there is also a huge gap between supply and demand at all levels of society. Still, there are so many urban areas where you could hardly find a multi-specialty hospital. And in the case of metropolitan areas, market sentiments themselves created a need for psychological consultation.
Health care, which is a $ 35 billion industry in India, is expected to reach over $ 75 billion in 2012 and $ 150 billion in 2017. The health industry is at a interesting position as it strives to emerge as a global center due to the many advantages it enjoys in terms of clinical excellence and low costs.
8. Luxury products
The upper and wealthy class of society will not be greatly affected by this global crisis, even if its value is significantly reduced. They will not change their lifestyle and they will not stop spending on luxury items. Therefore, the market for luxury goods will not be affected, and in fact, in order to maintain the lifestyle, the rich will spend more on it. Luxury automakers are coming to woo the nouveau riche (Audi, BMW are the newest entrants).
According to recent research on luxury trends, the number of families with annual incomes of more than $ 230,000 will more than double from 20,000 in 2002 to 53,000 by the end of 2005 and grow to 140,000 in 2010.
9. Marketing and M&A Consultants
As in today’s business slowing down survival will be the main focus, marketing and management consultants will be called in to cut costs and show ways to survive and stay in the market. Others may join together to fight this situation together they will call marketing and M&A consultants. In a booming market, there are growth strategies and M&A opportunities to advise on. When companies cut back, consultants will be there to help clients decide where to wield the ax.
According to the estimate of the Ministry of Commerce and Industry, the current size of the consulting industry in India is around Rs 10,000 / crore including exports and is expected to grow further at a CAGR of approx. 25% in the next few years
10. Media and entertainment
In today’s bad times, where people are losing their jobs and having enough time to watch TV, they will seek home entertainment and therefore advertising revenue will increase for commercial channels. Also businesses like the production of religious texts and religious materials, religious channels will work well. The TRP of the religious channels will increase compared to the other commercial / entertainment channels.
According to a report released by the Federation of Chambers of Commerce and Industry of India (FICCI), the Indian M&E industry is expected to grow at a compound annual growth rate (CAGR) of 18 percent to reach $ 23.81 billion. in 2012. According to the PWC report, the television industry was worth US $ 5.48 billion in 2007, registering a growth of 18 percent over 2006. In addition, it is likely to grow by 22 percent. percent over the next five years and is worth $ 12.34 billion by 2012.