Odisha has an agriculture-based economy which is in the transition towards industry and service-based economy. According to Dun & Bradstreet, the GSDP is expected to grow at a rate of 8.1% during 2015-2020. In Odisha, the primary industries are manufacturing; mining and quarrying; electricity, gas and water supply; and construction. The service sector contributed an estimated 51% to the GSDP in 2014-15.
The primary sub-sectors are the community, social and personal services, tourism, trade, hotels and restaurants, financial and insurance services, transport, storage, and communication. The state has a well-developed banking network compared to many states of India.
There is one bank branch for every 12,000 people. Here in this article, we intend to explore 10 trending and profitable business ideas in Odisha according to the market opportunity. This list of small business ideas in Odisha are low cost and can be operated as small scale basis.
List Of Top 10 New Business Ideas In Odisha
#1. Candle Making
Any individual can initiate candle making a business from home. Apart from the traditional white candle, scented and decorative candles have high demand. Start selling locally. Candle making raw materials are available at the local wholesale market. Decorative candles have a huge market as a gift item. Contact gift item retailers and sell the candles consignment basis. Crafts fair are the best place to sell your decorative candles. Read More…
#2. Car Rental Business
The tourism industry is developing very fast in Odisha. Also, the growing industrialization has created a demand for car rental service. Car rental is one of the most legitimate business ideas in Odisha. The primary operation would involve scheduling customer reservations and supply rental car. A car rental business in capital and management intensive business. It needs a lot of research before you go into the market. Read More…
#3. Cashewnut Processing
Odisha is popular for cashew production. This is an important cash crop in Odisha. A cashew processing unit is one of the most profitable business ideas in Odisha. Small-scale cashew nut processing can be initiated at any location, considering the availability of raw materials. The demand for cashew nut is increasing, whereas its supply is limited. This is a best food processing business in Odisha. Read More…
#4. Computer Training Institute
The state’s capital city, Bhubaneswar, is emerging as a knowledge hub in India with several new public and private universities, including the establishment of an Indian Institute of Technology. Computer training institute is an ideal business for the aspiring computer-savvy professionals in Odisha. Running a computer training institute with other value addition services can be a profitable and self-rewarding business. Read More…
#5. Diagnostic Center
An individual having experience in laboratory science can initiate diagnostic center business with substantial capital investment. Diagnostic center with pathology is one of the most profitable business in medicine and pharma industry. Heightened physician awareness and increasing patient requirement to avail of high-quality care, have increased the demand for the good quality diagnostic center. Read More…
#6. Ecotourism
In Odisha, there are many Eco Tourism places where one can get completely devoted to nature’s beauty and have a peaceful mind when one goes back. Some such places are TikarPada, Gahirmath Turtle sanctuary Chilika Lake, River Beds, national Parks , and Debrigarh Ecotourism. Ecotourism is one of the most viable business ideas in Odisha. Read More…
#7. Embroidery Unit
Handloom Sector next to the agriculture provides massive employment to the rural artisans. So far as our State is concerned, it has a rich tradition of producing handloom products. Even the skill and knowledge imbibed over the generation has given the state hand woven textiles an unparalleled depth, range, strength, and vigor. Handloom cloth is one of the richest and resilient medium of ethnic expressions. An embroidery unit is one of the most legitimate business ideas in Odisha to start with moderate capital investment. Read More…
#8. Fruits Vegetables Export
Odisha certainly has huge potential in exports, especially in the micro, small, medium enterprises (MSME) sector. Odisha has huge potential in handloom, textiles, handicrafts and agriculture products. Fruits and vegetables export with other allied products are one of the most profitable business ideas in Odisha. Any export business demands adequate knowledge about foreign markets. Read More..
#9. Jute Bag Making
Odisha is the fourth largest producer of jute after west Bengal, Bihar and Assam. Rice and jute, compete with each other as they require almost similar soil and climatic conditions. Cultivation of jute is primarily confined to the coastal plains of Cuttack, Balasore, and Puri districts. According to the raw material availability, jute bag making is one of the most legitimate business ideas in the state. Manufacturing process is quite simple.
#10. Liquid Soap Making
Liquid soap is considered as consumer durable item. Increasing health awareness and disposable income are the two major reason of increasing the demand for liquid soap. Liquid soap making business includes a wide range of processing, packaging, and marketing operation. The business also demands extensive market research and marketing strategy. Read More…
Here we have compiled 10 most profitable small business ideas in Odisha. It will help an entrepreneur in taking a decision in starting a startup company. If you have any good business ideas in Odisha, you may post that on our social media platform.
