Odisha generates most of its income through agriculture, which is now slowly transitioning towards the business sector. Other well-established industries that contribute substantially to the state’s economy are manufacturing, mining, gas, electricity, water supply, and construction. The Gross State Domestic Product (GDSP) is estimated to be Rs 5,86,000 crore in 2021-22, making it one of the best places to start a business.
From tourism, hotels and restaurants, transportation to insurance, and other financial services, businesses can prove to be profitable in Odisha. Following are the top business ideas in Odisha village:
1. Candle making
This is one of the best small-scale businesses. Traditional white candles, scented candles, decorative candles, there is a high demand for all types of candles. Since the raw material is readily available in the local markets, this business does not require a lot of investment.
With the right knowledge and skills, you can start this business from anywhere, even your home. Contact multiple gift shops, wholesalers, grocery stores, or any place with a high demand for candles. Sell your candles locally in the initial days and at a lower price than your competitors. Once you have developed some good connections in the market, increase your rates.
2. Cashew Nut Processing Business
Odisha is known for its cashew production, and therefore, there is a high demand for cashew nuts in the state. Cashew nuts offer numerous health benefits, and this is another reason for its increased demand. Before you start this business, make sure to understand the market. Cashew nuts are not consumed raw, so they need to be processed appropriately.
Depending on the availability of raw materials, choose the location where you will start your business. Since the demand for cashew nuts is more than the supply, this business can help you gain a massive profit
3. Jute Bag Making
This is another profitable business idea. Since jute is used to make many items, such as bags, chairs, and tables, it is an essential part of day-to-day life. Odisha is the third-largest jute producer in India. The raw materials required for this business are easily available in the state.
This business takes a small investment, but you can earn well with the correct planning and proper execution.
4. Solar Energy Business
With a tropical climate, Odisha is extremely hot throughout the year. Using solar energy, you can easily supply electricity at a very affordable price. This business is already considered one of the most profitable across India and is operating successfully in many states, such as Punjab.
As more and more states are adopting this method, its demand will be high in the future as well. With a low investment, this business offers high profits.
5. Handicraft Business
Odisha is worldwide famous for its handicrafts, and this is one of the best ways to make some money. The most famous handicrafts in Odisha include terracotta and pottery, silver filigree, horn works, tribal jewelry, brass and bell metalware, stone and wood carvings, golden grass and cane work, and puppets.
Start by selling your products online. You can also get in touch with exporters, collaborate with them, and make your brand international. Once you have gained some name in the market, you can expect an increased demand and high returns.
Boasting several temples, relaxing beaches, scenic beauty, wildlife sanctuaries, magnificent waterfalls, and historical places, Odisha has a lot to offer. Despite being an ideal holiday destination, the tourism industry in Odisha is lagging and does not have proper facilities and arrangements for tourists.
You can become a tourist guide, a housekeeping director, an executive chef, or a tourist photographer. These business ideas require low investment and give you an opportunity to interact with new people, explore different places, and learn something new every day.
7. Food Delivery
Apart from Bhubaneswar, the food delivery system in Odisha is not very satisfactory. You can start this business by making a list of all the areas you want to cover and then make some contacts there, get in touch with well-known restaurants and hotels.
You can also develop a food delivery application to strengthen your online presence. Once you have done all that, make sure your service is up to the mark.
The aforementioned business ideas require low investments but can yield high returns. With proper use of raw materials and the right execution, these ideas can help you earn handsomely. However, starting a business can be a difficult task. To smoothen this process, you can use Vyapar. Helping you create GST bills, track payments, and offering various other services, Vyapar helps you manage your entire business.
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