With a Laudable rapid increase in new business opportunities in Andhra Pradesh even after bifurcation, the exuberant economy of Andhra Pradesh accounts for Rs. 8,70,326 ( approx) in the year 2018- 2019.
Looking for highly profitable business ideas in Andhra Pradesh? Have a look at these.
Horticulture seems to be the best business in Andhra Pradesh, keeping in view the arid and tough climatic conditions. Though agriculture is the predominant occupation in Andhra Pradesh many seem to part their way because of adverse climatic conditions.
Horticulture has many advantages, firstly it can deal with arid conditions and it is more remunerative. It can be done on small landholding boosting smaller farmers and by this, you can maximize the yield by planting two or more crops on the same acre of land plus the water utilization is lower making it cost-effective yet profitable business ideas in Andhra Pradesh.
2. Processing Units
Food processing units play a major role in delivering the final product to its consumers. There are many agricultural crops that cannot be consumed in its pristine form.
For example, wheat is transformed into flour, bread, biscuits, atta Maggi, etc for our final consumption, similarly, seafood is processed, packaged to increase the shelf life of the product and that’s when food processing units become indispensable.
You can also open up small scale industries in Andhra Pradesh to reap big profits.
3. Sheep Farming
Sheep farming business has got the backing of the State government with a slew of subsidies and loan schemes. It is profitable business Ideas in Andhra Pradesh as you get to multiple sources of income from one business which is wool, meat production, and fiber.
The climatic conditions of Andhra Pradesh are conducive to sheep rearing, also the rising consumer demand has spurred these business ideas in Andhra Pradesh. It is a highly profitable business.
State of Andhra Pradesh houses many historic masterpieces, forts, architecture, museums, art galleries, scenic valleys, hills stations, national parks and wildlife sanctuaries that entice both domestic and global tourists.
The state also offers religious destinations like Tirupati Balaji temple, kanipakam temple, srikalahasti temple, Ahobila, etc that attracts devotees and pilgrims from all over the country.
You can operate a travel agency to make the travel of tourism comfy and convenient or you can offer guide services, lodging service, etc. There are many new business opportunities in Andhra Pradesh with the rise in increasing government initiatives for the betterment of the tourism industry.
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Andhra Pradesh enjoys the advantage of its strategic location with Bay of Bengal in the east. The state contributes a significant portion of fisheries production. In 2018, it contributes 43% of the total export of seafood in the country.
Also, the state is aiming at making itself an aquaculture hub by promoting inland and offshore fish farming. It has a lot of untapped growth opportunities. You can also engage in fishery business by opening up these small scale industries in Andhra Pradesh.
6. Cold storage facility
To ensure that the fishery industry realizes its full potential, it is of utmost importance that proper cold fridge store facilities are provided.
It is the lucrative business ideas in Andhra Pradesh as the need for cold fridge storage facilities arises right from the farm place until the fishes are transported to processing units or the domestic market.
It does require initial capital investment but once invested, the returns from this best business in Andhra Pradesh are unparalleled.
7. Medical Tourism
Tourism offers small scale industries in Andhra Pradesh good growth opportunities due to the state’s untapped potential. Medical tourism involves people traveling to foreign countries to obtain medical treatment.
Presently the business is in its nascent stage and has enormous potential to grow given the affordability of medical treatment. This presents new business opportunities in Andhra Pradesh.
8. Forest resources
In Andhra Pradesh, the total forest area accounts for 63813.73 square kilometers. In terms of forest cover, the state is the third-largest state in the country.
These forests are rich sources of many forest items like myrobalan, bamboo, rosewoods, Beedi leaves, soap nuts, tamarind, neelavema, etc.
These resources have great demand in many small scale industries in Andhra Pradesh dealing with these products. Do the market research and get equipped with the necessary knowledge required, once you can get the strings of this business, returns will sink in. These are financially promising business ideas in Andhra Pradesh.
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The business involves the cultivation of silkworms for the production of silk. There are many complexities involved in engaging this business. The task of production of silk is eased out because of the favorable climatic conditions in the western Mandals.
You also have to pay attention to the silkworm food, that is, mulberry trees. Critical handling and periodic food feeding have to be taken care of. It is a highly profitable business, to give perspective on the price of one kg silkworm cocoon is around Rs. 400- Rs. 450. This has given a boost to a lot of allied services. For beginners, these are new business opportunities in Andhra Pradesh.
10. Textile Business
Being the second-largest producer of cotton and silk, the state is home to many well-established textile mills. The sector contributes about 14% to industrial production and 13% to the total export of textiles from the country.
There are many textile-based industries like cloth weaving, spinning mills, hosiery, etc. You can also open up your independent small scale industries in Andhra Pradesh and can also engaging in any specific art of knitting or weaving.
With the advantages of the skilled labor force, modern technology, robust infrastructure has made it the best business in Andhra Pradesh.
11. Organic Food Store
The agriculture sector is the predominant occupation of Andhra Pradesh. One of the new business opportunities in Andhra Pradesh is opening an organic food store.
Growing health concerns has accelerated its demand in the modern-day world. Organic produce is grown with natural fertilizers, weeds are controlled naturally, pests are controlled naturally as opposed to the use of synthetic fertilizers, chemical herbicides, and synthetic pesticides in the case of conventionally grown food crops.
These offer fresh and nutrients filled fruits and vegetables. In addition to this, organic meat, dairy products, and eggs are also produced.
Organic produce is sold at higher prices as compared to conventionally grown produce. These open up new business opportunities in Andhra Pradesh.
So these were the top 11 small scale industries in Andhra Pradesh.