Blog Page 340

How to Increase Home Loan Eligibility – Tips & Tricks

Home Loan Eligibility

Home Loan Eligibility plays an important role while availing a home loan. It helps you to make yourself aware of how much finance you can get from the bank. It also helps you to understand your standing compared to the lender. If your position is better you can negotiate terms and conditions as well as the interest rate for a home loan. There are multiple factors that affect your home loan eligibility. If you are planning to go for a home loan you should know about your Home Loan Eligibility and ways to improve your eligibility. In this post, I will share Top Bank Home Loan Eligibility Criteria. I will also help you in increasing your eligibility with tips and tricks.

What is Home Loan Eligibility?

Eligibility of Home Loan means how much home loan you can get from the bank? There are multiple factors that decide your eligibility. Some of them are your financial situation, monthly income, your profession, employer, your age, credit rating, location property etc.

The monthly income is one of the most important factors in deciding your eligibility for loan. If you are earning good, you might be able to get a higher loan amount. The maximum loan amount is in the range of 75% to 90% of the property value.

Top Bank Home Loan Eligibility Criteria

SBI Home Loan Criteria

Eligibility Criteria Salaried Self-employed
Age 18- 70 Years 21- 70 Years
Income ₹1,20,000 p.a. ₹2,00,000 p.a.
Loan Amount Offered Customized Customized
Tenure 30 Years 30 Years
Current Experience 2 Years 3 Years

 HDFC Home Loan Criteria

Eligibility Criteria Salaried Self-employed
Age 21-60 Years 21-65 Years
Income ₹1,80,000 p.a. ₹1,80,000 p.a.
Work Experience 1 Years 5 Years
Loan Amount Offered ₹ 15 Lakh to ₹ 10 Cr
Tenure 30 Years 30 Years

 ICICI Home Loan Criteria  

Eligibility Criteria Salaried Self-employed
Age 21-60 Years 21-60 Years
Income ₹3,00,000 p.a. ₹3,00,000 p.a.
Work Experience 2 Years 5 Years
Loan Amount Offered ₹ 15 Lakh to ₹ 10 Cr
Tenure 30 Years 30 Years

 How to Increase Home Loan Eligibility? – Tips & Tricks

Following factors will help you in enhancing your eligibility of home loan –

  • Good Repayment History
  • Good Credit Score 750 and above
  • Regular Income
  • No loans for credit card dues
  • Working Spouse as Co-applicant

Few tips and tricks to enhance your eligibility for home loan are given below.

Clear your existing loans – If you are already repaying your older loan it is recommended to clear your existing dues before applying for the loan. The lender assesses your eligibility for a loan based on your debt to income ratio. The debt to income ratio means the percentage of your total monthly income that goes in paying your monthly debts.

Improve your Credit Score – Credit score plays a crucial role in deciding your loan approval and loan amount. Every time you apply for the loan bank or financial organization checks for your credit score. If your credit history is good you are likely to get a higher loan amount. Good credit score also leads to low home loan interest rates offered. There are multiple ways to improve your credit score. You can boost your credit score via 7 different ways.

Go for Joint Loans – Another option to increase your eligibility for a home loan is to apply with a joint name. If working spouse or spouse with good credit score is added as a co-applicant EMI affordability increases. This leads to higher loan amount sanction or lowers interest rate loans.

Opt for Longer Tenure – One of the most common ways to increase your eligibility for home loan is opting for longer duration loan. As and when you increase your loan tenure it indicates that you have a longer time to repay the loan. Lender see this thing positively as it increases possibility of timely payment and reduction in the risk.

Additional Source of Income – You can show additional source of income and increase your eligibility for home loan. The additional income could be rental income, part-time business income, rent from equipment or other sources. You need to show valid proof such as bank statement or records for this. As it directly improves your financial health you are likely to get loan of higher amount.

Consider Step up Loans – Step up loans is better option for people with lower salary. In this loan you will pay lower EMI in the initial year. The EMI amount increases gradually and step up at the later stage. In the step up loans your eligibility of getting higher loan amount is more.

Over to you –

Buying a home is one of the important financial decision. So, don’t be in a hurry to apply for a home loan. Do your own research before applying for the home loan. Check for your CIBIL score, compare all available home loan options and check your eligibility before applying for a home loan.  You can use tips and tricks given above to increase your loan eligibility.

Offshore Funds – Should you invest in Offshore Funds?

Offshore Funds for Investment

Offshore funds are types of mutual funds that invest in the international market. Offshore funds are popular as overseas funds or International Funds. These types of funds invest in the equity and debt markets of a specific country or region. These types of funds invest their money directly or via funds of fund. If you have surplus money and you are looking for diversification you can take a look at the Offshore Fund.

offshore funds

Offshore funds allow investors to select funds based on geographies such as USA, UK, Europe, Japan, Brazil etc. It also allows theme-specific investments such as agriculture, power, real estate, mining etc.  Few funds restrict the investment to some geography, while others are global funds which invest money globally.

Indian Investor can invest in these types of funds. Investment should be done with rupee denomination. The method of investing in this fund is the same. You need to submit the application form along with a cheque. Alternatively, you can also make an investment online.

There are many reasons to invest in the offshore fund. Few compelling reasons are given below.

  • Investors who are looking for diversification of portfolio and ready to invest in the international market.
  • Investors who want to take advantage of the exchange rate difference.
  • The domestic market is not performing well and the global market is expected to perform well.

Also Read – Best Stocks for Long Term Investment in India 2019

Benefits of Investing in Offshore Funds

There are multiple benefits of investing in offshore fund. Few of them are mentioned below.

  1. You can get exposure to invest in global market different geographies and different investment instruments.
  2. You need not to bother about selection of stock because mutual fund manage your investment in the international market.
  3. You can benefit of investing in global stocks such as Apple, Amazon, Google etc.
  4. If global economy is performing well compared to domestic economy you can get higher returns.
  5. You can get advantage of exchange rate benefit between the two economies. This means if you have invested in fund that is based at USA. You will get benefit if dollar appreciate and rupee becomes weak.

Risk for Investing in Offshore Funds

Currency Risk

International investment is prone to currency risk. Fluctuation in the currency conversation rate affects your investment. For example, If you have invested in US-centric fund and if the dollar becomes weaker your return will be affected negatively.

Country Specific Market Risk

These types of fund are prone to country specific market risk. Any change in the economic policy, tax laws and polices affects your investment. You need to be vigilant for the offshore economic conditions.

Should you invest in Offshore Funds?

You should go for offshore funds only if you have surplus money and you are looking for diversification.

Looking at the current economic condition and political stability the Indian market is in much better condition. It does not make sense to invest in other economies such as USA or Europe. India is a growing economy and developing country you should consider investing your money in India.

If you want to allocate a small portion of your money in offshore fund make sure to consider your financial goal, risk appetite and investment horizon before investing. In addition to that consider following things before investing in offshore fund.

  • Carry out research on economic and political conditions of the country where you are planning to invest your money.
  • Only allocate small portion of your money in these funds.
  • Don’t go for country specific fund. Always select a fund with exposure to global opportunities.
  • Make sure to consider currency risk while investing these type of funds.
  • Invest only in the fund of emerging market and developed market.
  • Make sure to check fund reputation, historical returns and financial background of fund house before investing.

Do you invest your money in Offshore Funds?

Do share your experience in the comment section given below.

7 Best Term Insurance Plans in India 2025

Which are Best Term Insurance Plans in India? How to select the best term insurance plans in India? Let’s select the best life insurance investment plans in India by doing a comparison of features and claim settlement ratio.

Let me start this post with the famous saying of Michael J Fox – “Family is not an important thing, it’s everything”. So, if you care for your family, you should buy an insurance policy (term plan). Term plan provides financial assistance in case of an unfrozen event.

best insurance plans

Buying the term insurance plan is an essential requirement for every human being. Term Insurance plan provides higher risk coverage at a lower cost. If you are not insured or planning to buy insurance, you should go for a good term plan. However, it is a difficult task to identify the best term plan. There are 24 life insurance companies in India and all of them offers similar types of term insurance policies. The chances are very high that you will get confused while selecting a term plan. In order to help you, I am herewith 7 Best Term Insurance Plans in India 2024-25

Also Read – 15 Things to consider before buying Online Term Plan

What is a Term Insurance Plan?

Term Insurance Plan is a pure life insurance policy. Term Insurance means an agreement between insurer and policyholder. In this policy, the insurer will pay the fixed sum assured to the nominee on the death of policyholder. If policyholder survives policy term insurer will not pay anything.

In certain term plan, policyholder can select how death benefit will be paid to the nominee. The payment could be either lump sum or monthly.

What are the benefits of a Term Insurance Plan?

There are multiple benefits of Term Insurance Policies. Details are given below.

  • A term insurance policy provides higher risk coverage at a lower premium.
  • Your nominee will get lump sum amount in the event of sudden death.
  • You can opt for an additional sum assured benefit in case of accidental death.
  • Term insurance plan takes care of the family in case of disability or critical illness.
  • One can get a lump sum amount if diagnosed with a critical illness.
  • You can avail tax benefit for the paid premium amount.
  • If opted, one can get supplementary income in case of loss of income due to accidental disability or illness.
  • An online option is available. It can be purchased easily without the help of an agent.

Types of Term Insurance Plans in India

Standard Term Plan – Under standard term plan the person get life coverage against payment of the premium amount. It is a pure term plan where the premium is paid annually.

Increasing Term Insurance Plan – Increasing Term Insurance Plan similar to standard term plan with regard to premium payment and policy term. Only change is sum assured (insurance coverage) increases with age of policy holder.

Life Stage Term Plan – Life stage or Event Term Plan allows policy holder to increase the coverage on your significant life stages.

Group Term Insurance Plan – Group Term Insurance Plan is offered to a group of people. The group term plan provides the same coverage to an individual covered under this plan.

Convertible Plan – The convertible plan is saving cum insurance plan. This plan allows insured to convert this plan in endowment policy at a later stage.

Single and Joint Life Term Insurance Plan – Joint Life term insurance plan is offered to two individuals usually married couple. Joint Life Term Insurance Plan workout to be cheaper compared to an individual policy.

Offline and Online Term Plan – The plans which are sold online are known as online term plan and plan that is available offline is known as offline term plan.

How to select the Best Term Insurance Plans in India?

To shortlist the best-term insurance plans, I have checked the following parameters.

Comprehensive Coverage

When evaluating term insurance plans, it’s essential to look for policies that offer comprehensive coverage. The true value of a term plan lies in its ability to provide financial protection to your family in case of your unfortunate demise. Opt for a plan that covers a wide range of scenarios, including natural and accidental deaths, to ensure that your loved ones are shielded from various uncertainties.

Affordability

While comprehensive coverage is crucial, the affordability of the term insurance plan is equally significant. Striking a balance between coverage and cost is vital to ensure that the plan remains sustainable for the long term. Look for policies that offer a reasonable premium while still providing the necessary coverage. It’s advisable to leverage online tools and calculators to compare premiums across different insurers and find the most cost-effective option.

Claim Settlement Ratio

The claim settlement ratio is a key indicator of an insurer’s reliability. This ratio represents the percentage of claims settled by the insurance company against the total number of claims received. A higher claim settlement ratio indicates a more efficient and customer-friendly insurer. When selecting a term insurance plan, prioritize companies with a consistently high claim settlement ratio to ensure a smooth claims process for your beneficiaries.

Policy Tenure and Flexibility

Consider the policy tenure and flexibility offered by the insurance plan. The ideal term insurance policy should align with your financial goals and obligations. Opt for a plan that allows flexibility in choosing the policy duration, ensuring that it meets your specific needs. Additionally, look for features such as the option to increase coverage during key life events like marriage or the birth of a child.

Customer Reviews and Feedback

In the digital age, accessing customer reviews and feedback has never been easier. Leverage online platforms to gather insights into the experiences of existing policyholders with different insurers. Customer reviews can provide valuable information about the ease of the claims process, customer service quality, and overall satisfaction levels. Opt for insurers with positive reviews, as this is indicative of a trustworthy and customer-centric approach.

Financial Stability & Reputation of the Insurer

The financial stability of the insurer is a fundamental factor to consider when selecting a term insurance plan. A financially sound insurer is better equipped to fulfill its financial commitments, ensuring that your beneficiaries receive the intended benefits without delays. Evaluate the insurer’s financial ratings from reputable agencies to gauge their stability and reliability.

Premium Amount 

Premium amount is next factor for the comparison. The shortlisted plan for the comparison of premium amount are given below.

  1. LIC e-Term Insurance Plan
  2. ICICI Prudential iProtect Smart Term Plan
  3. HDFC Click 2 Protect 3D Plus Term Plan
  4. LIC Jeevan Amar Term Plan
  5. Max Life Online Term Plan Plus
  6. SBI Life eShield
  7. LIC Tech Term Plan

Suppose 30 years old healthy nonsmoker person opt for term plan of 1 Cr for the term of 30 years without any riders. The premium amount comparison for above case is given below.

Plan Premium Amount
LIC Tech Term Policy 11007
LIC e-Term Insurance Plan 14600
ICICI Prudential iProtect Smart Term Plan 8279
HDFC Click 2 Protect  3D Plus Term Plan 11000
Max Life Online Term Plan Plus 8378
SBI Life eShield 9400

7 Best Term Insurance Plans in India 2024-25

#1 LIC Tech Term Plan

LIC Tech Term Plan is first in the list of best term insurance plans in India. LIC Tech Term is non-linked, non-participating pure online term plan. It is pure-term plan. It means in case of unfortunate death of policy holder during policy term nominee will get sum assured. If policy holder survives policy term nothing is payable. You have option to go for level sum assured and increasing sum assured option under this plan.

  • LIC Tech Term is pure term plan that can be purchased online only.
  • Premium of this policy is comparable with other term plans available in the market.
  • Minimum sum assured is 50 Lakh and maximum coverage age is up to 80 years.
  • Optional Accidental rider available.
  • Diffrent premium rates for women and non-smoker.
  • Level sum assured and increasing sum assured option available.

LIC Tech Term is very good term plan available at lower premium rates. If you have not purchased any term plan you should opt for this policy.

#2 LIC Jeevan Amar Term Plan

LIC is the oldest and most trusted insurance company of India. LIC has recently launched new term plan called as Jeevan Amar. This plan is sold in offline mode only. Jeevan Amar is available with two options called as level sum assured and increasing sum assured. It is one of the best plan by LIC. This plan offers very good flexibility and features. Key features of LIC Jeevan Amar are given below.

  • Jeevan Amar is Pure Term Plan available in offline mode only.
  • This plan provides option of level sum assured and increasing sum assured.
  • This plan offers special premium rates for women and non-smoker.
  • Jeevan Amar offers maximum coverage up to 80 years of age.
  • This plan offers selection to policy holder for death benefit payment – lumsum or installments.
  • Minimum sum assured in this plan is 25 Lakh with No cap on maximum sum assured.
  • Policy term in Jeevan Amar is 10 years to 40 years.

Overall LIC Jeevan Amar is complete plan which offers flexibility and increase in coverage with age.If you have not purchased any term plan you should go for LIC Jeevan Amar.

#3 LIC e-Term Insurance Plan

LIC e-term is one of the best term insurance plans.  This plan can be purchased online. The key features and eligibility condition for e-Term insurance plan are given below.

  • This plan can be purchased only via online route.
  • It is pure term plan which means that it only provides death benefits and do not offer any other benefit on maturity.
  • This plan covers all types of death including accidental death.
  • The e-term policy does not offer any riders.
  • Loans cannot be given against this policy.
  • Minimum Policy term is 10 years and a maximum is 35 years.
  • This plan provides coverage up to 75 years of age.
  • Minimum sum assured under this plan for the non-smoking category is 50 Lakh.

A high claim settlement ratio and trusted brand are positives about this plan. The premium of this plan is very high and this plan does not offer any riders.

#4 ICICI Prudential iProtect Smart Term Plan

ICICI Prudential iProtect Smart Term Plan provides 360 degree coverage to your life at a reasonable cost.  This plan also offers claim payment on diagnosis of 34 critical illnesses. The key features and benefit of this plan are given below.

  • You have options to select payout for a nominee from lump sum, Income, and increasing income.
  • This plan offers terminal illness benefit. This means you will be paid for detection of critical illness.
  • It gives you the option to add accidental benefit at the later stage.
  • This plan covers a wide range of critical illness.
  • The death due to suicide is also covered under this plan.
  • Minimum Policy term is 10 years and a maximum is 30 years.
  • Minimum sum assured under this plan is 8 Lakh.

#5 HDFC Click 2 Protect 3D Plus Term Plan

HDFC Click 2 Protect 3D Plus Term Plan is unique and best term insurance plans that provide coverage against three uncertainties death, disability and disease. This plan is offered by HDFC. Key features and benefit detail of this plan are given below.

  • HDFC Click 2 Protect 3D Plus offers 9 different options for the coverage.
  • This plan offers life stage protection feature to increase insurance coverage on certain key milestone without medical.
  • It also offers top-up option to increase coverage every year.
  • This plan offers attractive premium rates for female lives and non-tobacco users.
  • This term plan provides comprehensive coverage and premium waiver benefit on diagnosis of critical illness.
  • Minimum Policy term of this plan is 5 years and a maximum is 40 years.

#6 Max Life Online Term Plan Plus

Max Life Online Term Insurance Plan is next in the list of best term insurance plans in India. This plan offers basic life cover along with increasing monthly income to your family in your absence. Key features and benefit detail of this plan are given below.

Max Life Online Term Plan Plus offers one-time payout to nominee along with increasing monthly income for 10 years.

  • You can maximize plan benefit by opting for additional riders.
  • This plan gives the option to increase coverage at important milestones.
  • The Minimum policy term of this plan is 10 years and a maximum is 35 years.
  • This plan provides maximum coverage up to age 85 Years.
  • This plan is also offered to NRI in the selected countries.

High claim settlement ratio, increasing monthly income to nominee and coverage up to maximum age 85 years are plus points for this plan.

#7 SBI Life eShield

SBI Life eShield is one of the best term insurance plans offered by SBI Life. eShield is pure term plan. eShield offers a wide range of benefits at an affordable premium. Key features of this plan are given below.

  • SBI eShield offers an option to select a benefit from life cover and an increasing cover.
  • This plan offers inbuilt accelerated terminal illness benefit and two rider options for complete cover.
  • This plan offers a discount on the premium for a non-smoker.
  • The Minimum policy term of this plan is 5 years and a maximum is 30 years.
  • This plan provides a maximum coverage up to age 75 Years.

A few Recommendations before buying a Term Insurance Policy

  • Go for Online Term Plan instead of offline term plan. Online term plans are much cheaper as no middleman agent is involved in between.
  • Claim settlement is one of the leading indicator don’t rely too much on claim settlement ratio.
  • Fill up the complete details given in the form without hiding anything. Never allow someone to fill up the proposal form.
  • I would not advise to go for any type of riders while buying term plan.
  • Review your insurance requirements regularly and make changes with growing needs.

Over to you –

7 Best Term Insurance Plan given above is as per available IRDA data and feature sets. You might have already purchased a term plan. If you don’t find your insurance policy in the above list that does not mean that your choice is wrong. Remember that there are multiple term plans in India and selection method employed by every individual is different. Make sure to study policy documents before buying a plan.

30 Best Manufacturing Business Ideas

Manufacturing business ideas at a smaller scale are easy to start and do not require larger capital. The government also provides tax and other benefits to small and medium enterprise. Thus it is a good idea to start a small scale manufacturing business.

In this post, I will share a list of 30 Best Small Manufacturing Business Ideas that you can start with low investment. For better understanding, I have divided these manufacturing business ideas into following categories.

Also Read – 90 Business Ideas with low investment

  • Low Investment Manufacturing Business Ideas
  • Medium Investment Manufacturing Business Ideas
  • Large Investment Manufacturing Business Ideas

manufacturing business ideas

30 Best Small Manufacturing Business Ideas

# Low Investment Manufacturing Business Ideas

#1 Pencil Making

A pencil is a popular stationary item. Pencils are widely used in the education industry. It is very easy to produce a pencil and it can be produced in bulk. You need a pencil making machine along with wood and lead to make a pencil.

#2 Incense Stick Manufacturing

Incense Stick or Agarbatti Manufacturing is next in the list of low investment manufacturing business ideas. Incense sticks are widely used in India. You will find Incense stick in almost every Hindu household. It is used of prayers and puja. Thus starting Incense stick manufacturing is a very good business option.

#3 Herbal Oil Manufacturing

Herbal Oil Manufacturing is one of the most lucrative business ideas. Hair fall and hair growth problem is very common today. If you possess a traditional recipe of making herbal oil you can enter in this business. It is very low-cost manufacturing business idea.

#4 Disposable Plates

Disposable plates always remain in demand. Mostly in all parties and event, disposable plates are in use. In addition to that street food vendor also use disposable plates. Looking at the demand for disposable plates, you can open a small scale manufacturing business for producing disposable plates.

#5 Papad & Pickle Making

Papad and Pickle making is one of the most profitable home based small manufacturing business idea. Papad is a thin wafer type product served with food. You require basic ingredients such as flour, spice, oil for making papad. The success of this business depends upon your marketing skills.

#6 Detergent and Soap Making

Detergent and Soap Making is a very good business option. Detergent and soaps are fast moving consumer good item. You can start this business from home also. There are a lot of DIY YouTube videos available for learning detergent making. You need to keep marketing agents or executives to market your product.

#7 Handmade Chocolates

Everyone loves chocolates and manufacturing of chocolate is very easy. Chocolate has a very good market. If you have good culinary skills you can make and sell handmade chocolates. The raw materials required for making handmade chocolates are mould, sugar, chocolate cream etc. You can take orders from a small provision store or big shopping malls.

#8 Manufacturing of Cookies and Biscuits

Making cookies and biscuit is a lucrative business option. Cookies and Biscuits are used as regular bakery item for breakfast. If you can make exclusive cookies and biscuit you can rule the market. For producing cookies and biscuits in bulk you require machinery and manpower.

#9 Candle Making

Candle making is home based business ideas. Candles are used as religious items as well as decorative items. You need raw material such as mold, material for making wax. You can think of buying readymade candle making machine for bulk production.

#10 Bread Making

Bread is one of the widely used items in fast food. Bread making requires sugar, salt, flour and other baking items. It is a good idea to use a bread making machine for making bread. The quality of bread is very important in this business.

Also Read – 40 SMALL BUSINESS IDEAS WITH LOW INVESTMENT

#11 Furniture Making

Furniture Making is next in the list of low-cost manufacturing business ideas. Furniture includes table, chair, wardrobes etc. You require a few manufacturing equipment’s and wood to start this business.

#12 Smart Phone Cover Making

Smart Phone cover making is next in the list. Smartphone cases are used for the protection of mobile. Almost every smartphone user purchase smartphone cover. If you can make smartphone cases of various colors and look you can rule the market.

# Medium Investment Manufacturing Business Ideas

#13 Spice Powder manufacturing

Spice Powder making is a good business idea with medium investment. The demand for spices in the domestic and international market is growing on a daily basis. Chili Powder, Garlic Powder, Black Papper, Cumin, Clove are few famous spices. You require various machines such as grinding machine, impact pulverizer, pounding machine etc. The requirement of machines varies based on spiec type.

#14 Medical and Surgical Equipment making

Medical Surgical Equipment making is next on the list. Medical and surgical equipment are used widely in the medical field. If you have knowledge and expertise about medical equipment you can opt for this business. Investment required for this business is medium.

#15 Imitation Jewlery Making

Imitation Jewlry making is very good manufacturing business idea. If you are new to jewlery making you should go for the course. You require jewelry kit and various accessories. You can even start this business from home.

#16 Wallet and Purse Making

Wallet and Purse making is next on the list. Wallet and Purse are made of leather. You need to purchase either readymade lather or manufacture lather along with purse. You need to buy a machine or making a wallet and purse.

#17 Aluminium and Fibre Glass Door Making

A usage of Fiber Glassdoor and Aluminum fitting are growing. If you have knowledge in this field you can start your own aluminum and fiberglass door making business. You need to purchase a cutting and fabrication machine for this business.

#18 Toy Manufacturing

Toy manufacturing is next on the list. Toy manufacturing is a lucrative business option. Toys are of a different type. Firstly, you need to select what types of toy you want to manufacture. Once you decide type design and prototype toy. Once it is done you need to manufacture toy. This business requires a medium investment.

#19 Sport Equipment Making

The next business idea is related to sports. It is about the manufacturing of sports-related items such as a ball, bat, badminton racket, carrom etc. If Indoor and outdoor sports are popular in your country this business can lead to runaway success.

#20 Electrical Fitting producing

Electrical Fitting production is one of the lucrative business options. Firstly, you need to decide which electrical fitting item you will be making. There are multiple items such as sockets, plugs, fan regulator, inverter part etc. Every component has a different manufacturing method. Once you decide the item you need to create a prototype and purchase raw material and equipment of manufacturing.

# Large Investment Manufacturing Business Ideas

#21 Concrete Block Manufacturing Business

Concrete Block or Brick manufacturing is large investment manufacturing business ideas. India is going through construction boom. Concrete block is basic building block of any property. The demand of concrete block never ends. Thus concrete block manufacturing is profitable business option. You require labour force and suitable place to start this business.

#22 Tile Manufacturing Business

Tile is widely use construction item. Apart from local usage tiles are also exported outside. You require raw material such as clay, pottery, stone, silica sand for making tile. In addition to raw material you require tile making machine and suitable place to start this business.

#23 Automobile accessories manufacturing

Automobile accessories of two wheeler and four wheeler are in huge demand. The raw material required for making automobile accessories is easily available. If you have expertise you can manufacture automobile accessories such as seat cover, mud flaps, car interior accessories etc.

#24 Steel Utensils for Kitchen

Kitchen utensils such as pots, kettles, fry pans, cutleries and kitchen utensils are essentials in our homes. There is a large market for a kitchen utensil. So, starting kitchen utensil is a very good business idea. You can purchase readymade machinery for manufacturing of kitchen utensils.

#25 Plumbing Items Manufacturing

Plumbing items such as pipes, coupler, taps always remains in demand. This is mainly due to boom in the construction industry. Plumbing Items manufacturing requires large investment and machinery.

#26 Drug Manufacturing

 Drug manufacturing is also known as pharmaceutical manufacturing. You need to do lot of R&D to develop drug formula. If you are expert in this area or if you have competent educational background in pharma you can start this business. It is hard to get approval or license as drug manufacturer.

#27 Engineering Tool Making

Engineering tool making means making tooling used to poduce products. Before making tools you need to make appropriate die or moulds. Once you are ready with die you can start mass production. You can buy appropriate fabrication tools for making tools.

#28 Shoe & Belt Maker

Shoe & Belt making is one of the large investment manufacturing business idea. Shoes, boots, sandals are widely used in daily life. In order to make shoe you can use manual method or machine for bulk manufacturing.

#29 Chemical and Color Making

Chemical are used for various purpose such as food preservative, cloth dyes, hair dyes etc. If you have knowledge about chemical line you can start this business. This business requires special approval from the government. It is difficult to establish chemical plant. Investment required for this business is high.

#30 Cement Making

Cement making is highly profitable business. Cement is used in construction industry. Please note that cement making is complex process. You require raw material such as lime stone, clay and other chemical to make cement. You require huge space and machinery to start this business.