Over the last decade, many strong economic reforms are implemented by the govt of India. The introduction of GST and investor-friendly laws helped many industries to extend profit and for several to sustain. These favorable conditions are making India stand firmly during these critical financial conditions worldwide. Following are the ten leading industries in India, that are supporting our economy extensively:
The Indian textile industry is one among the oldest industries that’s supporting the Indian economy. It can produce a good range of products for each segment in India and abroad. Scope of the industry composites of the generation of staple like silk, wool, and jute to process them to finished apparel. Moreover, the textile industry features a contribution of twenty-two in GDP and is playing a serious role by having a 15% share of the export earnings of India in 2018-19. Additionally, it provides job opportunities to around 4.5 million people across the country. The industry is currently estimated at US$250 billion.
Further, leading textile companies in India are Bombay Dyeing and Manufacturing Company Ltd., Fabindia Overseas Private Ltd, Grasim Industries Ltd, Vardhman Ltd, Raymond Ltd. Among promising start-ups in Industry, PostFold Ltd and IntelloCut are making commendable progress.
India is that the favorite country in providing Generic Drugs globally. It supplies around 50% of vaccines worldwide. Additionally, it values US$ 55 billion. Further, it recorded a 9.7 to extend in export earnings of India whereas it’s a 2% share in GDP.
Leading pharmaceutical companies in India are Piramal Enterprises, Sun Pharmaceutical Industries, Aurobindo Pharma Ltd, Dr. Reddy’s Laboratories, Wockhardt Ltd.
IT and Services:
Indian IT industry has its conveyance centers in many countries across the world . The IT sector in India has two components, information technology services, and BPO. Additionally, it’s increased its share in India’s GDP from 1.2% to 7.7% (as per fiscal year report of 2017-18). the price of the Indian ITeS industry is US$177 billion. 4.1 million people are employed in ITeS.
Top ITeS companies in India are TCS, Wipro, HCL, Tech Mahindra, Oracle Financial Services, Mphasis, etc. TCS may be a leading ITeS company with a market price of around US$100 billion.
India is that the fourth largest company considering the car market recording sales of 26.27 million units in FY19. The Two-wheeler industry is more dominant than other segments of automobiles. India grabs 7th position in manufacturing automobiles. Increased specialise in the agricultural market is that the reason behind the expansion of the car industry. It contributes a 7% share within the GDP of India. the dimensions of the Indian industry is 2.6 million units. internet output from the industry is US$ 300 million.
Ashok Leyland, Bajaj Auto Ltd, Eicher Motors Ltd, Force Motors Ltd, Mahindra & Mahindra Ltd, Hero MotoCorp Ltd, Tata Motors Ltd are the large names within the Indian automobile sector. Maruti Suzuki is that the biggest automobile manufacturer in India. It holds 53% of the market share.
Chemical & Petrochemical Industry:
The Indian chemical and petrochemical industry values US$ 118 billion. It shows the expansion rate of a CAGR of 8% for subsequent five years. it’s contributed a 9% share of total Indian export earnings. This sector holds a 15% share within the manufacturing GDP (during 2012-13). Bulk chemicals are the most important sub-segment of the Indian industry holding 40% market share whereas specialty chemicals with approximately 19% market share. Gujarat, Maharashtra, and Uttar Pradesh hold quite 50% of Gross Value Add (GVA) and Gross Output of the chemical and petrochemical industry.
Pidilite Industries Ltd, Tata Chemicals Ltd, UPL Ltd, Gujarat Fluoro Chemicals Ltd, Reliance Industries Ltd, Indian Oil Corporation, Manali Petrochemical Ltd, etc are the leading companies in Indian chemical and Petrochemical Industry. Reliance Industries rules the petrochemical market in India and abroad.
Increased investments in infrastructure, industrial manufacturing, durables , automobile industries have also boomed the Engineering industry. This industry has strategic importance to India’s economy. Export of transport equipment, construction equipment, machinery, light engineering equipment has helped the Indian economy to realize growth. It holds a 60% share of total export. During FY 18-19, India exported US$81.02 billion engineering equipment. It showed a growth of 6.32%. Construction equipment shows the expansion of 18% in FY19 whereas electrical equipment recorded the very best growth of 12.8% during an equivalent period.
L&T Ltd, Tata Group, Reliance Industries, Godrej are the leading Indian engineering companies. L&T is that the principal ruling construction and engineering of India.
Rising income has expanded the expansion of monetary Services in India. Commercial banks, insurance companies, NBFCs, etc come under Financial services. This industry has grown to US$376.73 billion by Oct 19. IPO showed rapid climb of US$2.10 billion in FY19.
Bajaj Finance Ltd, GIC Housing Finance Ltd, HDFC Ltd are the simplest financial service providers in India.
FMCG is that the fourth prime sector within the Indian economy. It showed a growth of 16.5% in value terms. It grew 9-10% during FY19. the world is predicted to succeed in US$103.7 billion by FY20.
Godrej, Parle Agro Ltd, ITC Ltd, Marico Ltd, Amul are the leading FMCG companies in India.
Dabur India is India’s largest FMCG Company with revenues of over US$ 1.22 billion in FY19.
Education & Training Industry:
As India has the most important population aged group 5-24, apparently there are more opportunities for the education sector. Moreover, it had been worth US$101.1 billion in FY19. India has 39,050 colleges and 903 universities. Further, the Gross Enrolment Ratio for education was 25.8% in FY17-18. Moreover, the world is estimated to succeed in US$1.96 billion by 2021 with approximately 9.5 million users.
Some of the leading Indian companies within the sector are BYJU’s, Dexler Education, Educomp Solutions, IGNOU, NIIT, etc.
The tea industry plays an important role within the Indian economy. Moreover, the bulk of the tea comes from Assam and West Bengal . Additionally, India has maintained its leadership during this industry with a turnover of roughly Rs 10,000 crores. Further, India has increased tea production by 250% and land utilization for an equivalent by 40%. It contributes a 9.33% share in export earnings.
Therefore, Tata Tea, Bombay Burmah, Roselle India, Goodrick’s groups are the highest Indian companies who are tea manufacturers and exporters. Hence, Tata Tea is that the largest manufacturer and exporter of tea in India.