India’s rapidly growing startup ecosystem is highly dynamic, with certain industries standing out as prime areas for innovation, growth, and entrepreneurial success. These industry sectors have not only inspired lots of entrepreneurs but also provided great opportunities for those who are looking to carve out their niche in the business world.
Startup Industries for Entrepreneurs
Most popular startup industry sectors in 2024 are:-
Financial Services
The Financial Services sector in India stands out as the most promising field for startups, having an industry domain that has encouraged 46 startups by entrepreneurs. This startup has revolutionised online payments with its innovative, developer-friendly APIs and seamless integration support.
Explore more about the fintech startups in India.
Spacetech
India’s spacetech industry has emerged as a vibrant sector for startups. Its possibe with the support of country’s advancements in space technology and supportive governmental policies. The Indian Space Research Organisation (ISRO) and Indian National Space Promotion and Authorization Center (IN-SPACe) has played a pivotal role in this growth by fostering collaborations and opening up its facilities for private players. Startups in this sector are focusing on a range of innovative solutions, including satellite manufacturing, space-based data analytics, launch services, and ground station operations. This supportive ecosystem is helping Indian spacetech startups attract investment, develop cutting-edge technologies, and contribute significantly to the global space economy.
Explore the spacetech startups in India.
EV (electric vehicle) Industry
India’s electric vehicle (EV) industry is rapidly evolving, presenting numerous opportunities for startups. Driven by government policies promoting sustainable transportation, such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme. EV sector is seeing significant growth. Startups are innovating across various segments, including electric two-wheelers, three-wheelers, passenger cars, and commercial vehicles. Additionally, companies are focusing on developing essential infrastructure like charging stations and battery swapping solutions. The push for localization of manufacturing and advancements in battery technology is also creating a favorable environment for EV startups. Collaborations with established automotive companies and investments from venture capitalists are further accelerating the growth of the EV startup ecosystem in India. Its helping the country as a potential leader in the global EV market.
Explore the list of Electric Vehicles (EV) Startups in India.
Retail
The Indian retail sector remains a major player both domestically and globally, significantly contributing to the country’s GDP and employment. According to a report by 2030, it will become the third-largest market. Recently, the retail industry has experienced multiple changes, including new business models, enhanced customer experience and growing digitalization across the value chain. Over the next decade, more disruptions are expected to transform the sector. One notable figure recognized for his distinguished startup in retail is Radhakishan Damani, the founder of Avenue Supermarts.
Software & Services
The Fourth industry on the list is Software & Services, which has welcomed 21 startups to flourish within its potential fold. One of the notable startup founders in this sector is Deep Kalra, renowned for funding MakeMyTrip.
Transportation and Logistics
Transportation and logistics, having attracted 16 brand-new entrepreneurial ventures, stands in the 5th spot in the list. Deepinder Goyal, the founder of Zomato is a highly esteemed figure in this industry domain, celebrated for his remarkable achievements.
Renewable Energy
India is rapidly becoming a global leader in renewable energy. The country benefits from a favourable economic climate, abundant solar, wind, and hydropower resources, and a strong regulatory framework. In March 2023, India’s installed renewable capacity was 143644.51 MW, growth rate at a CAGR of 8.71% between 2024-2032.
Know more about the top green energy startups in India.
Education
The education sector in the country has inspired 10 highly successful startup ventures, placing it in the 6th place on the list. Among the esteemed startup founders in this domain are Chaitanya Kalipatnapu and Ashwin Damera; known for their notable creation, which is committed to teaching the skills of the future.
Here is the top edtech startups in India.
Consumer Goods
The Consumer Goods sector ranks 7th place on the list with 7 startups having achieved their entrepreneurial ambitions in this sector. Ravi Modi, the founder of Vedant Fashions, stands out as an exemplary visionary in this sector, renowned for his successful track record and achievements.
Media & Entertainment
The Indian Media and Entertainment (M&E) sector is emerging as a pivotal sector of the economy, showing remarkable progress. Factors such as widespread access to fast and affordable internet, rising incomes, and increasing c