According to the Department of Industrial Policy and Promotion (DIPP), India has the third-largest startup ecosystem in the world and Gujarat tops the list followed by Karnataka, Kerala, Odisha, and Rajasthan.
The capital city of Gujarat, Gandhinagar, has abundant business opportunities. But before we go through the various types of business you can start in Gandhinagar, let’s go through some facts about the capital city.
Some Facts About Gandhinagar
- It is one of the cleanest cities in Asia and the second most planned city in India after Chandigarh.
- Popularly known as “The Heart” of Gujarat, Gandhinagar has many established IT parks and educational institutions.
- The educational level in Gandhinagar is the highest in Gujarat at 87.11%.
- Gandhinagar’s GIFT City (Gujarat International Finance-Tech City) is a dream project of our PM, Mr. Narendra Modi. It projects Gandhinagar as a Global Financial and IT Hub.
Businesses You Can Start in Gandhinagar
If you are wondering which businesses will work in Gandhinagar, here are some business ideas that could make for a successful business.
Business Idea #1. Garment Manufacturing Unit
Gujarat is the textile capital of India. If you have some experience in tailoring or have worked with a garment manufacturing unit, a small scale garment manufacturing business is a safe and a good idea.
The cloth in Gujarat is cheap and abundantly available. Initially, you can start your business at home; hire a few tailors, look at what’s trending, and start manufacturing the clothes. You can use social media platforms to market your products, sell them to a local retailer or on Amazon.
Business Idea #2. Art and Craft
Handicrafts like Bandhini are synonymous to Gujarat. You can take advantage of the traditional flavour of Gujarat and create beautiful artefacts that are in demand all over the world. Start small and cater to the local audience first. Conduct exhibitions or put up stalls in the malls of the city. As your business grows, you can even think of going global.
Business Idea #3. Restaurants/Franchise
Despite being the capital of Gujarat, Gandhinagar has a scarcity of good restaurants serving good food. There lies the opportunity. You can think of investing in a franchise like Dominos or Subway or open up a new restaurant serving popular menu like Chinese, Punjabi, Continental, etc.
Business Idea #4. Salt Industry
Gujarat’s coastline is a long 1600 km stretch in India that offers natural resources such as salt. Gujarat is the second-largest producer and exporter of salt. A small scale industry manufacturing salt can be a good business idea.
How do I get finance to start my business in Gandhinagar?
Traditional banks offer business loans, but they need collateral and a strong business credit history to approve it for you. Since your business is in a nascent stage, you are definitely not going to have a business credit history. It is, therefore, highly unlikely for you to get a business loan.
But there are other ways to get finance to get your business off the ground. A personal loan for self-employed is one of them.
How does MoneyTap’s personal loan for business help you?
- Easy online process – just download the app and register with your details.
- Instant approval – once you submit your application, you get to know the approval status within a few seconds.
- Unsecured personal loan – no need to provide collateral or guarantor.
- Flexible repayment options – repay the borrowed amount in affordable EMIs spread over a loan tenure ranging from 2 months to 3 years.
- Low-interest rate – enjoy interest rate starting at 1.08% per month.
Get a personal loan in Gandhinagar from MoneyTap to start your business. Apply for an instant cash loan of up to ₹ 5 Lakh today.