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Emerging Businesses and Business Tycoons of India

The coronavirus outbreak started in March 2020, affecting not just people's health but everything. From the beginning, the economy was in a downward spiral. Even though it was just for a quarter, GDP fell by 24 percent.

Ankit Awasthi

Ankit AwasthiBy Ankit Awasthi

Published on 20 July 2021 9:49 AM GMT

Business Tycoons of India
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Emerging Businesses and Business Tycoons of India

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The economy was slow, businesses were failing, and business leaders were forced to negotiate deals they had never imagined to preserve their companies. Many small and medium company owners were unable to handle the difficulties of the time, and their companies tripled in size. However, in the middle of this hostile and negative environment, some 'good news' arrived, and the bridge of expectations started to be constructed. Dedicated young individuals in small towns and cities have set an example of a business that has encouraged other young people. Even during the corona era, the changing environment and the availability of the Internet offered possibilities. Many young people have backed Prime Minister Narendra Modi's motto of looking for opportunities amid catastrophes.

Emerging Businesses

Amit Kumar, a native of Chitkohra, Patna, is one of them. In Chitkohra Market, he owned an ancient plastic and steel utensil store. In 2018, there was a period where sales were gradually decreasing and profits were non-existent. Flipkart, an e-commerce site, offered to link them at that point. That offer was accepted by Amit. The New Grandpa Steel House now sells 1,200 20 brand goods (appliances, books, and clothing) throughout the nation. Sales at his previous store in Chitkohra Market have been gradually decreasing for some time. The profit margin was likewise insignificant. He, too, decided to try his hand at e-commerce when Flipkart gave him the opportunity. This broadened their reach and provided them with a large market. After two years, 60% of their sales are now made online. There are additional advantages to doing business online.

Customers do not have to be concerned about the cost. On YouTube, an e-commerce business teaches marketing strategies. In addition, the e-commerce firm has recruited a new relationship manager for them. He purchased a warehouse shortly before Covid-19 and now sells 1,200 items from 20 different manufacturers. 'Patience is my motto,' he adds. In my view, the same concept should be developed, but for it to succeed, it must continue to improve.'

Vikas Mishra of Varanasi was similarly affected by the earthquake in 2015. He has a company called Trip to Templesome that he established some years ago. People were forced to go to Kailash Mansarovar by him. Due to the earthquake, several people had to cancel their reservations. The political and social atmosphere, on the other hand, was ideal for them. His area of expertise is the Kailash Mansarovar pilgrimage. Traveling on holy days is one of the services they offer to their customers, as is supplying pandits for worship with each group of travelers. They educate Nepali guides and porters on how to deal with religious tourists, as well as providing an extended two-day stay for TTT clients, and pilgrimage tourism is increasing fast at no additional expense. In 2019, his yearly revenue grew to Rs 20 crore. They began to compete with large corporations like Cox & Kings and Thomas Cook. A firm even expressed interest in purchasing their company.

Karan Pal Singh Chauhan, 43, and Vivek Parmar, 45, both left their high-paying professions seven years ago. Karan worked for the biggest legal firm in the nation. Vivek works for India's biggest BPO in England and the United States. Both Shimla returned to their home, despite the advice of relatives and friends. He established "31 Parallel," a BPO firm. Its yearly revenue had risen to Rs 12 crore before the pandemic. Karan and Vivek work at the business to find individuals who wish to return home. Both were professionals before deciding to establish a company and are now business owners. Opening a back office in the hill station was a once-in-a-lifetime opportunity for both of them. It grew to be the state's biggest call center in less than six years. It was named the Best Incubation Centre in 2018 by the Ministry of Electronics and Information Technology.

One of its most important aspects is that it will return hundreds of IT workers to their homes. 800 workers were returning from Delhi, Maharashtra, Gujarat, Karnataka, and Tamil Nadu before Covid-19. 'Working for a big company close home provides a distinct pleasant sensation,' Vikas Sharma, a senior employee, says. Although Karan and Vivek's parents were originally against him, they eventually consented. The company began on a modest scale, but soon well-known travel and hotel businesses joined their customer roster. Despite their disparate backgrounds and responsibilities, they all work in the service industry, not farming or manufacturing. Recent events have had a detrimental effect on agriculture and industry, as shown by the state of farmers and small and medium businesses (MSMEs).

Property building is the subject of the 2019-20 Economic Survey. According to the study, the country's entrepreneurship has exploded in recent years. From 2006 to 2014, the yearly rate of growth of new businesses in the organized sector more than quadrupled, reaching 12.2% in 2014-18. In 2014, the number of new businesses reached 70,000.

Indian unicorn companies are also increasing in the country and this change is bringing hope to the business sector. Let's hope that more businesses and startups came this year.

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Ankit Awasthi

Ankit Awasthi

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