is travel business profitable in india

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Is Tour & Travel Business Profitable in India in 2023-24?

Gaurav Singh

The Current Landscape of the Travel Industry in India

Contribution to GDP: As reported by the World Travel and Tourism Council (WTTC), the travel and tourism sector's direct contribution to India's GDP was Rs 15.7 trillion in 2022 which is projected to become Rs 16.5 trillion by end of 2023, a figure that underscores the industry's economic importance (Source : Economic Times) . This contribution showcases a significant growth trend over recent years.
The Foreign Exchange Earnings (FEEs) from tourism in India showed a significant increase in recent years. In 2022, the FEEs from tourism in India were Rs. 134543 crores (approximately US$ 16926 million), demonstrating the sector's considerable contribution to the economy (Source : Indian Tourism at a Glance - 2023)
Post-Pandemic Recovery: The tourism sector has been rebounding strongly post-pandemic. In September 2023, the FEEs were Rs. 18534 crores, a substantial growth of 37.9% compared to September 2022 and an 8.61% increase compared to September 2019. This indicates a robust recovery and growing profitability in the sector
The Foreign Tourist Arrivals (FTAs) in September 2023 were 648,213, up 17.5% from September 2022 , although there was a 13.7% decrease compared to September 2019. The FTAs from January to September 2023 totaled 6,432,269, marking a significant 61.7% increase from the same period in 2022, bolstered by government initiatives like e-visa facilities and the ‘ Incredible India ’ campaign.

Factors Contributing to Profitability in the Indian Travel Industry

Domestic Travel: A significant upswing in domestic tourism, characterized by a growing preference for local destinations and unique experiences, has opened lucrative opportunities for travel businesses. The trend towards 'staycations' and exploring lesser-known destinations within India has fueled the industry's growth.
International Market: India's appeal as a global tourist destination continues to rise, with international tourists drawn to its rich cultural heritage, diverse landscapes, and spiritual retreats. The Ministry of Tourism's efforts to promote India on international platforms have resulted in a steady increase in foreign tourist arrivals.
Online Booking and Digital Platforms: The advent of digital platforms and online booking systems has revolutionized how travel services are marketed and consumed. This digital shift, detailed further in our article " Embracing Technology: The Rise of Digital Trends in Travel " has made travel businesses more accessible, efficient, and customer-friendly.
Social Media and Digital Marketing: The effective use of social media and digital marketing strategies has allowed travel businesses to reach a broader audience and engage customers more personally and dynamically.
Specialized Travel Experiences: The rise of niche tourism, catering to specific interests such as adventure, wellness, culinary, and cultural tours, has opened new revenue streams for travel businesses. These specialized experiences cater to diverse traveler preferences and offer unique selling propositions.
Competitive Market Landscape: The travel industry in India is highly competitive, with numerous players ranging from large-scale travel agencies to independent tour operators. To stand out, businesses need to offer unique value propositions, exceptional service, and innovative travel packages.
Regulatory and Operational Challenges: Compliance with tourism-related regulations and obtaining necessary licenses and permits can be challenging. It's essential for new entrants to familiarize themselves with the legal aspects, as discussed in " Understanding Tourism Policies: Impact on Indian Travel Businesses ."
Quality and Service Standards: Maintaining high standards of service and ensuring customer satisfaction are crucial for sustained success. This involves continuous quality improvement and adapting to changing customer preferences.
Leveraging Technology and Trends: Embracing new technologies like AI, virtual reality, and mobile apps can enhance operational efficiency and customer experience.
Staying Abreast of Trends: Keeping up with emerging trends in travel, such as sustainable and eco-friendly tourism, can help businesses tap into new markets and meet evolving customer expectations.

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Travel Agency Profit Margin | Guide for Startups

The travel agency profit margin is usually around 10% - 15%.

‘ I Am Planning To Launch A Travel Agency, Is It Profitable?’

Here are a few trends that would answer your question.

The Indian market of tours and activities is US$ 20 billion, which is expected to double up by FY27.
About 82% of travelers prefer booking their travel through travel agents.
76% of travelers refer to various sources for information before making their bookings.
33% of Millenials are expected to hire travel agents in these two years for their travel bookings.

Travel agencies are a popular business to start these days. They can be profitable and provide a good return on investment if done properly.

Companies with high-profit margins tend to have higher customer retention rates and customer satisfaction. As a result, they can keep their customers coming back for more services, which in turn leads to increased profits over time.

Overview of Travel Agency Business in India

Investment: Rs. 4 Lacs - Rs. 8 Lacs (minimum)
Area Required: 200 sq ft. - 400 sq ft. (minimum)
Human Resource: 4 - 7 people
Travel Business Profit Margin: 10% - 15%
Estimated Sales: Rs.3000 - Rs.4000 per Tour

How to Calculate and Increase your Travel Agency's Profit Margin?

The first step in calculating your profit margin is to figure out the average cost per trip of a customer.

The cost per trip includes all expenses that occur during the travel process, such as:

Transportation and Meals
Miscellaneous

One of the most important factors that can increase your travel agency's profit margin is to offer quality customer service.

Investment Required to Start a Travel Agency

Travel agencies are booming in the last few years.

They offer a wide range of services including booking flights and hotels, arranging tours, and providing other travel-related services.

With so many travel agencies opening up, it is becoming harder for any new business to find its place in this industry.

To start a travel agency, you will need to invest a minimum of Rs. 4 Lacs to Rs. 8 Lacs.

Also, you will need to have patience and perseverance to achieve your goal of helping others enjoy their trips.

Expenses in Travel Agency

The costs of running a travel agency can be significant.

There are many different types of costs that need to be taken care of like marketing, customer service, IT and software, accounting, human resources, etc.

A Travel Agency is a business that provides travel services such as planning, booking, and organizing travel.

The expenses of the Travel Agency are usually the cost of providing these services to its customers.

There are different expenses involved in running a Travel Agency including the cost of purchasing equipment and supplies, advertising, salaries for employees and office space.

There are various sources of investment that could help you in starting your travel agency.

Some of the sources include:

Personal savings
Private loans from friends and family members
Venture capital investors
Business plan competitions
Crowdfunding
Angel investors

But, before approaching these investors, make sure you have done company registration online . This will help you gain their trust easily.

Area Required to Start a Travel Agency

The first thing that you need is an area that you can call home for your business.

You can find the perfect place by searching online for listings of available spaces and then looking at reviews and ratings from past tenants.

To start a travel agency, you need to find an area that is not already saturated with competition.

A travel agency is required to have an area of a minimum of 200 square feet. This space is used for the office of the company, storage of some goods, and the reception area.

Facilities: Facilities play an important role in determining where your business will be based. Thus, consider the location of your office and other facilities that you need to have on hand.

Human Resource Required to Start a Travel Agency

Once you have found your perfect space, then it is time to hire staff members who are knowledgeable about the industry and have experience in managing properties.

The more people you have, the more successful your business will be.

The most important part of finding people to work for your business is finding the right people and skillsets for your company.

The people required to start a travel agency include the following:

A person with a vision and passion for travel
A person with strong customer service skills
A person who is willing to work long hours and is willing to learn new skillsets
Someone who can manage multiple tasks at once

Best Practices for Increasing Your Travel Agency's Profit Margin

The travel industry is booming and it is not just because of the economy. There are many factors that contribute to the success of this industry, but one of the main ones is travel agencies’ profit margin.

The best practices for increasing your agency's profit margin are:

Be innovative and creative with your marketing strategies
Offer more services in a single trip or package
Reduce costs by using technology
Reducing the cost of customer acquisition

Many travel agencies like Tripadvisor and pickyourtrail allows their customers to customize their tours online. As a result, they get more customers then an offline travel agency.

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Travel and tourism industry in India - statistics & facts

The most profitable travel segments, agents to help package travel, key insights.

Detailed statistics

Travel & tourism development rank India 2011-2021

Leading global travel markets by travel and tourism contribution to GDP 2019-2022

Contribution of travel and tourism to GDP of India 2019-2022

Editor’s Picks Current statistics on this topic

Current statistics on this topic.

Value of travel market in India FY 2018-2027

Travel market distribution in India FY 2018-2027, by type

Recommended statistics

Key figures.

Basic Statistic Direct contribution of tourism and hospitality to GDP in India 2012-2028
Basic Statistic Revenue share from tourism in India 2013-2022, by segment
Premium Statistic Distribution of direct travel and tourism GDP in India FY 2023, by spending type
Basic Statistic Number of jobs in travel and tourism sector in India FY 2014-2022
Premium Statistic PE/VC investment deals in travel and hospitality 2013-2022

Direct contribution of tourism and hospitality to GDP in India 2012-2028

Direct contribution of tourism and hospitality to GDP in India from 2012 to 2017, with an estimate until 2028 (in billion U.S. dollars)

Revenue share from tourism in India 2013-2022, by segment

Distribution of revenue from tourism to GDP in India from 2013 to 2022, by segment

Distribution of direct travel and tourism GDP in India FY 2023, by spending type

Distribution of direct travel and tourism GDP in India in the financial year 2023, by spending type

Number of jobs in travel and tourism sector in India FY 2014-2022

Number of direct and indirect jobs in the travel and tourism sector across India from financial year 2014 to 2022, with projection for 2023 (in millions)

PE/VC investment deals in travel and hospitality 2013-2022

Number of private equity and venture capital deals in the travel and hospitality sector in India from 2013 to 2022

Premium Statistic Tourist arrivals at India 2022, by region
Basic Statistic Number of domestic tourist visits in India 2000-2022
Premium Statistic Number of foreign tourist arrivals in India 2008-2022
Premium Statistic Number of visitors to national monument India FY 2017-2022, by type
Premium Statistic Number of domestic visitors to ticketed monuments India FY 2023
Premium Statistic Number of foreign visitors to ticketed monuments India FY 2023

Tourist arrivals at India 2022, by region

Tourist arrivals at India in 2022, by region (in 1,000s)

Number of domestic tourist visits in India 2000-2022

Number of domestic tourist visits in India from 2000 to 2022 (in millions)

Number of foreign tourist arrivals in India 2008-2022

Number of foreign tourist arrivals in India from 2008 to 2022

Number of visitors to national monument India FY 2017-2022, by type

Number of visitors to national monuments across India from financial year 2017 to 2022, by type (in millions)

Number of domestic visitors to ticketed monuments India FY 2023

Leading ticketed monuments in India in financial year 2023, by number of domestic visitors (in 1,000s)

Number of foreign visitors to ticketed monuments India FY 2023

Leading ticketed monuments in India in financial year 2023, by number of foreign visitors (in 1,000s)

Travel services

Premium Statistic Online travel agency usage India 2023, by gender
Premium Statistic Agencies used for online services India 2023 by gender
Premium Statistic Device used for online travel agency India 2023, by age group
Premium Statistic Purpose of online travel agency usage India 2023, by age group
Premium Statistic Reason for not using online travel agency India 2023, by gender

Online travel agency usage India 2023, by gender

Share of online travel agency usage in India as of June 2023, by gender

Agencies used for online services India 2023 by gender

Share of agencies used for online travel services in India as of June 2023, by gender

Device used for online travel agency India 2023, by age group

Device used to access online travel agencies in India as of June 2023, by age group

Purpose of online travel agency usage India 2023, by age group

Purposes of using an online travel agency in India as of June 2023, by age group

Reason for not using online travel agency India 2023, by gender

Share of reasons for not using online travel agencies in India as of June 2023, by gender

Market overview

Premium Statistic Value of travel market in India FY 2018-2027
Premium Statistic Travel market distribution in India FY 2018-2027, by type
Premium Statistic Travel market distribution in India FY 2018-2027, by booking channel
Premium Statistic Value of hotel market in India FY 2018-2027
Premium Statistic PE/VC investments in travel and hospitality 2013-2022

Value of the travel market in India from financial year 2018 to 2020, with an estimate for 2027 (in billion U.S. dollars)

Distribution of Indian travel market from financial year 2018 to 2020, with an estimate for 2027, by type

Travel market distribution in India FY 2018-2027, by booking channel

Travel market distribution across India from financial year 2018 to 2020, with an estimate for 2027, by booking channel

Value of hotel market in India FY 2018-2027

Value of hotel market in India from financial year 2018 to 2020, with an estimate for 2027 (in billion U.S. dollars)

PE/VC investments in travel and hospitality 2013-2022

Private equity and venture capital investments in travel and hospitality sector in India from 2013 to 2022 (in million U.S. dollars)

Hotel industry

Premium Statistic Distribution of hotel market in India FY 2018-2027, by type
Premium Statistic Distribution of the hotel market in India FY 2018-2027, by booking channel
Premium Statistic Number of hotel rooms in India FY 2001-2023
Premium Statistic Number of approved hotels in India 2022, by category
Premium Statistic Supply of hotel rooms in India FY 2022-2023, by city
Basic Statistic Occupancy rate in hotels in India FY 2001-2024

Distribution of hotel market in India FY 2018-2027, by type

Distribution of the hotel market across India from financial year 2018 to 2020, with an estimate for 2027, by type

Distribution of the hotel market in India FY 2018-2027, by booking channel

Distribution of the hotel market across India from financial year 2018 to 2020, with an estimate for 2027, by booking channel

Number of hotel rooms in India FY 2001-2023

Number of hotel rooms across India from financial year 2001 to 2023, with an estimate until 2027 (in 1,000s)

Number of approved hotels in India 2022, by category

Number of approved hotels in India in 2022, by category

Supply of hotel rooms in India FY 2022-2023, by city

Existing supply of hotel rooms across Indian cities from financial year 2022 to 2023 (in 1,000s)

Occupancy rate in hotels in India FY 2001-2024

Occupancy rate in hotels in India from financial year 2001 to 2023, with estimates of 2024

Major players

Basic Statistic Leading hotel and restaurant companies in India 2023, by market capitalization
Basic Statistic Domestic market share of airlines across India FY 2023, by passengers carried
Premium Statistic Revenue of Airbnb India FY 2018-2020
Premium Statistic Revenue of OYO across India FY 2019-2023
Premium Statistic Thomas Cook India revenue FY 2020-2023
Premium Statistic MakeMyTrip's revenue FY 2015-2023

Leading hotel and restaurant companies in India 2023, by market capitalization

Leading hotel and restaurant companies in India as of 2023, based on market capitalization (in billion Indian rupees)

Domestic market share of airlines across India FY 2023, by passengers carried

Domestic market share of airlines across India in financial year 2023, by passengers carried

Revenue of Airbnb India FY 2018-2020

Revenue of Airbnb India from financial year 2018 to 2020 (in million Indian rupees)

Revenue of OYO across India FY 2019-2023

Revenue of OYO across India from financial year 2019 to 2023 (in billion Indian rupees)

Thomas Cook India revenue FY 2020-2023

Revenue of Thomas Cook (India) Limited from financial year 2020 to 2023 (in billion Indian rupees)

MakeMyTrip's revenue FY 2015-2023

Revenue of MakeMyTrip Limited from financial year 2015 to 2023 (in million U.S. dollars)

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Indian business travel industry trends 2023: a look into the future.

The Business travel industry in India, reinvigorated by the influx in foreign investments, global market expansion of Indian companies, and the popularity of bleisure, is expected to undergo some exciting changes in 2023. As a developing nation, India provides an unparalleled sustainable business environment with a strong judiciary system, abundant natural resources, diverse climatic conditions, competitive costs, low labor costs, excellent banking and financial institutions, and straightforward tax structures. These are but a few factors that draw international opportunities to Indian shores and consequently push the business travel industry in India forward. To help prepare for the lucrative future, we felt it is an excellent opportunity to explore the Indian T&E industry trends that will reshape business travel in India in 2023 and beyond.

State Of Indian Business Travel In 2023:

Let us dive into the factors that best describe the current state of the business travel industry in India in 2023.

Market Value

Region-Wise Trends

Region-specific analysis of business travel in India found that Delhi, the nation’s capital, is leading the way with the highest volume of business travel bookings in 2021, followed by Hyderabad and Bangalore. As the country’s most significant economic hotspots, these regions are expected to push the business travel industry in India to new heights in 2023.

Industry-Wise Trends

An industry-wise analysis of bookings in the business travel industry in India found that the construction industry has the highest volume of business travelers. Besides construction, consulting and Information Technology (IT) industries significantly contribute to the soaring market value of the business travel industry in India. Outsourcing is the primary reason why the IT industry is currently one of the leading Indian T&E industry trends.

Indian Business Travel Industry Trends in 2023:

Without any further delay, here are the top trends of Business travel in 2023:

Globalized Travel Is Becoming The Norm

With fewer travel restrictions in 2023 and international travel bouncing back from the pandemic, business travel in India is no longer limited to a handful of destinations. While innovative technologies, increased connectivity, and disappearing travel restrictions are bringing international markets closer, Indian businesses will extend their global reach on a scale like never before. It is why globalized travel will be one of the prominent Indian T&E industry trends to keep an eye out for in 2023.

Rising Foreign Investment In The Space

As a fast-paced, stable, sustainable, and business-friendly economy, India is drawing in many global investors due to its excellent business policies. In 2022, the Foreign Direct Investment (FDI) equity inflow to India alone was valued at around USD$572 billion, which is expected to substantially increase the frequency of business travel to and from India in 2023.

Travel as a Result of Market Expansion

Indian businesses will continue to expand their markets, forge global partnerships, and thrive off international opportunities in 2023. Enterprises will not solely rely on remote communication tools to achieve this feat but will also likely do so by meeting in person. That is why domestic and international market expansion will be a leading trend in the business travel industry in India to look out for in 2023.

An Increasing Mix of Business and Leisure

Bleisure trips mutually benefit businesses and employees, leading to increased morale and business travel productivity. As the world transitions back to normalcy in 2023, the current Indian economic situation is ripe with opportunities for millennials anxious to resume their business and leisure travels and to get their work-life balance back on track. We can expect a growing number of Indian companies to visibly embrace and facilitate bleisure trips as a leading trend for the business travel industry in India as we move through 2023.

Business-Airline Partnerships Grow Stronger

The re-emergence of the business travel industry in India in 2023 will witness stronger relationships between businesses, their travelers, and airline operators. The airline industry is expected to provide better deals, flexibility, convenience, and travel experiences to suit the unique requirements of business travelers, such as priority check-in, lounge access, and onboard services. These strong relationships will encourage business travel in India, streamline T&E, and enable businesses to implement cost-effective travel in 2023 and beyond.

Hotel-as-a-Hub

The Indian hotel industry has been through its fair share of ups and downs over the past few years. As business travel in India is on the rise again, accommodation providers will go beyond simply providing stay for travelers and take it one step further to offer revamped travel experiences. You can expect hotel chains to broaden their offerings to include co-working spaces, conference rooms, business lounges, and other amenities designed specifically to suit the unique needs of the business travel industry in India. In 2023, we foresee that numerous Indian hotel chains will work on establishing their hotels as productive Hubs for Indian business travelers.

IT Industry Travel Driven by Outsourcing

The IT industry, one of the leading contributors to the Indian economy, will be a crucial driver of business travel in 2023. As an industry that engages in a high level of outsourcing, we can expect more and more Indian IT companies to send their employees to work on domestic and international projects. It is why outsourcing and the IT industry will work hand in hand to fast-track the growth of the business travel industry in India.

Stakeholder and Team Meetings

Despite innovations in remote communications that make it dramatically easier for business stakeholders to operate and communicate remotely, on-premise stakeholder and team meetings remain essential to most businesses. As such companies continue to thrive in 2023, we can expect their teams and stakeholders to frequently conduct business travel in India.

Conferences and Events

Conferences and events are an integral part of any thriving business. In 2023, we can expect to see more Indian companies conducting conferences and events to network, showcase their products and services, and stay up-to-date with industry trends. You can also expect many to send their employees overseas and domestically to attend conferences and events that will positively impact the business travel industry in India over the upcoming years.

The business travel industry in India needs the right tools and strategies to derive the best value from every business trip. The right T&E management tools can be instrumental in travel budget optimization such that you ensure your employees have a productive, enjoyable, compliant, and cost-effective travel experience. Find a T&E management partner to help you keep up with the tremendous growth potential of the economy and business travel industry in India in 2023 and beyond.

Tripeur – The Ultimate T&E Experience in India

Tripeur is a travel and expense management platform that offers a range of services designed to prepare for the Indian T&E industry trends and make business travel more efficient and cost-effective.

Tripeur is a stellar automated expense management platform that provides users with a full-scale T&E expense module that addresses, solves, and simplifies all challenges facing your expense management.

Our T&E management platform keeps the CFO, admins, managers, and the finance department in the loop through expense alerts and reports on all stages of the travel booking experience.

Engaging in our platform is an excellent way to maximize trip productivity and ROI like never before. Our user-friendly software can perpetually fix your expense management inefficiencies and dramatically curb costs like never before.

By now, you should understand how the ancient traditional spreadsheet-based processes make it almost impossible to enforce your T&E policy and accurately manage your corporate travel expenditures. Steer away from manual expense management and explore what Tripeurs automated T&E management platform can do for you. Contact us to learn how you can automate and streamline your travel and expense management systems to brace for the promising future of Indian business travel.

For CFOs Consistent YoY savings by changing user behavior

For Travelers Superior experience for travelers with a virtual travel assistant

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It’s three-in-a-box corporate travel experience solution . Check it out

A Complete Guide to start a Travel Business in India

Starting a travel business in India can be a challenging but rewarding venture. With the right knowledge and resources, however, it’s possible to navigate the industry and establish a successful travel business. In this blog post, we’ll provide a complete guide to starting a travel agency in India, covering everything from market research, your travel business planning to marketing and sales strategies. By the end of this post, you’ll have a clear understanding of what it takes to succeed in the travel industry and be well on your way to launching your own agency.

First and foremost, it’s important to conduct thorough market research before diving into the travel industry. This includes understanding the competition, identifying target customers, and analyzing the current state of the market. By understanding the needs and preferences of your target audience, you’ll be better equipped to tailor your products and services to meet their demands. Additionally, analyzing the competition will help you differentiate your business and identify areas where you can stand out.

Choose a Niche for your Travel Business:

Choosing a niche as a travel agent in India can be a crucial factor in the success of your travel business. Specializing in a particular type of travel, such as luxury vacations or eco-tourism, can help you stand out in a crowded market and attract a specific type of client. Conducting market research can help you identify potential demand for your chosen niche and allow you to tailor your offerings accordingly. Building relationships with suppliers and partners in your chosen niche can also help you to negotiate better rates and create unique experiences for your clients. Ultimately, choosing a niche can help you to differentiate your business from the competition and establish yourself as an expert in your field. So, it is always better to choose a niche and specialize in it, rather than being a jack of all trades.

Setting Up Clear Goals:

It’s important to set clear goals for yourself and your business. This can help you focus your efforts and stay motivated as you work towards achieving your objectives. Some common goals for a travel agency might include increasing sales, expanding your client base, improving customer satisfaction, and building a strong online presence. By setting specific, measurable, achievable, relevant, and time-bound (SMART) goals, you can track your progress and make adjustments as needed to ensure that you are on the right track. It’s also a good idea to set short-term and long-term goals, as this can help you stay focused and motivated in the short term while also keeping an eye on your long-term vision.

Branding Your Business While You Deal With Legal Formalities:

It’s important to choose a unique and memorable name for your business, as well as develop a strong brand identity through logo design, website design, and marketing materials. In addition to branding, it’s also important to handle all of the legal formalities involved in starting a business. This includes obtaining any necessary licenses and permits, as well as registering your business, and complying with any regulations. By taking care of these details, you’ll be well on your way to building a successful travel agency in India.

Importance of Marketing:

When it comes to marketing and sales, there are a few key strategies to consider. For example, building a strong online presence through a website and social media can help you reach a wider audience and generate leads. Additionally, networking and building relationships with suppliers, industry partners, and other travel agents can help you secure better deals and establish your business as a reliable source of travel services.

Customer Service:

One of the keys to success as a travel agency is offering excellent customer service. This means being responsive to customer inquiries, providing personalized recommendations, and going above and beyond to ensure that your customers have a great travel experience.

In conclusion, starting a travel agency in India requires careful planning, research, and attention to detail. By following the steps outlined in this guide, you can set yourself up for success and build a thriving business in the competitive travel industry.

Remember to carefully research your target market and create a clear business plan that outlines your goals and strategies. It’s also important to establish partnerships with suppliers, such as airlines and hotels, and to invest in the right tools and resources to manage your bookings and operations efficiently.

Finally, don’t forget to focus on customer service and building a strong reputation. This can be achieved through effective marketing, providing a seamless booking experience for your clients, and going the extra mile to ensure that their travel plans are as smooth and enjoyable as possible. For tips to shine in a competitive market , check out the latest blog to get the complete knowledge of the travel business in a few paragraphs.

With the right approach and a dedication to providing top-notch service, you can build a successful travel agency in India and carve out a place in this exciting and dynamic industry.

Also Read- Choosing the Best B2B Flight Booking Portal for Travel Agent: A Comprehensive Guide

Choosing The Right B2B Portal: Key Questions to Consider Before Making a Decision

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“It will be much more about responsible travel now. We are going to value our freedom a lot more" – Deep Kalra, Founder of MakeMyTrip on impact of Covid on travel industry

The travel and tourism industry is one of the largest industries in India, it's a major driver of economic growth globally. India's tourism industry is experiencing a good period of growth, driven by the flourishing Indian middle class, growth in high spending foreign tourists and coordinated government campaigns to promote 'Incredible India'. But Due to restrictions linked to Covid-19, the number of foreign tourist in India during 2021 decreased to 1.52 million compared to 2.74 million in 2020, dropping by 44.5%, though foreign exchange earnings grew during the same period, as per the India Tourism Statistics 2022 report. In 2019, India saw 10.93 million foreign tourist arrivals, which dropped by 75% in 2020.

In 2021, the travel and tourism industry in India contributed around 178 billion U.S. dollars to the country's GDP. Just a few days ago the Indian government has said that the country's tourism sector will recover to the pre-pandemic level by mid-2024 , they also said that by 2030, the tourism sector will contribute $250 billion to the country's gross domestic product (GDP).According to the recent India Travel Market Report by Phocuswright, the total Indian travel market stood at US$19.1 billion in 2021 and is expected to reach $40.4 billion in 2025, with online penetration reaching 58% in 2025.

The booming IT and outsourcing industry has led to a growing number of business trips made by foreigners to India. After Covid, along with work from home, a new trend has come, i.e., workcation for which travel companies are coming up with very good offers and packages. These plans comprise elegant and peaceful places to work with sightseeing and event sports in the evening. These packages are varied and diverse.

From choosing destinations to connecting with locals and customizing the holiday, the travel startup business in India is looking to add a new dimension to the ever-evolving traveling story.

Here is the list of successful tour and travel startups.

Travel & Tourism Industry in India - Key Highlights

Top Travel and Tourism Startups in India:

Pickyourtrail

Scoutmytrip, thrillophilia, travel triangle, extravelmoney, travel & tourism industry in india - key highlights.

Also Read: Travel and Tourism Industry Trends in 2021: Post-Covid Scenario

Top 20 Travel and Tourism Startups in India

MakeMyTrip is one of the oldest travel startup in India . The inspiration for this startup came to Kalra when he was booking a holiday to Thailand. He realized that the internet could offer more competitive prices by cutting out the middleman. MakeMyTrip's mission is to provide customers a one-stop-shop for all their travel needs by providing online travel services that include flight tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets.

Cleartrip, headquartered in Mumbai , was founded by Stuart Crighton, Hrush Bhatt in the year 2005. The company operates an online travel aggregator website for booking flights and train tickets, hotel reservations, and activities in India and the Middle East countries. Cleartrip is one of the few business travel startups in India. It has offices across India, UAE , Saudi Arabia, and Egypt. Cleartrip is another travel tech company in India, started its services to the Persian Gulf nations of Oman, Qatar, Kuwait, Bahrain, and Saudi Arabia, UAE, Egypt. On June 21, 2018, Cleartrip announced the acquisition of Saudi Arabia-based online travel aggregator (OTA) Flyin.

Clear trip also operates -

Cleartrip for Business , an online corporate travel management tool. It is a business travel solution for companies
Agent Box , a travel tool for travel agents.
Cleartrip Mobile , a travel booking app for consumers.
Expressway , to let users store traveller profile and payment details securely to make one-click bookings.
Flexifly, a solution that enables flyers to change their travel date and time and switch flights between airlines without any hefty penalties.

Within few years goibibo became a big payer in travel industry . Goibibo acquired redBus in 2013 to enhance its product offering. The 2016 merger of MMT and Goibibo gave MMT depth of content and an access to a bigger consumer base. It's core value differentiator is the most trusted user experience, be it in terms of quickest search and booking, fastest payments , settlement or refund processes. Along with the usual services travel startups provide, Goibibo became the no 1 travel startup to introduce real travel booking currency named as Go Cash which can be used without any restrictions or limits of use .

In small towns, this start up company has built up good trust and about 48% of new users are associated with tier 2 and tier 3 cities, it has seen a 65% increase in transacting users since January this year and that it has been 'successful' in consolidating its position as the 'second largest' OTA brand in the country.

It is the largest hospitality startup from the list of top hospitality startups in India comprising budget hotels. It is usually one of the first names that pop up in people's minds when they think of cost efficient hotel bookings in India. The startup works in liaison with existing hotels and offers travellers vacant rooms at a cheaper price . OYO Rooms start at a nominal price of Rs. 999. Besides bulk renting hotels, they have also invested in their own properties as well. Click here to know how exactly OYO Rooms work .

The users can also opt for OYO Premium which provides a more-than-basic experience. OYO Rooms are located in the prime areas of the city and therefore they ensure travellers of having the best experience, it is also close to the best sight-seeing destinations and various dining options. The startup also raised an investment of $90 million from Softbank earlier in 2016. In 2019, OYO raised $1.5 Billion in Series F funding led by SoftBank Group , Lightspeed Venture Partners, and Sequoia India .

Hari Ganapathy and Srinath Shankar got the idea of the startup after their experience from a self-planned trip to Europe in 2012. This platform uses deep tech to let travellers create, customize and book international vacations . Pickyourtrail considers more than 40 factors like duration, travel time, ratings, etc to build personalized itineraries that travellers can further customize & book .

After the trip is booked, travellers can use Pickyourtrail’s app to keep track of bookings and get real-time information on flight and weather updates, restaurant recommendations, and on-trip chat support.

Their goal is to perform best in the tour and travel business when it comes to international trips.

ScoutMyTrip is a road trip planner , It works for all sorts of outings, from short weekend travels to long excursions.

The motive that the duo has been able to solve through their startup is to collate information that is currently very diversified. Basically it is an information portal that makes travel easy and accessible for anyone. The company plans to connect travellers with people who want to travel on any particular vehicle. It will also facilitate customised tour packages.

With artificial intelligence, customers can create an itinerary containing the information necessary for their road trip—gas stations, toilets, restaurants, hotels to stay, and points of interest. The human intelligence aspect brings in the ability to personalize information as per one's needs.

The corporate outdoor and experiential learning model adopted by Thrillophilia in its early days, has proven to be of great significance since it was fairly new concept in India.

Thrillophilia provides you with handpicked adventure travel options. It is best suited for travellers seeking an off-the-beaten-track package for sightseeing, sports, and adventurous activities like water rafting, snorkelling, bungee jumping, and skydiving. The travellers can also curate the best tours and authentic suppliers.

Travel Triangle operates their services with a versatile team of 450+ peopl e. Travel Triangle is operating as an online marketplace model bringing both travellers and trusted & expert travel agents on a common platform. Travel Triangle is a S aaS-based customer relationship management (CRM) platform to help them manage and analyse customer interactions and data.

goMowgli is a travel startup that had its name inspired by the fictional character we all loved growing up –Mowgli from Jungle Book. It has a fleet of buses across different states (using the concept of “hop-off buses”) and the travellers can buy a pass for a fixed number of days – a week or two. It is suitable for solo travellers and backpackers who want to travel without a fixed plan or do not want to get in trouble of booking cabs while traveling the city.

goMowgli claims to be India's first flexible bus network for travellers. Flexible bus network mean is you can catch the bus anytime you want from any place in their network, and get off anytime, at any place.

goMowgli will tell you the exact location of the nearest bus when you switch on the GPS feature on your smartphone. The app is growing in popularity very fast. At present, their revenue generation is basically based on the passes they sell (Rs. 1700/day) . And their marketing is mainly based on social media and word of mouth.

Tripoto is a Delhi-based startup founded by Anirudh Gupta and Michael Lyngdoh and one of the best travel startups in India. It allows users to create itineraries for their future trips that they can also share with other travelers. They can share their travel experiences, related content and pictures, itineraries, maps, stories, and reviews.

The startup has one of the largest communities of travellers in the world where people get a chance to share their travel experiences, discover unique trips and travel itineraries by other travelers and connect with them around the world through the website. Tripoto’s aim is to become the largest source of crowd-sourced travel content platforms in the world by enabling users to share their credible travel information.

ExTravelMoney is an online aggregator and marketplace for forex services that bring the hyperlocal eCommerce model to foreign exchange business and is helping users save money on currency exchange and money transfer from and to abroad. Users can use this platform to search for banks and money changers near them who offer these forex services. They can also compare the exchange rates and total cost of a forex service including the services fees, tax charges, even the rating of each forex store they are searching for.

The users can therefore make an informed decision based on this knowledge and book the cheapest and the best forex services near them directly from their app ExTravelMoney. If you are traveling in a foreign country, foreign exchange is an important component to plan. It isn’t easy to purchase forex due to the time and the hassle it takes in finding the best exchange rates. The website provides travelers with forex dealers across the country to bring them the best available exchange rate in the market and all they need to do is log in to their website, state their forex requirement, and then it connects you to the nearest forex dealer.

Nearify is an app founded by Mayank Kumar, Saurav Singh and Vivek Srivastava in 2012 that provides users with updated information on events that are happening around them. Like information on the city, major tourist attractions, and fairs & festivals happening in the area. All the user needs to do is to key in the name of the city to find listings of meet-ups, workshops, music concerts, and cultural hangout places in their close proximity.

It is best suited for travelers who want to know what’s happening in other locations of the place they are traveling to and wish to plan their itinerary and also don’t want to miss out on the social events happening in nearby cities or locations.

TripHobo is a Pune-based travel startup that has an innovative new travel platform where the collective effort of their dedicated team of travel enthusiasts. They are trying to transform its user's travel experience by making travel more sharable and personally tailored. The platform lets you connect with travel buddies around the world and hence makes your experience even richer and memorable.

TripHobo is a vacation planning website that is also the world’s leading vacation planning platform on which you can plan trips to about 150,000 destinations worldwide. It lets users discover great itineraries created by travellers just like them.

It's an online travel platform for travellers to explore travel destinations, plan and book their trips in advance. It allows users to dynamically create self-serviced customized travel packages after receiving inquiries from clients.

The users can also compare reviews and plan their activities and sightseeing for their trips, it also involves native wholesale suppliers who are responsible for the operational aspects of the business of your trip that includes ground handling and fulfillment. iTraveller has created more than 2 lakh trips featuring over 20 travel destinations across the globe and more than 60 native wholesale suppliers from across these destinations. The brand of iTraveller is now changed to Lastminute.

The mobile marketplace connects travellers with the local people in the city you are traveling to. These people are called “Sherpas” and are chosen after a thorough background check and verified authenticity. They offer numerous itineraries, popularly known as “micro tours”, from sightseeing, photography tours, and heritage walks and food walks to explore a location from the eyes of a local guide – Sherpa.

Sherpas can be from any profession and list experiences that will cost you less than Rs. 3,000 per participant. This is a unique feature that SeekSherpa offers, it helps you in traveling better by interacting with the residents of the place you are seeking to explore. This way, your trip is better, well experienced, and more memorable.

SOTC India is a leading travel and tourism company active across various travel segments including Leisure Travel, Incentive Travel and Business Travel . It is one of the leaders in segments, namely Escorted Group Tours, Customized Holidays, and Incentive Travel amongst others. SOTC offers customized holidays around the world, Corporate Tours and provides packages for MICE (Meetings, Incentives, Conferences and Events) related travel needs.

Travelling is one of the most exciting and important parts of our life. It teaches us a lot. These startups in the tourism industry in India are helping us to make our journey better, safer, and easier. If we have missed out on any travel startup in India, do let us know in the comments.

FAQs on Travel Startups in India

How to start a travel business in india or how to start a travel company in india.

Best tips to start a travel business in India or a travel company in India:

Step 1: Prepare a plan for your travel business.
Step 2: Brand your travel business along with dealing in legal formalities.
Step 3: Manage your funding strategy.
Step 4: Pick a great location and hire employees.

How to start an online travel agency in India?

The list of requirements to start an online travel agency in India :

Make a thorough research on your competitors and the market.
Find your own niche in the travel industry.
Build your team.
Take a call on a travel website or a travel software, or both.
Make a strategy for marketing.
Target a location.

Must have tools for startups - Recommended by StartupTalky

Convert Visitors into Leads- SeizeLead
Payment Gateway- Razorpay
Spy on your Competitors- Adspyder
Manage your business smoothly- Google Workspace

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India Business Travel Market

India business travel market report by type (managed business travel, unmanaged business travel), purpose type (marketing, internal meetings, trade shows, product launch, and others), expenditure (travel fare, lodging, dining, and others), age group (travelers below 40 years, travelers above 40 years), service type (transportation, food and lodging, recreational activities, and others), travel type (group travel, solo travel), end user (government, corporate, and others), and region 2024-2032.

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Market Overview 2024-2032 :

The India business travel market size reached US$ 38.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 76.3 Billion by 2032, exhibiting a growth rate (CAGR) of 7.6% during 2024-2032.

Business travel refers to the journey that is undertaken for work and business purposes. It is usually paid for by the employer through the in-house travel departments or external service providers. Business travel includes a wide variety of components such as sourcing and procurement, planning and booking, account management, and measuring and reporting. In India, business travel has gained momentum as it facilitates cost tracking and control for organizations while helping the employees adhere to corporate T&E policies, generating mass savings through negotiated discounts.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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The India business travel market is primarily driven by stable economic growth and decreasing airfares due to the introduction of new airlines. Additionally, as India has the capability of becoming a business hub, it is creating opportunities for corporates to open offices in the region. Along with this, tie-ups of several corporate organizations with the leading business travel providers to offer customized collaborative spaces and team-building exercises are positively impacting the growth of the market. Furthermore, increasing business activities in industries like healthcare, pharmaceuticals, and manufacturing, which are the largest end customers for business travel, are rapidly driving inter-regional operations.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India business travel market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on type, purpose type, expenditure, age group, service type, travel type and end user.

Breakup by Type:

Managed Business Travel
Unmanaged Business Travel

Breakup by Purpose Type:

Internal Meetings
Trade Shows
Product Launch
Others

Breakup by Expenditure:

Travel Fare

Breakup by Age Group:

Travelers Below 40 Years
Travelers Above 40 Years

Breakup by Service Type:

Transportation
Food and Lodging
Recreational Activities

Breakup by Travel Type:

Group Travel
Solo Travel

Breakup by End User:

Breakup by Region:

North India
West and Central India
South India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key questions answered in this report.

The India business travel market was valued at US$ 38.7 Billion in 2023.

We expect the India business travel market to exhibit a CAGR of 7.6% during 2024-2032.

The rising popularity of business travel for client meetings, brand and product promotions, employee training and incentives, etc., is primarily driving the India business travel market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary restrictions on domestic travel activities, thereby negatively impacting the Indian market for business travel.

Based on the type, the India business travel market can be segregated into managed business travel and unmanaged business travel, where unmanaged business travel exhibits clear dominance in the market.

Based on the purpose type, the India business travel market has been divided into marketing, internal meetings, trade shows, product launch, and others. Currently, marketing holds the total market share.

Based on the expenditure, the India business travel market can be categorized into travel fare, lodging, dining, and others. Among these, travel fare currently accounts for the majority of the total market share.

Based on the age group, the India business travel market has been segmented into travelers below 40 years and travelers above 40 years. Currently, travelers below 40 years exhibit a clear dominance in the market.

Based on the service type, the India business travel market can be bifurcated into transportation, food and lodging, recreational activities, and others. Among these, food and lodging currently holds the largest market share.

Based on the travel type, the India business travel market has been segregated into group travel and solo travel. Currently, group travel exhibits a clear dominance in the market.

Based on the end user, the India business travel market can be divided into government, corporate, and others. Among these, the corporate sector currently accounts for the majority of the total market share.

On a regional level, the market has been classified into North India, West and Central India, South India, and East India.

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How travel will emerge as a key contributor to India’s GDP

The Dharamshala Declaration 2022 highlights the significance of the travel industry in augmenting India’s GDP while promoting greater employment and allied benefits. Thanks to the Central Government’s enabling policy environment, the travel and tourism industry is expected to contribute $250 billion to the GDP by 2030, along with 137 million jobs, $56 billion in forex earnings and 25 million foreign tourist arrivals.

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Is Travel Business Profitable in India?

By Michael Ferguson

Travel is one of the biggest industries in India, and it’s been on the rise for quite some time. With the growth of the Indian economy, more and more people are choosing to travel in India, both for business and leisure.

This has created a thriving market for travel-related businesses, from tour operators to hotels and resorts. The rise in tourists coming to India has also helped create jobs in the hospitality sector and provided a platform for entrepreneurship.

The travel industry in India is estimated to be worth around $48 billion annually, making it one of the largest sectors of the economy. The growth has been driven by a number of factors, including increased international air connectivity and improved infrastructure. This has made it easier for people to travel around India, opening up new markets for businesses.

The online travel industry is also booming in India, with companies like MakeMyTrip leading the way. Online platforms make it easier for travelers to compare prices and book tickets quickly and easily. This has helped create an efficient market for travelers who are looking for good deals on airfare or accommodation.

The government has also taken steps to encourage tourism in India by allowing foreign companies to own up to 74 percent stake in Indian hotels and resorts. This has opened up new opportunities for foreign investors looking to invest in the hospitality sector. Additionally, tax incentives have been introduced to encourage investment into travel-related businesses as well as infrastructure development projects such as airports and highways.

Overall, there is no doubt that travel business is profitable in India due to its strong growth potential. With increased air connectivity, improved infrastructure, government initiatives, and an expanding online market, there are plenty of opportunities available for entrepreneurs looking to get involved in this sector.

All things considered, it is clear that travel business is profitable in India due to its strong growth potentials and multiple opportunities available in this sector.

10 Related Question Answers Found

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Successful Travel Business Ideas in India 2023

By Editorial Tuesday July 12, 2022

Travel and tourism is the perennial industry on this planet. The industry can be roughly divided into two segments. These are national and international trips. T he US travel and tourism industry alone generates more than $1.5 trillion in economic output in one year . Out of the more than 25 sub-sectors of the industry, three sectors: catering, air travel and accommodation account for more than 45% of the total production. However, the accommodation segment takes the first position. In this article you will understand about the successful travel business ideas in India.

Air travel and gastronomy are also in second and third place. Undoubtedly, tourism in India has proven to be one of the most lucrative business opportunities over the years . The country is rich in culture and heritage and around a billion people travel to India every year. Not only people from foreign countries but also people in India travel across different states and cities to explore their beauty. The tourism industry has always been a satisfying industry from a business point of view. It’s not a commercial idea, but it offers numerous commercial opportunities.

With a variety of business ideas in the travel and tourism industry, the industry has achieved notable success apart from the financial stability, the tourism business is also exciting and thrilling. People rave about the idea of travelling for money and it could become a reality for you. Tourism business ideas are the most enduring and profitable business ideas in India. at this time due to the availability of several stunning locations in the country. When we talk about travel business ideas, most people only think of the tour guide business, but there is a wide range of them.

Travel Business Ideas 2022

Below listed are the most lucrative tourism business ideas in India . These business ideas are the leading income generators in the tourism industry.

1. Tourist Guides

Tour guides are one of the most well-known business ideas in the tourism industry. The demand for tour guides has always been high in the Indian market. There are several travellers visiting the unknown part of the nation who seek professional guidance to help them explore the place right. This tourism business idea offers a great source of income and does not require any investments. To become a tour guide of a specific area, you must have all the necessary data in place to guide your customers. You can also expand your business by collaborating with different tours and travel agencies.

There are numerous instances when one may encounter obstacles when travelling to a foreign country. Many travel companies offer travellers pre-trip insurance. to a new place that will only make up for the mishap. There is a great need for a solution that can help travellers in emergency situations. With the growing demand for such solutions, real-time travel assistance services are emerging. India Assist is one such tech app that helps foreign travellers by connecting them with the right solution in case of unforeseen circumstances such as medical emergencies, theft or luggage. Loss, Dispute and Transit, etc.

The world’s first real-time assistance service, India Assist, has researched more than 2,000 potential obstacles one might encounter while travelling to India and offers assistance. India Assist is also named Opportunity of 2019 by Franchise India due to its characteristics such as a low investment business model, zero-footprint, incredible operating profits and attractive return on investment.

2. Travel Agency

The travel agency serves to accommodate several tourists visiting an unfamiliar place . The travel agency is one of the trending tourism business ideas in India. Travel agencies offer different packages to customers from different cities depending on their budget. Travel agency deals in providing tickets, hotel reservations, pick-up and drop-off, tour guide, breakfast and professional guidance for clients in their journey. All of these products are part of your package and your hotel, several travel days will also affect your package.

3. Hop-On-Hop-Off Service

The concept of hop-on-hop-off (HOHO) is a very common term when someone is talking about western tourism. But in India, it is not a common phenomenon. This makes it another opportunity to explore. Hop-on hop-off tours allow you to hop on and off a bus to any destination of your choice without being tied to fixed schedules or ticket reservations. Help travellers get around the city independently. A travel tech start-up , goMowgli, has brought the concept to India, offering sightseeing tours in Kerala, Goa and Karnataka . goMowgli allows users to purchase a pass for a set number of days through its website and provides information on the location of the next bus. As HOHO is a less explored opportunity in the Indian tourism scene, this service appears to be a profitable venture .

4. Night Club

Before you start thinking about starting your nightclub, you need to consider several factors, most notably the scope of your business . It’s an area of big commercial investment, but it wouldn’t make sense unless it’s in a specific area. For example nightclubs in Goa is a great idea but at the same time opening a nightclub in Haridwar is a terrible idea. The city, therefore, plays an important role in this. Apart from those nightclubs, it is a great tourism business idea for young people who like to party in nightclubs after spending the whole day in the city. Nightclubs have proven to be a great source of interest for entrepreneurs looking for opportunities.

5. Photography Business

The photography business is another great way to make money in the tourism industry. If photography and travel are your passions, then this business idea would be perfect for you. a professional camera. So in this scenario, they just want to teach them professional photography skills and beautiful travel photos. You can start this business on your own and make all the investments you need. It is a digital camera. So it’s a great low investment one-man business that you can start yourself.

6. Tourism Blogger

Tourism blogs, like any other business blog, are also very trendy these days. Advancement in digital marketing has made the blogging business flourish and now there are millions of opportunities in the blogging world depending on your niche. A travel blog is a great way to make money in the tourism industry . People always search the internet for the place they are going to visit before their trip to get all the useful information. Blogging is now a great way to make money in any field and it requires very little investment.

Is Travel Business profitable in India?

The travel sector is growing phenomenally as Indians book tickets on the go. With the market set to grow from 18 million to 3.05 billion outbound travellers over the next 57 years, there’s a fleet of travel start-ups in the market right now, but one of them claims it’s turned profitable this fiscal year. The average annual salary for travel agents is around Rs 28 lakhs (on average), the lowest annual salary is Rs 14 lakhs and the top earners in this industry earn over Rs 50 lakhs . The median wage is calculated by having half of the workers earn less than this amount and the other half earn more.

Is owning a travel agency profitable?

Full-time independent agents and independent contractors sold less than half of the trips, averaging $388,684, and generated revenue of $47,502, or 12.2%. Corporate agents booked much higher volume, averaging $1.11 million per agent, but the percentage return on those sales was much lower, averaging $90,713, or 8.1% . Travelling telemetry nurses have one of the highest paying jobs in travelling nursing, earning approximately $130,870 per year. This salary equates to $62.92 per hour, $2,517 per week, or $10,910 per month.

Online Travel Business Opportunities

What are the opportunities in tourism.

Tourism and hospitality create diverse employment opportunities in different sectors such as accommodation, catering, transport services, travel agencies, tour operators, and natural and cultural attractions. The travel industry has grown exponentially in recent years. One of the many factors responsible for the growth of this industry is the increase in consumer purchasing power. Technological advances have proven to be the most important $6 trillion in 2020. With the easing of pandemic restrictions and increased business opportunities in the tourism industry, these numbers are expected to continue rising. To differentiate in the travel industry, entrepreneurs need to identify the right business model and the ideal travel and activity booking software to successfully launch an online travel marketplace. Here are some online business opportunities in the travel and tourism industry .

1. Online Hotel, Flight and Rental Car Booking Marketplace

With digitization taking centre stage, people are turning to Google and searching for places to visit. Before the trip, transportation and accommodation are two important elements to consider during the research phase.

2. Run Vacation Rental Booking Marketplace

Booking hotels and taxis cost more money than renting accommodation . It all started in 1996 when a couple in Colorado was looking for a way to rent their ski condo and created a website. On the rental reservation, owners list their apartments/condominiums/condos for rent. Travellers can search for rental locations in their desired areas and choose the one that suits them best in terms of size, cost, location, etc.

3. Launch Online Travel Discussion Platform

This platform makes it easy for travellers to decide whether or not to take the trip and if so, what is the best option during the trip. These platforms provide advice to help people find the best travel destinations and inform nearby tourist spots about the travel destination. through user-generated content (UGC).

4. Online Travel Adventures Booking Marketplace

Travel should never be limited to sightseeing, trying different cuisines and exploring museums. Many travellers often wanted to experience new adventures and focus on experiencing a city/country. This demand opened up opportunities for business owners to invest in a company. Equipment rental market – a profitable business idea. While the nature of travel has evolved over the years, the industry came to a premature halt during the pandemic . Now in the thick of it with the easing of travel restrictions and people’s growing interest in seeking adventure, adventure booking websites are gradually returning to normal. People are looking for different travel destinations that offer unique adventures to go on. For example, places like Australia and New Zealand offer skydiving, jumping and bungee jumping adventures, while Turkey offers the subtle hot air balloon adventure, Costa Rica offers rafting and the list is endless.

5. Online Bike Rental Marketplace

Sharing economy companies have thrived over the years, especially after the advent of Airbnb . The peer-to-peer (P2P) marketplace for bike rental is one of those collaborative business ideas where trusted bike owners connect with users who want to rent or borrow a bike. Renting a bike is extremely popular, especially in cities where people commute amid traffic congestion.

The tourism business industry is full of opportunities for entrepreneurs seeking choices for their start-up. It’s an ever-growing industry as a result of individuals are continually getting to travel. And once we narrow down the tourism business opportunities to merely Bharat then you may feel that our country is full of wonderful locations, picturesque destinations from north to south. thanks to the supply of numerous traveller places in India and also the fact that it is popular among foreign tourists and the share is increasing, India could be a great spot to have a tourism business because the opportunities are endless and it conjointly makes a fairly exciting career possibility that we tend to all ask for in our life.

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How to Start Travel Business in India

Post author: Kanakkupillai
Post published: March 4, 2022
Post category: Business Tips / General

How To Start Travel Business in India

In India, Travel and tourism industry is one of the largest one and significant employment generators.). According to the UN’s World Tourism Organization (UNWTO), the travel and tourism industry offers 6-7 percent of the world’s total jobs honestly and much more indirectly through the multiplier effect. Among 184 countries in terms of GDP contribution and the tourism industry, the travel and tourism industry in India is ranked 12 th and the tourism industry in India is set to grow at 7.8% per year during 2013-2023. Tourism is growing at a rate of 14% annually. Quite a popular business in India. Even if you don’t, consider Travel Business Opportunities. A travel agency is extremely profitable when done right. The licensing of all tour operators / travel agents / excursion agents / tourist transport operators will be mandatory and no one can operate in NCT of Delhi without grant of license, irrespective of the size of business turnover. The process of becoming a travel agent is very easy as you require a high school diploma to become one. On top of that many employers prefer additional formal training along with good communication and computer skills among the travel agency applicants. Moreover, it is always preferable by an employer if you have a college degree and certificate in Travel and Tourism.

Detailed Procedure To Start Travel Business in India

Step 1: Decide the name of your company. Make sure to give a unique name of your travel agency that is not similar or identical to any other company. And register the name on the Ministry of Corporate Affairs. Check your company name availability here.
Step 2: Register a Trademark Name for your company.
Step 3: After registering your company name immediately book a domain name of your travel agency. This will create an online presence of your company and will help if you want to start an online travel agency in India.
Step 4: Register your company as a private limited company, Limited Liability Partnership (LLP), or One Person Company (OPC) . For entrepreneurs, a private limited company is a must for those who have plans to offer their services online.
Step 5: Get a GST registration of your company.
Step 6: Register for a current bank account on your company name.
Step 7: Decide the place you want your office and get a laptop, phone, and wifi connection.
Step 8: Decide your product in which you want a deal, for example, Visa, forex, domestic packages, international packages, MICE, Air ticket, or Hotels.
Step 9: You need a Global Distribution System(GDS) to do air ticketing. You can start with GDS in India for example(TBO) or tie-up directly with Airlines as they travel agent programs too.
Step 10: For hotel booking directly do a tie-up with hotels and ask their B2B rates or tie-up with companies as a travel agent.
Step 11: Start promoting holiday packages for honeymoons and family vacations and approach colleges and pharmaceuticals for group packages.
Step 12: Start promoting your travel agencies on portal like just dial and through Facebook ads.
Step 13: As the tourism market is very competitive keep profit according to the trends.

Registration & License Required For Travel Business in India

Before entering a business, you have to take the license and registration of the company. There are two ways to start a travel company. The one is tradition and the other is the smart way. First, we will talk about the traditional way to register a company. First, contact any C.A with an appointment. He will ask you to come with a bunch of papers, that you have to submit him and then you will get the approximate date of registration of your company. This process takes a little bit of time. Another smart way for travel company registration . There are plenty of startups out there. Including those that would be a one-stop solution for all your legal and financial needs to start your business in India. There are many companies of C. A who assures that they will register your company easily without running around to multiple places for documents.

The trade association for world airlines is known as the International Air Transport Association (IATA).This institution offers comprehensive training and professional development services for travel agents. Being IATA accreditation help the travel agency to attain seal of approval recognized worldwide.

Registering Trademark

In today’s competitive world it is very significant to protect your brand name and logo from being exploited by the competitors. Also, it helps the owner to obtain exclusive rights over the trademark.

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What’s Driving India’s Business Travel Recovery?

Peden Doma Bhutia , Skift

March 4th, 2024 at 7:08 AM EST

Ever tried sealing a deal with Indian businesses through a computer screen? It isn't easy. Indians are all about face-to-face meetings and building real connections. No wonder business travel in India is bouncing back quicker than elsewhere.

Peden Doma Bhutia

India’s business travel spending is set to reach $38 billion this year, with a projected full recovery to pre-2019 spending levels by 2025, according to the Global Business Travel Association (GBTA).

One factor is that 86% of business travelers consider travel necessary for meeting their business goals, according to Sunny Sodhi, managing director of FCM Travel India.

“Companies prioritize in-person interactions with clients and suppliers to expedite projects. Professionals also embark on business trips to participate in meetings, events, and seminars,” Sodhi told Skift.

In 2023, India’s business travel spending surged by almost 25% reaching 78% of pre-pandemic levels. In 2024, the projected growth in business travel and meetings and events, is likely to grow 18%.

India is the ninth-largest market globally for business travel expenditure and the fourth-largest in the Asia Pacific region.

Business travel in India is recovering faster than in other markets. Online travel agency MakeMyTrip has also talked about how its corporate travel platform has been gaining traction .

Aiming to focus on corporate travel, Cleartrip last month launched “Out of Office,” a corporate travel management product.

How And Where Are Corporates Traveling?

The trend of blended travel mixing business with leisure has gained momentum among Indian corporates, noted FCM. Sodhi shared that almost 79% of Indian business travelers extended work trips for leisure, surpassing Asia Pacific figures and aligning closely with global trends.

Noteworthy shifts in demand through FCM Meetings and Events include a surge in wellness activities and curated luxury experiences. Think walking tours in Maasai Mara and dinner along the Mara River — some activities that FCM recently organized for its clients.

Emerging destinations for meetings and events for Indian corporates comprise Central Asia and Vietnam, and this Sodhi said was mainly due to the simplified visa procedures and enhanced flight connectivity.

“Asia has continued to outperform, with a significant 44% increase in revenue. This is fueled by strong performance across Southeast Asia, India, and the re-opening of China,” said Bertrand Saillet, managing director of FCM Travel Asia.

And Now The Challenges…

Despite progress, challenges persist, such as geopolitical uncertainties, economic volatility, flight disruptions, and health concerns.

According to Sodhi, addressing these obstacles would require industry and market diversification to reduce dependence on specific regions or sectors. “We have to be adaptable with our travel policies to navigate such uncertainties.”

Business travel in India is also evolving rapidly, driven by technological advancements reshaping travel experiences, he said.

Sodhi also noted a growing demand for quality data. He said this has prompted FCM Travel to leverage data insights to tailor travel policies and experiences.

The Skift India Summit from March 19-20 in Delhi-NCR, will be deciphering the big trends facing the travel industry. The event will provide an opportunity to hear from leaders across all sectors, including tourism, hospitality, aviation, experiences, and more.

Skift India Summit Registration

Discounted price of $495 (Solo) and $445 (Group) for a limited time only. Full-price tickets are $745 (Solo) and $695 (Group).

Opening night event
All Forum sessions
Networking options

Bring the team and take your company to the next level.

Multi-registration discounts

Please read our FAQ for details about refunds, safety procedures, and other details .

Subscriber Benefits

Subscribers to Skift Research, Skift Pro, Daily Lodging Report, Skift Short-Term Rental Report, and Airline Weekly receive discounts off full-price tickets to in-person events. Visit our Subscriber Benefits page to find your discount code .

Online Attendees

A limited number of free online tickets will be released in the spring for paid subscribers.

Have a confidential tip for Skift? Get in touch

Tags: asia monthly , business events , business travel habits , business traveler , cleartrip , corporate travel , corporate travel management , fcm , gbta , makemytrip , mice , visa waiver

Photo credit: Business travel in India is recovering faster than in other markets.

AI Summary to Minimize your effort

Most Profitable Business in India 2022

Updated on : Oct 28th, 2022

10 min read

India is a growing economy with ample business opportunities. The Indian government is providing immense support to startups and new businesses. Thus, many plan to start a business and become leaders in their chosen fields.

However, before starting a business, an individual should understand the market, industry and competition of the business he/she wishes to establish. There are many business ideas, but here are the top 10 most profitable businesses in India.

1. Cloud Kitchen

Cloud kitchen is also known as a ghost or virtual kitchen. Cloud kitchen means selling food online. It focuses on fulfilling food orders received online and their delivery. It is one of the most profitable business ideas in India.

There is no requirement to have a commercial place to prepare the food orders received online. Food can be prepared from home, packed and delivered to the customers. It requires low investment as the costs of rent for kitchen space, servers, etc., are saved. All it requires to run a cloud kitchen business is a smartphone and cooking skills.

You can contact online food delivery platforms, such as Swiggy, Zomato, etc., and ask them to place your menu on their apps to receive food orders. When you prepare food on time, you will get more orders. Restaurants may also contact you for online delivery. In India, cloud kitchens are expected to grow above 50% year on year, thus, making it one of the best businesses to start.

2. Website Designing

With the growth of e-commerce, having a website is essential for all businesses. It is an identity for the business and a way to gain more customers. Most vendors and customers check a business’s website before associating with it. Thus, businesses require website designers and developers to maintain their websites and make them attractive with unique designs.

Due to the pandemic, many online businesses have emerged. Online businesses depend on their websites to make profits and sell their products/services. Thus, both offline and online businesses require a website designer. A website designing business does not require much investment. All you need to start this business is a laptop, technical skills, software and creativity.

Due to the high demand for website creation, it is considered as one of the most profitable businesses. As per the report by Adobe, 48% of people stated that website design was the primary factor in determining the credibility of a business. Plus, online shoppers in India are expected to reach around 220 million by 2025. Thus, website designing can be a highly profitable business in India.

3. Travel Agency

India is one of the top-visited countries in the world. India is vast in its area; thus, it has national and international visitors. There are many local visitors also who plan trips inside their respective states. There are many places to visit across the country, resulting in many travellers to India. After the pandemic, the travel business in India has gotten back to normal, with many people visiting India or travelling across states.

As per the World Travel and Tourism Council (WTTC), India ranks ten out of 185 countries for contribution in tourism to the GDP. Thus, a travel agency business is a profitable business in India. The travel agency business requires a small budget since most people book trips online through software or website. You can even start this business without having an office and contact your customers and guide them over the phone. However, you need to have a good knowledge of domestic sightseeing, itineraries, hotel rates and flight fares.

To run a travel agency, you must collaborate with multiple stakeholders, like hospitality and transportation. You can attract customers by giving them a good travel experience and service. You can also offer customised trips to your customers at their convenience to grow your business. You can grow your business by having a better relationship with service providers and low travel costs.

4. Interior Designing

The interior design market is booming in India. Indian middle class and high class are designing their homes with modular kitchens, lightning, smart furniture, aesthetic decorative items and innovative colour schemes. Thus, designers and design firms have a significant scope to make profits through interior designing business.

Plus, factors like social media influence, smart homes and lifestyle changes have led to a demand for interior designers. Interior decoration and design have become popular in architectural and design firms and social media. This field is witnessing many influencers, particularly on Facebook and Instagram.

When interior designing is done uniquely and creatively, it could yield good profits with low investments. You do not need much investment to start interior designing as you can do it from home and have an office in future. You only need to have a network to get the design materials at a low cost. As per reports, the interior design and renovation market is estimated to be between USD 20 billion and USD 30 billion in India.

5. Pharmaceutical Business

The pharmaceutical market in India is ever-growing with constant innovation. The pharma sector was not affected by the pandemic. In fact, it was one of the few sectors with high demand during the pandemic. The pharmaceutical sector will never face a loss since medicines are a basic requirement. Thus, it is one of the most profitable business sectors in India.

You can enter the pharma business in more than one way. However, you will need to have the required qualification to run this business, investments and the workforce for research, engineering, manufacturing and procuring raw materials. The pandemic increased the purchase of drugs over the past months. At present, India is reportedly the world’s largest generic drug exporter.

The revenue in the financial year 2020 was USD 55 million, indicating the scope for profit in this business. However, the pharma industry is highly competitive, with a large workforce including engineers and scientists, entrepreneurs and businessmen who are a part of the distribution process.

6. Event Management

In India, people celebrate all types of events, either on a small scale or a grand scale. Many events, such as baby showers, birthdays, weddings, store openings, product launches, etc., require an event manager. People have started to go out, and events are being held without any restrictions. Thus, even though the event management business faced a loss during the pandemic, the demand for event management has resumed.

The event host will not have time to arrange all aspects of the event, such as flower decoration, food preparation, creating a menu, photography, etc. Thus, they will hire an event manager or event management company to take care of the preparations. You can start an event management business without an office as you can discuss the event preparations with your clients at your home or their homes. However, you will require communication skills, workforce and contact with vendors to arrange for the events.

You need to be prepared to be on your feet to run this business since you will have to check out venues and have meetings with vendors. You also require networking and managing skills. The success of your depends on the brand image and reputation, which can be built through online marketing strategies.

7. Online Classes

Online coaching classes are one of the most cost-effective and profitable businesses in India. An online coaching class need not be a tutoring class for school and college students in a subject of your expertise. It can be in any field of your expertise, such as dance, singing, photography, cooking, baking, painting, yoga, etc. They are an excellent business option with huge profits and broader market reach.

You do not need huge investments to start an online class. You need a good internet connection, space and time to conduct the class. You also require expertise in the subject or field to conduct the class. You can take classes on video platforms like Google Meet and Zoom. The pandemic has also helped online classes earn profits as teaching has transitioned from offline to online.

You can advertise your classes on social media or through word-of-mouth recommendations to get more students. You can also customise your online classes’ timing as per the student’s convenience and keep it flexible to earn more profits. It also saves the time and cost of commuting to the class. Thus, making the online coaching business an ever-growing field in India.

8. Placement and Hiring Service

The placement and hiring service is in demand nowadays. Since the pandemic and the economic slowdown, many have lost their jobs and are changing jobs. The placement services business helps job seekers find the right jobs and help them to get placed in companies. The job seeker shares their resume and the job they want with the placement services company. The company helps them find a related job and charges a fee for the same.

Your placement services company should have contact with companies to place job seekers. Thus, make public relations and have contact with companies and job seekers. You can contact companies and ask them to call you when they need placement. Many companies also approach the placement services business and ask for candidates when required.

Human Resource (HR) is an integral part of an organisation, and good recruitment helps a company grow. However, you must plan the market strategies to build contact with companies. You can do social media marketing through regular posts or create your company website. Thus, having tie-ups with companies and placing good employees with them makes this business a low-cost and profitable business.

9. Real Estate

Due to booming globalisation and rationalisation and the rise in companies in all cities, many people are searching for a good property to settle in. Thus, real estate companies have gained importance. The agents of a real estate company showcase properties or flats for sale and rent to clients. They earn a commission when the clients purchase or take rent of these properties or flats. You can earn a 2% to 6% commission on the property value or rented amount.

However, the real estate business requires a lot of capital for high returns. You need to have convincing skills to sell the property. You need to have an office and knowledge of properties and their documentation process. Impressive communication skills will help your business grow. A survey forecasts that real estate in India is expected to reach USD 1 trillion market size by 2030 from USD 120 billion in 2017 and contribute 13% of the GDP.

10. Cleaning Services

People do not have time to clean their homes due to a modern and fast-paced life. There is high demand for trustworthy maids and cleaning services in the cities. You can start a cleaning service business, tie up with flats and provide trustworthy maids to residents of an area. You may also offer to clean commercial establishments such as shops, stores, small offices, etc.

You need not have an office to start this business. You can start it yourself and single-handedly clean homes and commercial establishments. As your business grows, you can employ maids who will clean houses. You will require housekeeping skills, mops, brooms, and cleaning materials. You can advertise your business on social media platforms to increase your reach. You will receive more clients when you offer professional services, and your business will profit.

Disclaimer: The materials provided herein are solely for information purposes. No attorney-client relationship is created when you access or use the site or the materials. The information presented on this site does not constitute legal or professional advice and should not be relied upon for such purposes or used as a substitute for legal advice from an attorney licensed in your state.

About the Author

Mayashree Acharya

I am an advocate by profession and have a keen interest in writing. I write articles in various categories, from legal, business, personal finance, and investments to government schemes. I put words in a simplified manner and write easy-to-understand articles. Read more

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The Most Profitable Businesses in India: A Comprehensive Guide for Entrepreneurs

Final Conclusion

In conclusion, India is a land of opportunities, and many profitable business ideas can be explored. While starting a business, it is important to do thorough research and plan accordingly to ensure its success. With hard work and dedication, anyone can start a successful business in India.

Here are some FAQs about the most profitable businesses in India:

Q: What is the most profitable business in India? A: The most profitable business in India depends on various factors, such as market demand, competition, and investment required. However, some of the most profitable businesses in India are e-commerce, food and beverage, healthcare, education, real estate, renewable energy, and travel and tourism.

Q: How can I start a profitable business in India? A: To start a profitable business in India, you need to identify your niche, conduct thorough research, develop a sound business plan, and secure funding. It’s also essential to comply with legal requirements and regulations and establish a strong marketing and sales strategy.

Q: What are the challenges of starting a business in India? A: Some of the challenges of starting a business in India are a complex regulatory framework, bureaucratic red tape, corruption, limited access to funding, and high competition. However, with the right approach and support, it’s possible to overcome these challenges and start a successful business in India.

Q: How can I finance my business in India? A: There are various ways to finance a business in India, such as self-funding, bootstrapping, angel investment, venture capital, bank loans, and government schemes. It’s essential to choose the right funding option based on your business needs, risk appetite, and investment requirements.

Q: How long does it take to start a business in India? A: The time taken to start a business in India depends on the type of business and the legal requirements involved. Typically, it can take anywhere from a few weeks to a few months to start a business in India. It’s essential to prepare all the necessary documents and complete the legal formalities to avoid any delays in the process.

Q: Can foreigners start a business in India? A: Yes, foreigners can start a business in India under the Foreign Direct Investment (FDI) policy. However, there are certain restrictions and regulations to follow, and it’s essential to comply with the Foreign Exchange Management Act (FEMA) and other legal requirements.

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Top 10 Most Profitable Businesses In India [Best Business Ideas]

Table of Contents:

1. Best Business In India

2. Most Profitable Businesses In India

3. Most Profitable Business Opportunities In India

4. Best Low Investment Businesses In India

5. faqs on profitable business ideas in india, 1. best business in india in 2022.

We're in 2022, and this year is expected to be one of the most rewarding years for you, if you're planning to start a business in India. From advancements in technologies such as BNPL and contactless payments to government initiatives for MSMEs, 2022 could be indeed one of the best year for you, if you're looking to start a new business. To help you out, we have listed some of the top profitable businesses that you can start. After the beginning of the COVID-19 pandemic in 2020, there has been a drastic change in the user behaviour and priorities, and people are now more inclined to online businesses than before. Market trends are constantly changing everyday, as a result, the businesses such as cloud kitchen, online bakery, and digital marketing services have seen a massive boom . In a nation like India, which is a fast developing country, there are always new avenues for investment and exploration. However, the overall state of economy and society play a vital role in determining the demand for various services and products.

With the growth of e-commerce and artificial intelligence, the digital sector of India continues to boom. Also, there is an increase in the per capita income of the average Indian, hence increasing the disposable income. Products which were perceived as wants are now classified as needs and there is an overall shift towards better standards of living.

Here, in this article, we'll take a look at some of the best businesses ideas in India.

2. Most Profitable Businesses In India [2022]

Soon after the COVID 19 lockdown, there has been a paradigm shift in the user behaviours. With work from home being the new normal, the demands for certain things has risen, especially in Tier II and Tier III cities. This is the reason why most of the people are switching to businesses. If you're also one of those people, we have listed best profitable businesses in India in 2022 for you.

Website Designing
Interior Designing & Decoration
Real Estate
Building Materials
Wedding Planning
Pharmaceutical Business
Travel Agency
Organic Farming
Food & Beverage Business
Cloud Kitchen
Home-based Bakery
Virtual Event Planning
Online Tuition
Online Saree Business

1. Website Designing: A profitable business for techies

Blogging and digital marketing are some of the most popular options for employment. This has created a heavy demand for online resources. Almost every firm today has a website of its own. According to a report by Adobe , 48% of people cited that the design of the website was the primary factor in determining the credibility of a business. Furthermore, the lockdown has rendered physical spaces almost obsolete. Reports note that online shoppers in India reached 120 million in 2018 and are expected to reach around 220 million by 2025. This high demand for websites makes it one of the best businesses in India.

Also Read: How to start website designing business?

2. Interior Designing and Decoration: Best business for the creative folks

According to reports, the market for interior designing and renovation in India is estimated to be between USD 20 Billion- USD 30 Billion. Aesthetics is no longer a concept in the homes of the uber-rich. A large number of middle class families are opting for modern kitchens, fancy interior decorating, quality upholstery and new colour schemes. There is also a high demand for furniture and lighting, especially antiques. As a result, interior designing and decoration had become a popular topic in not just architectural and designing firms, but across social media as well. The domain is witnessing a large number of influencers particularly on Instagram and Facebook. Undoubtedly, it is one of the most profitable businesses in India.

Also Read: How to start interior designing business?

3. Real Estate: A booming business in India

Real estate has always been a thriving sector in India. The real estate sector in India is expected to reach US$ 1 trillion by 2030 . Rapid rate of urbanisation, as well as a growing rate of nuclear families, real estate is a booming sector across India. Housing sales alone reached 2.61 lakh units across seven major cities of India in 2019. However, a real estate business is quite expensive. It requires a high amount of capital for high returns, and lower investments do not fetch much profits. Indeed, it is one of the best business in India.

Also Read: How to start real estate business?

4. Building Materials: 'Make in India and Build in India'

When we talk about the best businesses to start in India, we must not ignore building materials business. With a growing market for real estate, one can also expect an increase in building materials. This is particularly with steel, as current trends indicate that India might grow to become the second largest exporter of steel. Reports suggest that Indian steel industry would produce about 300 million tonnes by 2029-2030 . This demand is also fuelled by the growing auto industry. While steel is imported too, the government has recently placed a lot of emphasis on 'Make in India and Build in India'. These initiatives have been very successful in domestic production.

Also Read: How to start building materials business?

5. Wedding Planning: A business with huge potential

Gone are the days of two day weddings and a simple ceremony! India is seeing a spike in destination weddings or atleast themed weddings over the past few years. The wedding industry is developing so rapidly so as to inspire multiple cinemas and TV shows as well. The 'Big Fat Indian Wedding' market is around $40-50 million in worth and is growing at a rate of 30-40% every year. This is an excellent business option for a beginner as it caters to multiple income brackets and you can make a choice based on your budget.

Also Read: How to start wedding planning business?

6. Pharmaceutical Businesses: A business that you can rely on

Next on our list of best business in India is the pharmaceutical business. Today, India is reportedly the world’s largest exporter of generic drugs. The Indian pharmaceutical market is the fastest-growing and the most competitive amongst all in the world. The revenue in financial year 2020 was $55 million, clearly indicating the scope for profit in the domain. The pandemic has increased the purchase of drugs further over the past months. The industry is very competitive with a large workforce including scientists and engineers, as well as entrepreneurs and other businessmen who are a part of the distribution.

Also Read: How to start pharmaceutical business?

7. Travel Agency: For the wanderlusts

India is a very common tourist destination owing to its picturesque landscapes, stunning architecture as well as myriad cultures. Starting a travel agency anywhere in India is sure to fetch a significant profit. According to the WTTC, India ranks 10 out of 185 countries for contribution of tourism to the GDP. However, the business will require good collaboration between multiple stakeholders such as for, hospitality and transport.

Also Read: How to start a travel agency?

8. Organic Farming: One of the most popular businesses in India

Organic farming has become extremely popular in India. Recent concerns over chemicals used as pesticides as well as preservatives has propelled a lot of people to explore the organic farming market. One can enter the organic farming business in two capacities- as a cultivator of the crops or as the distributor of the same.India comprises close to 30 percent of the total organic producers across the globe.

Also Read: How to start organic farm business?

9. Food and Beverage: A business with good profit margin

India is the fastest growing economy in the world with 1.25 billion consumers of food and beverages. It is home to a large variety of cuisines, each of a different flavour and appeal. These are primarily due to the use of a number of spices during cooking. Exporting of these spices is a very lucrative business idea. Most of these spices are produced in small scale industries . Once a network is developed, and export permits are obtained, the business can be highly profitable as India is one of the largest exporters of spices. Similarly, taking up franchise of a beverage chain can also reap significant profits. These all factors make it one of the best types of business in India

Also Read: How to start cooking business from home?

10. Labour Contractor: The business with evergreen demand

With, with a developing economy and a population as large as India, recruitment is undeniably one of the most happening sectors.Contract workers make up 34% of India's massive workforce. It is a fairly easy business to enter with minimal capital requirements. There are quite a few legal requirements around this business as you will be working directly with human capital. However, the business will always be on demand and is very viable for people with minimal financial investment.

11. Cloud Kitchen: A Futuristic-business

A cloud kitchen is also called a ‘ghost’ kitchen, delivery kitchen, or virtual kitchen. It is a commercial kitchen space that provides food businesses, facilities and services to prepare food. It focuses solely on fulfilling online food orders and delivery.

Cloud technology can facilitate online ordering at a low cost. A cloud kitchen can be a centralized commercial food production facility where several restaurants can share the resources and prepare food. The number of cloud kitchens in India is expected to grow at above 50% year on year, and it is one of the best businesses to start in 2022.

Also Read: How to start cloud kitchen business?

12. Home-Based Bakery: Trending Business In India

There is nothing better than following your passion and starting a business with it. If baking is your passion, it is time to use your skills and start a cake and bakery product delivery business from home. The set-up does not require much investment, and you can start by selling to family, friends, and neighbours and gradually expand to taking online orders.Hence, it is one of the top business in India that you should definitely consider

Also Read: How to start a home-based bakery?

13- Virtual Event Planning: For the party lovers

The pandemic has pushed organisations to resort to online event management, and you can see the influence of this strategy in small and large businesses alike. While the pandemic has been a curse to many companies, it has been a blessing to a few, including the virtual event planning businesses.Indeed it one of the best businesses that you can consider in 2022.

Also Read: How to start virtual event planning business?

14. Online Tutions: For life-long learners

Despite the challenges that have emerged in an era of online learning, there are various perks of online education. In a space designed for virtual learning, having the right educators and resources can help students thrive. Not only students but instructors can also avail themselves the maximum benefits by starting an online tutoring business.

Online classes have emerged as a significant career choice. Students are looking for online tuition, specifically at the graduation level. Online tutors for graduation level are more in demand these days. Thus, if you have the required knowledge in particular subjects along with the zeal of earning money online, you must consider providing online classes.

15. Online Saree Business: Growing Business In India

Online Saree Business in the current landscape can be extremely profitable. Sarees are always in demand in India. That’s why this industry has been consistently making profits. Due to the sheer variety that they offer, Sarees never go out of fashion. That, paired with the digital boom that we’ve been witnessing, is reason enough to start your online Saree business today. Although it can be overwhelming initially, Saree businesses are rewarding in the long run.

Also Read: How to start online saree business?

3. Most Profitable Business Opportunities In India [2022]

These are the top ten businesses that are currently flourishing in India. The Indian market is also home to many other ventures. Finally, it is the ability of the entrepreneur in terms of finance, skill and effort that determines the scope of development of any business. Let us walk you through ten most profitable business opportunities in India that you can start in 2022.

Digital Marketing Services
Content Writing
App development
Drop shipping Business
Home-based catering
Stock Photographer
Accounting Services
Medical courier service

By going through the above-mentioned ideas, we hope that you’re pumped up to explore these most profitable businesses in India.

There is an old-school thought that states that to start a business, you need high investment. Times have changed and the truth is completely different. Now in 2022, you don't need heavy investments and can easily start a business with zero investment . Check out the best business opportunities in India that need low to zero investment:

Paintings And Arts- If you are a painter or an artist, this could be the perfect zero investment business for you. You can sell your art pieces and paintings on various social media and online platforms.
Coaching Classes- You can start teaching junior classes to build confidence before targeting advanced classes.
Customised Gift Baskets- People need gift baskets for all occasions like anniversaries, birthdays, etc. This is a high-profit zero business idea to start your entrepreneurial journey.
Customised Printing On Merchandise- This zero investment business involves printing customised merchandise like t-shirts and caps. This small business idea is relatively easy to handle because payments are mostly made in advance.
Sell a service online- Many websites allow you to list yourself as a service provider like photographer, content writer, fitness trainer, dietician, etc.
Career Guidance And Counselling- Career guidance and consulting business can easily be started online, and you can work from home. You can list yourself on any online platform and provide students with online counselling.
Dropshipping And Resale Store- Dropshipping is a completely zero investment business where you act as a middleman between manufacturers and customers. In the resale business, you first purchase products at discounted prices and then sell the same to other customers at higher prices.

Stay updated with new business ideas & business tips with OkCredit blogs in English, Hindi, Malayalam, Marathi & more! Download OkCredit now & get rid of your bookkeeping hassles. OkCredit is 100% Made in India.

Q. Which business is best in India?

Ans- There are a lot of businesses that are booming in India in 2022. However, online businesses such as cloud kitchen, digital marketing services, freelance writing services are some of the top businesses that are considered best in current times.

Q. What businesses are in demand in 2022?

Ans- These great business ideas will make you hit gold in 2022:

Medical Delivery Services
Consultancy Services
Counselling Service
Online bookkeeping eg: OkCredit
Online Reselling
Online Teaching

Q. Which business is highly profitable in India?

Ans- Event Management is one of the most profitable businesses in India. It is one of the few businesses that were still operational in smaller frequencies even during the COVID-19 Pandemic.

Q. What is the fastest growing business in India?

Ans- The Indian pharmaceutical market is the fastest - growing and the most competitive amongst all in the world. The revenue in the financial year 2020 was $55 million, clearly indicating the scope for profit in the domain.

Q. What is the best upcoming business?

Ans- These are the top 10 best business ideas for India (2022):

Online Courses and Coaching
Sell Custom Printed Products (T-shirts, Mugs)
Instagram Influencing
Youtube Channel (Food, Travel, Lifestyle)
Graphic Designing
Web Development Services
Starting an Ecommerce Business
Affiliate Marketing

Q. What is the easiest business to start?

Ans- The easiest business to start is the Service Business if you're a beginner. It is basically selling your skill, labour or expertise in the place of goods and products.

Q. What business is in high demand in India?

Ans- Indian handicraft items manufacturing business is in high demand in India. It helps in bridging the gap amongst customers and artisans and can be started via low investments. Hence, guaranteeing a future monetary benefit.

Q. What are some of the most profitable business in India?

Ans- Some examples of the most profitable business in India are:

Personal Training or Coaching
Food Trucks
Information Technology
Repairing Services (Plumbing, Automobiles, Phone)

Q. What are the most successful small businesses?

Ans- This is a list of the 10 most profitable small businesses :

Offices of Real Estate Agents and Brokers
Legal Services
Real Estate Leasing
Dental Practices
Outpatient Clinics
Financial Planning & Advising
Bookkeeping
Tax Preparation
Storage & Warehousing

Q. What are the different types of business ownership in India?

Ans. The following are the different type of business ownership in India:

Sole proprietorship
Private limited
Public Limited company
Co-operative organisation

Q. Can you suggest some small business ideas in India under Rs 10000?

Ans- Here is a List of Businesses You Can Start Within 10000 Rupees in India:

Candle Marketing
Copywriting business
Mobile Repair Shop
Tuition Classes
Homemade Healthy Sweets & Savories

Read the best of business ideas, tips for small businesses, the latest update on technology & more by OkCredit.

Details about Jane Street's top secret, $1 billion trade revealed in court

Jane Street is suing two former traders and Millennium over a highly lucrative trading strategy.
Jane Street aimed to keep details of the trade top secret, heavily redacting its complaint.
Details about the trade, including the country it involves, were revealed in court Friday.

Proprietary trading firms obsess over and are accustomed to an extraordinary level of secrecy — something that doesn't hold up well in open court.

Jane Street learned that the hard way at a federal court hearing on Friday over a temporary restraining order it requested against hedge fund Millennium Management . The restraining order, which Manhattan federal Judge Paul Engelmayer denied, was aimed at stopping Millennium from using a top-secret trading strategy Jane Street says two ex-employees pilfered to make money for Millennium.

It was the first hearing over a lawsuit representing a clash of two of Wall Street's most formidable and lucrative trading firms. In a heavily redacted complaint filed April 12, Jane Street accused former senior index options trader Doug Schadewald and his direct report Daniel Spottiswood of taking highly valuable trading IP with them when they left to join Millennium in February. Most details about the trade were redacted. Even the country the strategy focused on is highly confidential, according to Jane Street.

At Friday's hearing, Jane Street attorney Deborah Brown, a partner at Quinn Emanuel, argued that revealing the country would enable competitors to start digging into the signals and hedging strategies and figure out the trade.

Over the course of Friday's nearly two-hour hearing, however, it emerged that the strategy revolved around short-term options trading in India. Lawyers also revealed that the trade earned Jane Street $1 billion last year and was on pace to earn even more for the firm this year.

Name of secret country inadvertently revealed

Jane Street claims the trade, its most profitable, is highly confidential intellectual property. The firm even sought to have the hearing closed to the public, a motion Judge Engelmayer quickly dismissed.

Engelmayer said he wasn't comfortable with the level of secrecy, calling the presumption of confidentiality "way too broad." He specifically called out the redaction of the country where the trade takes place, allowing it to remain unnamed but suggesting the plaintiffs take a "more realistic view" of the standard of public disclosure in US federal court.

Brown argued that if more details emerge, the strategy, which Jane Street spent tens of millions of dollars building, "could evaporate" as new competitors pile in. But she also indicated that the strategy is related to short-term options, telling the judge the market in question "is not something people invest in long-term, more like a day."

On multiple occasions attorneys for the defendants appeared to slip up and mention the trade is tied to "India," apologizing afterward.

Attorneys for Millennium as well as Schadewald and Spottiswood said the trade is not so secret, arguing that the media has written about it extensively in the past year and that the government of the country overseeing the market has issued reports detailing the market's opportunities and inefficiencies.

"It's one of the largest if not the largest options trading markets in the world," Dechert attorney Andrew Levander, who is representing Millennium, said.

A March news report in The Wall Street Journal found options trading in India has exploded , with 78% of all global equity options contracts tied to the country in 2023. More than 84 billion stock index options contracts were traded in India last year — the vast majority short-term options — up 153% from 2022.

"In India, er, in this country — I apologize —" Levander started to in response to a question about why Jane Street's broker temporarily stopped processing its trade after Millennium entered the market. The defendants' attorneys argued that brokers in India have tighter margin restrictions than other markets.

A trade worth more than $1 billion

Jane Street is understandably antsy to keep its trade under wraps and out of the grasp of competitors. The firm made $10.6 billion in net trading revenue last year, according to bond issuance documents reported on by Bloomberg, and $4.4 billion in the first quarter of 2024.

The firm, which trades with its own capital instead of managing other investors' money like a hedge fund, began researching the trade in 2018 and spent tens of millions developing it in the succeeding years, reaching full maturity in 2023 and 2024. It became its most successful strategy, producing $1 billion in profits in 2023, according to statements from the attorneys and Judge Engelmayer in court Friday.

Other statements Friday suggest the trade was on pace for multiples of that amount in 2024.

Jane Street worried about extinguishing the trade's viability, Brown said, intentionally leaving short-term profits on the table to maintain its long-term viability. It endeavored to size its trades such that it avoided sending signals to the rest of the market.

But the company's profits from the strategy plummeted in the month after the traders joined Millennium, Jane Street says, falling 50% in March. The firm alleges the decline is attributable to the emergence of a new competitor — Millennium — whereas previously they were aware of no other firm executing a similar strategy.

Schadewald and Spottiswood were Jane Street's most profitable traders last year, Baker said.

Jane Street is one of the rare Wall Street trading firms that doesn't impose noncompetes on departing employees — which would require them to sit out months or years before joining a rival — instead relying on its confidentiality and trade secret agreements. The firm claims to have never previously sued a departing employee in its 24-year history.

Jane Street is not alleging the traders stole computer code or data — it's not a formula or software, Brown said, but rather trading signals and techniques that can be remembered in your head.

Attorneys for Millennium and the traders say they breached no trade secrets, arguing that external factors explain the drop in profit. Baker said a decline in volatility — a key factor in options trading — compared to prior months was to partially to blame. He also said that Millennium was trading at a fraction of the scale as Jane Street — 50-times less exposure — noting that Jane Street made $185 million during the relevant time period and Millennium made $4 million.

The $185 million figure, if accurate, suggests that Jane Street's Indian options strategy was on pace to generate multiple billions in 2024, even at the decreased monthly figure.

Who is ultimately right likely won't be decided until summer, when the parties indicated they'd be ready to go to trial.

Millennium is free to continue trading in the meantime. Engelmayer denied the temporary restraining order, saying Jane Street did not establish irreparable harm. Jane Street's claims are "undeniably serious," Engelmayer said, adding that the company has "identified smoke but hasn't established a fire."

Jane Street may believe irreversible harm has already taken place, given its desire to keep details of the trade secret, including the country it operates in.

But more disclosure about the trade seems inevitable as the firms head toward discovery.

Judge Engelmayer asked for updated filings from the parties by mid-next week with far fewer redactions.

Watch: Why Sam Bankman-Fried is facing up to 110 years in prison

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Dubai rains: Indian embassy issues advisory, asks reschedule of non-essential air travel

The indian embassy in abu dhabi has issued an advisory for indian passengers travelling to or transiting through the airport to reschedule their non-essential travel till flight operations normalise.

Updated Apr 19, 2024, 2:45 PM IST

Dubai International Airport on April 19 announced temporarily limitation on the number of inbound flights due to unprecedented weather conditions.

The Indian embassy in Abu Dhabi has issued an advisory for Indian passengers travelling to or transiting through the airport to reschedule their non-essential travel till flight operations normalise. The directions were issued after heavy rains lashed the United Arab Emirates (UAE) and caused flood-like situation.

The Indian consulate in Dubai has also operationalised emergency helpline numbers to assist passengers.

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In the advisory issued on April 19, the embassy said, "Due to disruption caused by unprecedented weather conditions in the UAE earlier this week, Dubai International Airport has temporarily limited the number of inbound flights. While the UAE authorities are working round the clock to ensure normalisation of operations, the situation is unprecedented. The Airport Authorities have advised that passengers may travel to the Airport ONLY AFTER final confirmation from the respective airlines regarding the departure date and time of the respective flights. In light of the above advisory, inbound Indian passengers travelling to or transiting through Dubai International Airport are advised to reschedule non-essential travel till operations normalise."

In order to assist Indian nationals at the Dubai International Airport, the Consulate General of India in Dubai has operationalised emergency helpline numbers which have been functional since April 17, the advisory added.

Dubai International Airport on April 19 announced temporarily limitation on the number of inbound flights due to unprecedented weather conditions.

Earlier in the day, Dubai’s flagship airline Emirates said that it is suspending check-in for all customers with onward connections through the city three days after a record storm swept the UAE.

Emirates, one of the world’s biggest international airlines, said the flights with onward connections would be suspended until 23:59 GMT on April 19 but customers travelling to Dubai as their final destination may check-in and travel as usual.

The Consulate General of India in Dubai emphasised that they are in constant touch with UAE authorities and airlines, facilitating connections between stranded Indian passengers and their families. It further stated that relief measures have been extended in association with Indian community organisations.

"We are in touch with UAE authorities and the airlines to facilitate stranded passengers. -Regular updates from airlines are being conveyed to travelers. - Relief measures have been extended in association with Indian community organizations," the Consulate General of India in Dubai said in a post shared on X (formally twitter) on April 18.

The CGI stressed in its post that the helpline numbers will remain active until the situation normalises.

(With inputs from agencies)

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Wipro Q4 results: Net profit falls 8% to Rs 2,835 crore

Wipro q4 fy24 results: the it firm's revenue from operations also experienced a 4% year-on-year decline to rs 22,208 crore, down from rs 23,190 crore in the corresponding period of the previous year..

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Wipro GE Healthcare to invest $960 million in India

Wipro's Q4 FY24 net profit dropped 8% YoY to Rs 2835 crore
Company's revenue declined 4% YoY to Rs 22,208 crore
New MD and CEO ptimistic despite challenging macroeconomic environment

IT services firm Wipro’s consolidated net profit stood at Rs 2835 crore in the fourth quarter of FY24, marking a 8% drop compared to Rs 3,074 crore in the same quarter last year.

During the reporting period, India's fourth-largest software services company's revenue from operations also saw a 4% year-on-year decline to Rs 22,208 crore, down from Rs 23,190 crore in the corresponding period of the previous year.

During the quarter, the IT services segment revenue for Wipro totalled $2,657.4 million, maintaining stability quarter-on-quarter but showing a 6.4% decrease compared to the same period last year. Additionally, the constant currency IT services revenue witnessed a slight quarter-on-quarter decline of 0.3% and a year-on-year decrease of 6.6%.

Wipro secured deals worth $3.6 billion during the quarter, with significant contracts amounting to $1.2 billion, marking a substantial 31% increase quarter-on-quarter and a noteworthy 9.5% rise year-on-year.

It may be noted that the company anticipates that revenue from IT services for the June quarter will fall within the range of $2,617 million to $2,670 million. This outlook translates to a sequential guidance of -1.5% to -0.5% in constant currency terms.

Srini Pallia, who recently assumed the role of CEO and Managing Director, said, “FY24 proved to be a challenging year for our industry, and the macroeconomic environment remains uncertain. However, I am optimistic about the opportunities that lie ahead."

"We are on the brink of a major technological shift. Artificial intelligence is transforming our clients’ needs as they seek to harness its power for competitive advantage and enhanced business value, he added. Published By: Koustav Das Published On: Apr 19, 2024

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The India business travel market size reached US$ 38.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 76.3 Billion by 2032, exhibiting a growth rate (CAGR) of 7.6% during 2024-2032. Business travel refers to the journey that is undertaken for work and business purposes. It is usually paid for by the employer ...
How travel will emerge as a key contributor to India's GDP
Tourism Growth: The Dharamshala Declaration 2022 highlights the significance of the travel industry in augmenting India's GDP while promoting greater employment and allied benefits. Thanks to the Central Government's enabling policy environment, the travel and tourism industry is expected to contribute $250 billion to the GDP by 2030, along with 137 million jobs, $56 billion in forex ...
Is Travel Business Profitable in India?
Travel Agency is a business that arranges travel for individual customers or corporate clients and manages their entire trip, from booking flight tickets to hotel stays. It is one of the most profitable businesses in India and has been growing steadily over the years.
How to Start Tour and Travel Business in India?
Functioning as a travel agency in India can be a profitable venture for those aiming to underpin a stable revenue source for themselves. A sharp spike has been witnessed in the growth of the tourism sector in the recent past. Thus, it is the right opportunity to set up a tour and travel business in India.
5 successful tips to start a travel business in India
Step 3: Manage your funding strategy. In starting of the travel agency you need to manage the costing of all the equipment and assets requires in the business. Start with buying the less expensive ...
77% of Indian businesses to increase travel budget in 2023: Survey
Corporate travel across domestic and international destinations is expected to make recovery with as many as 77% of Indian businesses expecting a rise in their travel budget in 2023 as compared to 2022, said a survey conducted by American Express.The survey was conducted amongst over 500 Indian businesses across cities in India. "The sentiment is upbeat for corporate travel in India.
How To Start Tour And Travels Business In India?
A tour and travel business involves coordinating between local vendors and tour guides, booking for travel through land, water, or air, documentation processing as well as identifying and retaining a pleasant tour guide who will be the face of the company. 2. Tours And Travels Business Plan. To start a tour and travel business in India, the ...
What is the profit margin of travel agencies in India?
The average travel agent salary in India is ₹ 450,000 per year or ₹ 231 per hour. Entry-level positions start at ₹ 285,000 per year, while most experienced workers make up to ₹ 1,200,000 per year. Is travel business profitable in India? Travel sector is growing phenomenally with Indians booking tickets on the fly.
Successful Travel Business Ideas in India 2023
Below listed are the most lucrative tourism business ideas in India. These business ideas are the leading income generators in the tourism industry. 1. Tourist Guides. Tour guides are one of the most well-known business ideas in the tourism industry. The demand for tour guides has always been high in the Indian market.
How to Start Travel Business in India
Quite a popular business in India. Even if you don't, consider Travel Business Opportunities. A travel agency is extremely profitable when done right. The licensing of all tour operators / travel agents / excursion agents / tourist transport operators will be mandatory and no one can operate in NCT of Delhi without grant of license ...
What's Driving India's Business Travel Recovery?
India's business travel spending is set to reach $38 billion this year, with a projected full recovery to pre-2019 spending levels by 2025.
Most Profitable Business in India 2022
As per the World Travel and Tourism Council (WTTC), India ranks ten out of 185 countries for contribution in tourism to the GDP. Thus, a travel agency business is a profitable business in India. The travel agency business requires a small budget since most people book trips online through software or website.
Most Profitable Businesses In 2024
According to Statista, the top five most profitable businesses in the world are Saudi Aramco (valued at $156.4 billion), Apple (valued at $94.3 billion), Microsoft (valued at $69 billion), Exxon ...
The Most Profitable Businesses in India: A Comprehensive Guide for
A: The most profitable business in India depends on various factors, such as market demand, competition, and investment required. However, some of the most profitable businesses in India are e-commerce, food and beverage, healthcare, education, real estate, renewable energy, and travel and tourism. Q: How can I start a profitable business in India?
Top 10 Most Profitable Businesses In India [Best Business Ideas]
Best business ideas in India: Go through the complete list of top 10 most profitable businesses in India to start in 2022. Choose which one is right for you! ... Starting a travel agency anywhere in India is sure to fetch a significant profit. According to the WTTC, India ranks 10 out of 185 countries for contribution of tourism to the GDP ...
Busiest Airports in the World: Ranking
Here's a closer look at the top 10 busiest airports in the world. Advertisement. 10. Indira Gandhi International Airport, Delhi, India. Indira Gandhi International Airport. Tooykrub / Shutterstock ...
Details of Jane Street's Top-Secret $1 Billion Trade Emerge in Court
A March news report in The Wall Street Journal found options trading in India has exploded, with 78% of all global equity options contracts tied to the country in 2023. More than 84 billion stock ...
Dubai rains: Indian embassy issues advisory, asks reschedule of non
The Indian embassy in Abu Dhabi has issued an advisory for Indian passengers travelling to or transiting through the airport to reschedule their non-essential travel till flight operations normalise.
India's Tamil Nadu State to Pull Out All Stops to Attract Musk
India also cut the import duty on EVs last month and said to get tax concessions, foreign companies will have to invest at least 41.5 billion rupees ($500 million) and start producing EVs from a ...
Wipro Q4 results: Net profit falls 8% to Rs 2,835 crore
In Short. IT services firm Wipro's consolidated net profit stood at Rs 2835 crore in the fourth quarter of FY24, marking a 8% drop compared to Rs 3,074 crore in the same quarter last year. During the reporting period, revenue from operations also experienced a 4% year-on-year decline to Rs 22,208 crore, down from Rs 23,190 crore in the ...
Netflix gains 9.3 million subscribers, profit soars in 2024
International Business News: Netflix gained 9.3 million subscribers and saw a significant increase in profit in 2024. The company now has nearly 270 million worldwide subscribers. Learn more about ...