Punjab, the land of five rivers, is a state in the western part of India known for its cultural, historical, and economic importance. The home to most of the Indian Sikh community, Punjab is the 16th largest state in the country by area. The state is world-known for locations like Harmandir Sahib (Golden Temple), Wagah Border, Jallianwala Bagh, and much more. The most important factor in Punjab’s GDP is agriculture. The state makes up a large proportion of crops and pulses provided throughout India. However, in 2022, Punjab holds strength in creating many businesses and is not just bound to agriculture. Today, we will discuss why Punjab is a great place for startups and which can be the best business for you to earn maximum profits at minimum investment. So, let us begin!
List of Top 8 Business Ideas in Punjab
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1. Affiliate Marketing
Affiliate Marketing is a widely known business in the country, and Punjab is no different. Affiliate Marketing is the newest technique of marketing that involves collaboration in which a marketer is paid for increasing the sales of an online retailer. The marketer uses platforms like YouTube, Instagram, LinkedIn, Facebook, etc., to create content and build an audience. Affiliate marketing is a great business as it provides the flexibility of time and work, unlimited earning potential, and requires no minimum education requirement. You could even be a student and create a successful affiliate marketing business for yourself.
Known to be an agricultural economy for decades, Punjab still holds up to this name in 2022. The state, also known as the ‘Breadbasket of India,’ provides more than 17% of total wheat production in the country. Punjab comes under the northern plains belt and is known for its rich, nutritious alluvial soil that supports the production of wheat, maize, paddy, potatoes, sugarcane, cotton, and pulses. People with a certain amount of land can start growing crops easily in any part of Punjab. You can also seek organic farming (growing crops without chemicals and pesticides) due to an uptick in demand and lesser supply.
3. Dairy Farming
It looks like we keep coming back to rural Punjab. Dairy farming has always been a good business for many natives of the region. People love to own different milk-bearing animals, mainly buffaloes, to create nutritious products for themselves and the market. If you are someone with a practical experience in animal husbandry, you can venture into dairy farming and provide products like milk, ghee, paneer, curd, etc. Lookin to start a business in Gujarat? Check out our guide where we have featured best business ideas in Gujarat.
As we mentioned above, some of India’s most important cultural locations are present in Punjab. With locations like Amritsar, Pathankot, Chandigarh, Mohali, Ludhiana & Jalandhar, Punjab makes for a great vacation spot for Indians and foreigners. Entrepreneurs can build tourist agencies, hotels, restaurants, etc., and take advantage of the large number of monuments, parks, temples, and local cuisine that Punjab provides.
5. Woolen Industry
For those who do not know, locations like Ludhiana, Dhariwal, Kharar, and Amritsar are known for their woolen garment industry. 40% (highest) of all wool processing units in India are present in Punjab. With the intense winters that northern India experiences, the woolen industry offers a great opportunity for entrepreneurs in Punjab due to the state’s unique geographical presence. You can process wool, produce garments, carpets, or export products across the world.
Business Ideas for Other States:
6. Storage Units
With the large number of products that Punjab provides every year, it is impossible to consume all these products at once, making storage units more important in the region. You can set up cold storage units to store perishable items like vegetables and fruits or build traditional godowns to store other products like wool and cotton.
7. Transport Business
Punjabi industrialists and farmers require many trucks and tractors to carry raw materials and final products in and out of the state. Even though they have existed for a long time, transport businesses are still a good bet to success. You can create a network of vehicles and drivers and provide transportation services throughout India or within the state itself.
8. Seed Production
Seeds are the very first requirement for a good crop. Punjab not only produces high-grade agricultural products but is also known to produce seeds sent to different parts of the nation. Paddy, Maize & Cotton are the most famous crop seeds around the state. Development, Packaging, Processing, etc., are some fields you can venture into regarding seed production.
Furthermore, we have also covered a list of most successful business ideas for village area, that can be started without any high initial investments. Do give it a read.
Why Should you Choose Punjab to Start a Business?
1. Transport: Punjab is known for its great connectivity with the rest of the nation. The landlocked state is connected by 29 national highways and 19 state highways that allow for the free movement of produced goods and raw materials throughout the state and the country.
2. Industrial Hub: Punjab has been the choice of millions of entrepreneurs due to its unique location, government schemes, investor climate, etc. The state is home to more than 1.9 lakh micro-enterprises and 586 medium and large enterprises. According to Statista, Punjab had a registered workforce of more than 5 lakh people across different industries in the state.
3. Ease of Logistics: Punjab ranked 2nd in the Ease of Logistics Ranking of the Government of India for 2018 and 2019. The state offers 100% road connectivity with 4/6 lane highways ensuring smooth transportation and seamless business activities.
In addition to this also, do have a look at our latest blog where we have mentioned some of the best profitable business in Odisha. Do check it out and let us know if you find your dream idea.
Punjab is a great place for any business to achieve success. We have listed our best bet to create an effective and cost-efficient business that will keep your profits going in no time.