5 Biggest Upcoming Industries in India

3 min readOct 12, 2022

The world we live in now has two distinct periods, the pre-pandemic era and the post-pandemic one. Though it has only been roughly three years, if we count the rapid changes in this brief duration, it seems north of 3. Like everything else, the event also shaped the trajectory of the industrial world.
I had a fun and insightful conversation with Trishneet Arora, the Founder & CEO of TAC Security, about India’s start-up economy. He has been featured in Forbes, Entrepreneur Magazine, and more after starting his own cyber security company at just the age of 19. He was undoubtedly the right person to ask about what will be the next big industry. Also, he was shockingly honest about it!
Here are the 5 biggest upcoming industries in India, in my opinion.

1. EdTech and e-learning

The demand for online learning skyrocketed as social distancing became a necessity in early 2020. Classes, tutoring, exams — the internet became the medium of choice for most education-related things. For a country like India, this overnight switch to e-learning was presumably costly, but that false notion was quickly washed away. And most of the population adapted to this method. It does not seem to be going away anytime soon.
With top universities offering various programs through their online education mode, e-learning provides a host of benefits, including allowing students to attend their choice of classes without making distance an obstacle. A prime example of the potential growth we can expect in the educational technology industry is the success of ByJu’s, with a valuation of $22 billion, or Unacademy, with a valuation of $3.4 billion, among others.

2. SaaS, cloud computing, and remote working tools

With education, healthcare, and our work going digital, we now deal with a lot less paper. We instead save the data digitally. And this resulted in unprecedented growth in remote working tools. From SaaS to cloud computing, anything that aids our web-trotting has our complete attention.
This also includes products that help set up a remote working or study station. From laptops and tablets to simple furniture such as chairs or tables are in high demand owing to this sudden change.

3. eCommerce services

The quarantine has also been a blessing for the eCommerce industry. Most people were compelled to go online, which made them somewhat habituated, if not addicted, to the joys of online trading.
With an increase in the number of handheld devices such as smartphones and tablets, the online market has become much more accessible to most people. Apart from the biggies, such as Amazon or Flipkart, multiple start-ups now offer to deliver innovative products directly to the customer, which makes this medium unavoidable for most businesses.

4. Healthcare and life sciences

The COVID-19 pandemic required the world to work collectively towards accomplishing significant updates in healthcare technology in the mere span of two years. It also changed how people approach health-related issues, from visiting a doctor’s chamber to consulting them with the click of a button.
According to the IBEF, the Indian pharmaceutical market is projected to reach $130 billion by 2030 from $41 billion (in 2021). It is a sector to watch out for in terms of its profitability and ability to employ many people.

5. FinTech companies

With a significant rise in funding and people’s quick adaptability, India’s financial technology sector is likely to see more development in the coming times. The country now hosts 7,460 FinTech companies, only behind the US with 22,290 and China with 8,870.
It also gives rise to the number of authorized financial service providers and NBFCs, offering people financial assistance previously limited to banks. Smart devices help in this aspect, too, as many of these institutions provide their service digitally.

India’s digitization journey seems to be a good opportunity to achieve exponential growth in technology. To make the businesses future-proof and more accessible, we need to be constantly updated based on the direction of the world. That may not remove all risk factors, but it prepares it for any contingency.

Listen to my podcast Figuring Out to figure out more such info about the financial world.