Businesses today want to work smart and not hard. They tend to outsource various functions, from logistics and manufacturing to marketing, to reduce their burden and costs. According to Qubit Labs, about 45% of small enterprises outsource tasks to access the capabilities and technologies that support innovation.
Hence, outsourcing corporate or manufacturing operations is a great international business idea. For example, Microsoft outsources a huge portion of its software development and IT services to Indian firms, General Electric (GE) outsources IT services and financial services to Indian firms, American Express outsources various customer service and financial processes to Indian BPO companies, and the list goes on.
This shows how much potential the outsourcing business holds and how likely it is uruguay phone number list to thrive in an interconnected world.
4. Herbal Cosmetics
Capitalise on India’s renowned ancient herbal heritage and export natural skincare and beauty products. According to a report by Allied Market Research, the Asia-Pacific region will most likely witness the highest growth rate in the organic cosmetics market, making India a strategic location for production. Moreover, experts expect the Ayurvedic market, a subset of the herbal cosmetics market, to reach US $4.7 billion by 2026, growing at a 9.5% CAGR from 2019-2026.