List of Industries in India
The economy of a country is mainly divided into three sectors
Several studies have shown that it is very important for a developing country to work towards developing all these sectors in the country. And, out of these three sectors, the industrial sector has not seen the same level of growth as the other two sectors have seen in the last three decades in India. But, with the investor-friendly policies being developed by the Central and the State governments, a big boost to the Indian Industrial sector is not far away. In this article, we will see a list of the Industries in India.
List of Industries in India
The following industries are among the most significant industries in India and thus play a major role in developing the Indian economy.
1. Pharmaceutical Industry
India's pharmaceutical industry is amongst the most technologically advanced and scientifically capable pharmaceutical industries in the world. Several major pharma companies are operating in India. These companies have their research and development programs for developing and manufacturing different medicines and vaccines. Several financial Organizations have valued the Indian pharma industry at around $40 billion, and this value is only expected to increase.
The manufacturing abilities of the pharma industry in India are so astonishing that it produces about 20% of the total generic medicines and more than 50% of the total vaccines produced in the world. Pharma products are one of the chief exports from India. The total exports of the pharma industry were estimated to be worth $20 billion in 2020.
During the recent times of the Covid Pandemic, the Indian pharma companies were among the first companies to have developed an effective vaccine for protection against the deadly coronavirus disease. Some of the country's most important pharma hubs are Vadodra, Kolkata, Vishakhapatnam, Mumbai, Aurangabad, Ahemdabad, Bangalore Chennai, Pune, Hyderabad, etc.
Market Leaders in the Indian Pharma Industry are as follows:
2. Fertilizers Industry
The next Indian industry that has achieved a lot of success since independence is the fertilizers industry. The main factor behind the success of the fertilizers industry is the dominance of the agricultural sector in the Indian economy. Due to this, there is always a demand for different types of fertilizers, which has allowed several fertilizers companies to set up successful businesses. Also, government policies have been made to make it easy for fertilizers companies to start their manufacturing.
Since the liberalization of the Indian economy, many private companies, and government companies are fulfilling the fertilizers requirements of the country. The most commonly preferred fertilizers in India are NPK fertilizers, while urea is the most consumed fertilizer. One of the biggest concerns for the fertilizers industry has been the rapid increase in the imports of raw materials required to manufacture fertilizers.
Market Leaders in the Indian Fertilizers industry are as follows:
3. IT Industry
With the rise of the Information Technology (IT) sector globally, India is among those countries that benefitted the most and have developed a successful IT industry in the country. The rise of the IT industry in India has been so extraordinary that it contributed about 7.7% to the Indian GDP in recent years.
The main reason behind the success of the IT sector in India has been the growing demand for IT services across the globe and the availability of talented IT professionals in the country. IT services worth more than $150 billion were exported in 2021 from the Indian IT industry. And this industry and the revenue generated by the IT industry are projected to grow even more to a value of $100 billion by 2025. Moreover, this industry is amongst the biggest employers, with more than 4 million employees working with different companies.
Market Leaders in the Indian IT sector are:
4. Textile Industry
The textile industry is an industry that has been an integral part of the Indian economy since ancient times. There was a time when traders came to India from distant places to buy uniquely manufactured textiles. Domestic textile production suffered a huge loss during the British Rule, but this industry could recover properly after the Indian independence.
Recently, the textile industry was estimated to contribute about 5% to the GDP of India. Also, textiles are among the most exported items from India and account for 12% of the total exports from India.
Major Companies in the Textile Industry of India are as follows:
5. Iron & Steel industry
India's an iron & steel industry is one of the core industries of the Indian economy. This industry has always been an important contributor to the GDP of India. Thus, the Indian government needs to ensure the smooth functioning of this industry through its policies. With the liberalization of the Indian economy, many private companies invested in the steel industry and thus began the meteoric rise of the steel industry in India.
India became the second-largest producer of steel in the world in 2019. Recently, foreign direct investments in the Iron and Steel industry have played an important role in boosting iron and steel production in the country. The government has provided several production-linked incentives to encourage more investment to develop this industry.
Major companies in the Indian Iron and Steel industry are as follows:
6. Banking and Finance industry
The banking services sector is one of those sectors which has witnessed a growth in demand from the last few decades. This growth has been further fueled by the many fintech launched in the last 5 years. Also, India is amongst the biggest digital marketplace in the world. In recent years, the central government has also introduced several banking reforms to make the banking process fraud-free and transparent in India.
Major Banks in the Indian mobile Banking and Finance industry are as follows:
7. Pulp and Paper Industry
The pulp and Paper Industry is also one of the most important industries of India. Currently, there are more than 750 paper mills in India. Also, the capacity of the Pulp and Paper Industry is estimated to be around 10.90 Mtpa paper.
The pulp and paper industry has faced several serious challenges in recent times. Such challenges have been mainly due to the high pollutant nature of this industry. It is a strict need of the hour to reduce the pollutants released by the paper industry as soon as possible. And thus, several major companies from the Pulp and paper industry have come together to devise new methods to replace the existing methods so that the paper industry can be made less polluting.
Major Paper Mills of India are as follows:
Other Prominent Industries
Some other important industries in India are as follows: