{"id":39163,"date":"2022-01-03T11:41:33","date_gmt":"2022-01-03T06:11:33","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=39163"},"modified":"2022-01-17T20:52:23","modified_gmt":"2022-01-17T15:22:23","slug":"automobile-business-ideas-for-start-ups-in-india","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/automobile-business-ideas-for-start-ups-in-india\/","title":{"rendered":"Automobile Business Ideas for Start-ups in India"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Starting a winning business can be a bewildering experience for any entrepreneur or start-up. Similarly, identifying a viable venture for a new business can be equally perplexing.\u00a0 In this write-up, you would come across some popular automobile business ideas that seek low to moderate investment and ensure good ROI. But before we explore the popular automobile business ideas, let&#8217;s dive into the market condition of the Indian automotive sector.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Market\nStanding of Indian Automotive Sector<\/h2>\n\n\n\n<ul><li>India\nis projected to be secure third place in the global automotive market in terms\nof volume by FY 2026. The Indian Auto sector presently manufactures 26 million\nvehicles, including commercial vehicles, passenger vehicles, two-wheelers, and\nthree-wheelers in April-March 2020, with around 4.8 million units shipped\nabroad.<\/li><li>India\nhas a commendable presence in the global heavy vehicles market as it is the\nlargest tractor producer, 2nd largest bus manufacturer, and 3rd largest heavy\ntrucks manufacturer in the world.<\/li><li>The\nEV market is projected to thrive at CAGR 0f 44 per cent between 2020-27 and is\nlikely to reach 6.34 million unit yearly sales by FY 2027. Also, this sector\nwill create five cr jobs by FY 2030.<\/li><li>The\npassenger vehicle sector in India is projected to register a growth of 25 per\ncent in FY 2022.<\/li><\/ul>\n\n\n\n<p><strong><em>Now let discuss the popular automobile business ideas for entrepreneurs with low risk appetite <\/em><\/strong><\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important\"><a href=\"https:\/\/corpbiz.io\/learning\/how-to-secure-petrol-pump-license-in-india\/\">How to Secure Petrol Pump License in India?<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">List of profitable automobile business ideas for start-ups in India <\/h2>\n\n\n\n<p><strong><em>The section below discusses the popular\nbusiness ideas in automobile sector<\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Automobile spare parts business<\/h3>\n\n\n\n<p>The auto spare parts market has expanded\nby a CAGR of 3.28% from 2016 to 2020 to attain a valuation of US$ 45.90 billion\nin 2021. The sector is projected to secure a valuation of US$ 200 billion by\nFY26. The auto spare parts sector is projected to rise by double digits in FY\n2022 owing to the speedier development and advent of cutting-edge production\ntechnologies. Thus, the automobile spare parts business is one of the most\nstable and profitable business models in India. Setting up a moderate-sized\nauto spare retail shop attracts the minimum funding of Rs 30 lakhs. <\/p>\n\n\n\n<p><strong><em>Common permits and licenses required:<\/em><\/strong><\/p>\n\n\n\n<ul><li><a href=\"https:\/\/corpbiz.io\/trade-license\"><strong>Trade license<\/strong><\/a><\/li><li><a href=\"https:\/\/corpbiz.io\/shop-establishment-license\"><strong>Shop and Establishment license<\/strong><\/a><\/li><li>GST Registration ( in case of interstate supply)<\/li><li>EPFO registration (establishment having 20 or more employees are mandated to secure EPFO registration)<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Used car dealership<\/h3>\n\n\n\n<p>India used car market&#8217;s valuation is\ncurrently floating above USD 27 billion, and it is projected to attain the\nfigure of USD 50 billion by 2026. <\/p>\n\n\n\n<p>The Coronavirus outbreak had a minimal\nimpact on the auto sector. With the increased no. of customers preferring\nindividual mobility and diverse finance options infused into the used car\nmarket, the market is likely to witness considerable growth. <\/p>\n\n\n\n<p>Due to the Covid-19 outbreak, reduced\ncash inflow has forced the end-users to look for options other than new\nvehicles. Therefore, setting up a used car dealership, particularly in metro\ncities, is a profitable business idea for startups in India. Investment-wise,\nstarting a Used car dealership attracts a minimum funding of Rs 10 lakhs.<\/p>\n\n\n\n<p><strong><em>Common permits and licenses required:<\/em><\/strong><\/p>\n\n\n\n<ul><li>Trade license<\/li><li>Shop and Establishment license<\/li><li><a href=\"https:\/\/corpbiz.io\/gst-registration\"><strong>GST Registration<\/strong><\/a><\/li><li><a href=\"https:\/\/corpbiz.io\/epf-registration\"><strong>EPFO registration<\/strong><\/a> (establishment having 20 or more employees are mandated to secure EPFO registration)<\/li><li><a href=\"https:\/\/corpbiz.io\/fire-department-noc-in-india\"><strong>Fire NOC<\/strong><\/a><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Export of automotive parts and tools<\/h3>\n\n\n\n<p>India has a solid market presence abroad\nwhen it comes to the auto export business. The evolving quality norms for auto\npart manufacturing have enabled India to ensure widespread customer reach\nwithin domestic as well as international markets. Thus, auto parts&#8217; exportation\nis one of the best automobile business ideas for startups across India. The\ninvestment of \u20b915 to 20 lakhs is enough to start such a business model.<\/p>\n\n\n\n<p><strong><em>Common permits and licenses required:<\/em><\/strong><\/p>\n\n\n\n<ul><li>Import Export Code granted by Directorate General of Foreign Trade, i.e. <strong>DGFT<\/strong><sup><a href=\"https:\/\/www.dgft.gov.in\/CP\/\"><strong>[1]<\/strong><\/a><\/sup>.<\/li><li>Trade license<\/li><li>GST Registration<\/li><li>EPFO registration (establishment having 20 or more employees are mandated to secure EPFO registration)<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Food truck service<\/h3>\n\n\n\n<p>The food truck business has gained\nimmense popularity lately due to evolving customer preferences and lifestyles.\nThe advantage of mobility enables food truck business owners to address a wide\nrange of customers, which otherwise remains to constrain for an individual\nstationary restaurant. <\/p>\n\n\n\n<p><strong><em>Common permits and licenses required:<\/em><\/strong><\/p>\n\n\n\n<ul><li><a href=\"https:\/\/corpbiz.io\/fssai-license\"><strong>FSSAI registration<\/strong><\/a><\/li><li>Commercial vehicle license from RTO<\/li><li>Fire Safety Certificate<\/li><li>NOC from local body<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>The automobile industry is thriving at a healthy rate despite the early setback created by the Covid-19 pandemic. Upcoming entrepreneurs and startups can choose one of these automobile business ideas and lay down the foundation of a profitable business.  As you can see, every business idea above attracts a different type of license and permit. Thus, it is important for you to identify the underlying legalities to avoid future complications.  Connect with Corpbiz just in case you seek some professional assistance in this context. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important\"><a href=\"https:\/\/corpbiz.io\/learning\/how-to-setup-helmet-manufacturing-business-in-india\/\">How to Setup Helmet manufacturing business in India?<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Starting a winning business can be a bewildering experience for any entrepreneur or start-up. Similarly, identifying a viable venture for a new business can be equally perplexing.\u00a0 In this write-up, you would come across some popular automobile business ideas that seek low to moderate investment and ensure good ROI. But before we explore the popular [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":39164,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[968],"tags":[2066],"acf":{"service_id":"250"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":7963,"readingTime":3,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/39163"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=39163"}],"version-history":[{"count":13,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/39163\/revisions"}],"predecessor-version":[{"id":39356,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/39163\/revisions\/39356"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/39164"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=39163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=39163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=39163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}