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I think you should start plastic recycling plant and give recycled plastic to business who make plastic products.

If a suggestion I could give would probably be, instead of starting a manufacturing unit. Source it and build a brand. In the market the most margins are made by brands and lasts are by manufacturing unit. Also you are good in sales try exploring some gaps in india or outside it. So you could solve it and make business out of it. Also focusing outside India gives benefits like higher margins and exposure. And nowadays Indian government is also supporting exports significantly

For sales and growth we work together

I consider going for sustainable packaging is an good idea, looking at the effect of single use plastic on the environment people are getting educated and preferring sustainable alternative as well, also due to rise of small business and certain start up almost all of them use plastic for packaging seems like a good scope if did correctly.. like it's cost and durability and so on...

What is the best registration for a startup company

Given your interest in Industry 4.0, consider how you can integrate these technologies into whichever sector you choose. For example, in wire manufacturing, you could implement IoT for predictive maintenance. In packaging, use AI for optimizing material usage. In food processing, blockchain could ensure traceability. Your expertise here could be a major differentiator regardless of the sector. Also, the long credit cycles in manufacturing can be challenging. Consider factoring or invoice discounting to manage cash flow. Also, explore government schemes or subsidies for MSMEs in your chosen sector. Your investment range is good for starting, but have a plan for scaling up as you grow.

Personally I think there's growing demand for sustainable packaging solutions, aligning well with current environmental trends. Your investment range is suitable for a small to medium-scale operation. Focus on innovative materials like biodegradable plastics or plant-based packaging. Your digital marketing skills could help educate consumers and businesses about the benefits of eco-friendly options. Consider targeting e-commerce businesses, as they're increasingly looking for sustainable packaging solutions. Labor issues might be less complex here, but you'll need to invest in R&D for new materials and designs.

Food processing has immense potential due to India's agricultural diversity and changing consumer preferences towards ready-to-eat and packaged foods. But, it requires stringent quality control and compliance with food safety regulations. Also, the sector is highly competitive, so you need a unique selling proposition.