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Shubham Gupta

Passionate about cre... • 11m

I'm starting a manufacturing business and need your insights. I'm considering electrical copper wire manufacturing, or eco-friendly packaging or food processing. My investment range is ₹30-80 lakh. Any key factors, emerging trends to consider?

Anonymous 3

Hey I am on Medial • 11m

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.

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India's imports of refined copper are substantial, with imports worth ₹16,500 crore in 2023-24, primarily for electrical wire and cable manufacturing.

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The average annual growth rate of India's manufacturing sector over the last decade is 5.2%. In 2022-23, the manufacturing sector grew by 4.7% and contributed 17% to the country's GDP.