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Approximately 240 functional special economic zones, to meet the needs of different industries, plan and implement 6 new industrial corridors. Compared to any other sector of the economy, manufacturing is more likely to boost productivity.

 It is worth noting that, contrary to popular belief, the manufacturing industry does not "compete" with other industries such as the service industry, but is the "engine" of productivity in all other industries. The facts have shown that as the share of manufacturing in GDP increases, in a similar way, the growth rate per capita(which reflects average income) will continue to increase. This is what economists call the structural change dividend.

Apparently, the manufacturing industry employs approximately 12% of the Indian labor force. Many government initiatives are being implemented across India to promote business creativity in various fields such as food, fashion, basic services, and entertainment. Because of this, the scope of manufacturing operations in India is expanding day by day.

Additionally, manufacturing and agriculture are interrelated, and each sector depends on the successful development of another sector. Manufacturing is more capable of creating opportunities for capital accumulation than agriculture. This means that enterprises in the industry, whether small, medium or large, can invest in various assets to increase the flow of funds. In addition, the return on capital of the manufacturing industry is higher than that of other industries. Because it supports productive investment, manufacturing can achieve high savings rates.In addition, you will find that investment expenditures are usually spent on manufactured goods such as machinery, equipment, and construction supplies.

Why Do We Need a Business Plan to Start an Enterprise?

To test the feasibility of your entrepreneurial idea. Writing a business plan is the best way. In addition to going out and doing it, test whether an entrepreneurial idea is feasible. In this sense, the business plan is your safety net. If a business plan shows that your business philosophy is not sustainable, it will save you a lot of time and money. Many times, the idea of ​​starting a businessis discarded during the marketing analysis or competitive analysis stage, allowing you to turn to a new (better) idea.

Unfortunately, many potential business owners are convinced that their idea of ​​a product or service is a must-see proposition, so they did not take the time to conduct the necessary research and come up with an appropriate business plan. The more you know about your industry, prospects, and competition, the more likely your business is to succeed.

A business plan can give you new ideas. Discovering new ideas, different methods, and new perspectives are some of the best things that can happen during the business planning process. Despite its sometimes poor reputation, the business plan is more than a lengthy, rigid and structured document. In fact, an effective business plan is just the opposite; it is a flexible, evolving and dynamic tool that can help you break out of your inherent mindset and find new solutions to some of the toughest business challenges. This is especially true when considering the marketing strategy part. Here, when developing a plan for a marketing campaign, creativity and new ideas are invaluable.

Access to funds is another advantage. Most startups need funds to get started and operate to get started. Without a solid business plan, there will be no opportunity to obtain debt financing from mature financial institutions, such as banks, and there will be no opportunity to obtain equity financing from angel investors. Established businesses generally also need funds to do things like buy new equipment or property, or because of a market downturn. Having an up-to-date business plan will give you a better chance of obtaining the necessary funds to continue your business or expand. Investors and financiers always pay attention to the risk of default, and word of mouth is not a substitute for facts and data written in a carefully prepared business plan.

Attracting investors. Whether you want to sell your business to venture capitalists or attract angel investors, you must have a reliable business plan. The presentation may pique their interest, but before they're ready to make investment commitments, they need a well-written document that they can study. Which is ready to be reviewed for your business plan. Both venture capitalists and angel investors want to conduct extensive background checks and competitive analysis to ensure that what is written in your business plan is indeed the case.

NPCS provides pre-feasibility reports, key plans, financial technology reports, comprehensive project reports, consumer assessments and professional business management. Our goal is to provide value-added services and solutions. We focus on quality and innovation strategies that benefit countless customers.

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