How to start a manufacturing business in India

             1. Research 

• The initial step is to carry out complete research on what product to choose and the current market demand and its value.
• Identify the number of competitors in the chosen field by carrying out a market analysis. The lesser the number of competitors compared to the demand, the profit value will be more so choose your product wisely.
• Important factor is to conduct an analysis on technical as well as financial feasibility.
• Make sure the procurement process for material can be carried out smooth and hassle-free.
• Last but not the least make a well-structured business plan estimating the cost, target market and market strategies.

          2. Registration

• Base on the structure chosen for business, register as a Private Limited Company, Limited Liability Partnership (LLP) or Proprietorship.
• Register for Good and Service (GST) tax compliance.
• Acquire Employer Identification Number (EIN) from Ministry of Corporate Affair (MCA).
• Register the firm in district industries Centre.
• Register factory with Factory Department of state government.
• Get clearance from Pollution Control Board (PCB), if the manufacturing procedures generate pollutants.
• Export/Import (if applicable)

          If you plan to export or import raw materials, you will need to register with Director General of                                       Foreign Trade (DGFT) and obtain an Import Export  Code(IEC).

             3. Location

• Consider a location that have easy access to suppliers , transportation and labour.
• Ensure the chosen location is not deficit of water , electricity and got good waste management system.

           4. Financing

• Determine the initial capital investment. Evaluate the money required for machinery, raw materials, labour and infrastructure.       
• Funding sources: 

                 1.1   Own Savings or Family Loans

                 1.2    Approach Bank with a detailed business plan and financial projections.                         

                 1.3   Check with government schemes for setting up manufacturing unit.

           5. Production Process & Quality Standards

• Strictly carry out the quality control measures for the produced products.
• Make sure the products meet the industry standards such as BIS Certification, IS0 9001 etc.
• Register for relevant certifications like BIS, ISI (if required).

          6. Marketing

• Building up a good strategy for marketing is an essential criteria for the sales, hence make up a plan that can cater online as well as offline marketing.

         7.Employee Management

• Manage staffs efficiently, keep in mind they are the backbone of any company hence their work satisfaction is what help us to have timely delivery of products hence greater productivity.
• Ensure to attain government schemes for the employees, such as Employee Provident Fund (EPF) and Employee State Insurance (ESI).

                        With careful research, planning and marketing you can take your dream project to greater heights.

                                                                                                                  Best wishes!!