The iron and steel industry is the most potential industrial sector in India. And this is the backbone of the Indian industry. Because iron and steels are the major raw materials for at least nine other major industries. Here in this article, we list down profitable iron and steel business ideas that can be started with a small investment.
These are the automobile, automobile components, construction, defense manufacturing, electrical machinery, railways, renewable, thermal power, and oil and gas.
In addition, there are thousands of ancillary industries that depend on this main industry. Here in this article, we intend to provide 21 profitable iron and steel business ideas for your ready reference.
India ranks 3rd in the production of steel globally. And it is growing rapidly. However, the domestic availability of raw materials such as iron ore and cost-effective labor are the major driving factors for growth.
Generally, the iron and steel industry demands huge investments and a wide range of manufacturing operations.
List of 21 Profitable Iron & Steel Business Ideas
#1. Barbed Wire
You can initiate a barbed wire manufacturing business on a small and medium scale basis. However, there are three types of barbed wire. They are class I, class II, and class III. Read More…
#2. Blouse Hook
Blouse hook is an essential item for the garment and clothing industry. You can start this business with a single machine and a small startup capital investment. Therefore, you can start this business from your home. Read More…
#3. Clutch Plate
The clutch plate is an essential item in the automobile industry. It enables the rotary motion of one shaft to be transmitted, when desired, to a second shaft the axis of which is coincident with that of the first. In addition, you can start a clutch plate manufacturing business on a small-scale basis. Read More…
#4. Copper Coated M.S. Wire
This is an important item for different types of welding purposes. Furthermore, railways, Shipbuilding, chemical fertilizer, cement, petrochemical industries are the major consumer of this product.
#5. Galvanised MS Wire
Galvanized M.S. Wire has a versatile use in producing different engineering items. It includes Building Hardware, barbed wires, Screens rivets, etc. The raw material requirements are mild steel wire rod and Zinc Ingot.
#6. Gem Clip
Gem clip or paper clip is an essential item as education and office stationery. The manufacturing process is simple. An entrepreneur with low startup capital can initiate this business as the home-based also. Read More…
#7. Hacksaw Blades
A hacksaw blade is a common cutting tool in all engineering industries. In addition, the hacksaw blade is essential to cut all metals and non-metals. You can start a small scale manufacturing with moderate capital investment.
Iron & Steel Business Ideas
#8. Hardware Store
Hardware stores are very popular in the Indian market. Right from rural areas, small towns, and metro cities, there is a lot of hardware store you will find. However, you will need to invest moderate capital in starting.
#9. Heat Treatment Servicing Unit
Heat treatment includes the hardening and tempering of Metal components/Mechanical products of Ferrous and Non-Ferrous origin. It increases life or mechanical properties.
#10. Iron & Steel Export-Import
In India, this is an opportunity you can cultivate. However, you must have an IEC code to start import and export. The import of iron and steel is increasing rapidly in India.
#11. Nuts & Bolts
Nuts and bolts are a type of industrial fasteners. Furthermore, they are essential items in various products, machines, structures, etc. Alike any manufacturing business nuts bolts making business opportunity also demands strategic planning. Read More…
#12. Safety Pin Making
If you want to start a home-based business in this industry, then you can consider this opportunity. With a simple machine and one single raw material, you can produce safety pins. Basically, a safety pin is a different type of pin that includes a simple spring mechanism and a clasp. Read More…
#13. Seamless Pipe Fittings
There is a very good demand for seamless M.S. pipe fittings all over the country and abroad. Furthermore, a wide range of products include elbows, tees, sockets, etc. In addition, you can start this manufacturing business with moderate capital investment.
#14. Slotted Angles
Slotted Angles have several advantages over conventional materials. Furthermore, they are essential items for assembling storage racks, tables, boards, frames, etc. The consumption is increasing with the increase in the standard of living of the
#15. Stainless Steel Cutlery
The steel cutleries are household items. In addition, these items are essential for any type of restaurant, hotel, coffee shop, and eatery. The demand is increasing rapidly. However, this business demands substantial startup capital investment.
List of Iron & Steel Business Ideas
#16. Stainless Steel Vessels
These vessels are also household consumer items. Good looks and rust-free characters are the main reason for the popularity of these products. You can start this business on a medium and large-scale basis. This is one of the most profitable steel business ideas.
#17. Staple Pin
The staple pin making process is simple. However, using good quality iron wire assures the production of good quality and long lasted staple pins. Furthermore, this manufacturing operation is possible with a small budget and infrastructure. Read More…
#18. TMT Bar
TMT stands for the thermo-mechanical treatment of bars. This is a medium or large-scale operation. It is a highly profitable business depending on the manufacturing technology you are using. Read More…
The U-Clamp is used to hold together the several layers of leaf springs of an automobile and hold them onto the axle. This is a very commonly used spare part in automobile aftermarket. In addition, you can start manufacturing on a small-scale basis.
#20. Welding Electrodes
Welding Electrodes have widely used consumables in all industries where welding jobs are done. Apart from large industry use, the product has demand in the small welding unit market.
#21. Wrought Iron Furniture
These types of furniture are very popular nowadays. Articles like chairs, sofas, tables, and beds are very popular and quite attractive models with different designs. However, elegant appearance, durability, and innovative designs are the main reasons for the growing demand. Read More…
To start a business in the iron and steel industry, you must have previous experience and skills. We hope this list of 20+ profitable iron and steel business ideas will help you in making an informed decision.
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Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.