Finding a reliable source of income can be a difficult task. Passive income ideas in India can significantly increase your cash flow while allowing you to focus on other priorities. Writing an e-book, selling photography online, creating an app, renting out your home, creating a blog, etc., are great ideas for earning passive income in India in 2024.
I spent over a month researching the tools, and I will provide a complete, unbiased review of the top 8 ideas for earning passive income. Stick around till the end to learn our guide on choosing the right option for your needs. I curated some of the best passive income ideas for you.
The best passive income ideas in India include writing an e-book that does not require you to invest much financially, posting on social media, which allows you to connect with people, and selling photographs online that will enable you to follow your passion.
| Passive Income Ideas | Investment Requirement | Time Commitment | Monthly Earning potential (Beginners) | Link |
| Udemy | Less than Rs. 5000 | Work Once – Earn Lifetime | Rs. 25,000+ | Udemy |
| Amazon KDP | Less than Rs. 1000 | Work Once – Earn Lifetime | Rs. 10,000+ | Amazon KDP |
| Create An App | Rs. 50,000+ Per Month | Work Once – Earn Lifetime | Rs. 100,000+ | Release on Google Play Store |
| Airbnb | You need to own Permanent Property | Continuous Work – Continous earning | Rs. 20,000+ | Airbnb |
| Shutterstock | Free | Work Once – Earn Lifetime | Rs. 5000 | Shutterstock |
1) Udemy
Udemy is the best platform for selling an audio/video course and generating passive income. It is an open platform where you can publish and sell a course. In India, marketing through social media platforms like YouTube, Twitter, LinkedIn, and Instagram is very effective. Once you’ve built a relationship with the audience, you can introduce paid courses offering deeper insights.
There are several steps involved in creating a course on Udemy. The first step is to choose a topic you are knowledgeable and confident about. After that, you have to create attractive slides, practice material, and record audio/video lectures. The content should be engaging, informative, and well-presented to help generate proper passive income in India.
Features:
- Flexible: There is a lot of flexibility offered to you, as you can independently configure the length of the course, topics covered, additional material, tests, and certifications.
- Revenue: Instructors can set their prices. They receive 97% of the revenue from sales made through their affiliate links and 37% from sales made without promotion on Udemy.
- Dashboard: The data-driven Instructor Dashboard details your ratings, sales, and revenue. In addition, it lets you quickly edit/manage existing courses.
- Analytics: It also provides extensive tools to track your course performance, sales, and royalties, learn about your students, and view feedback.
- Resources: In Udemy, specific resources such as the teaching center, Instructor community, and help center are provided to support the instructors and the learners.
| Pros | Cons |
| Once published, the courses require minimal effort for maintenance and growth. | This whole process requires a significant amount of time and effort. |
| Instructors can provide feedback to one another using forums and community groups. | |
| Create custom coupons to offer your students an exclusive discount and boost sales. |
2) Amazon Kindle Direct Publishing
Amazon KDP can be an ideal way to earn a high passive income without much investment. It allows authors to publish their books independently on the Kindle store. Book writing requires you to be an expert in a particular topic from any niche.
There are specific steps involved in this – the first step is identifying your audience. Knowing your audience and making content accordingly is critical for boosting sales. Then you have to choose the topic that is interesting to you and in demand. Write, organize, edit, and proofread content before publishing.
Features:
- Formats: It also provides you with a variety of ways in which you can publish your books, including e-books, paperbacks, audiobooks, hardcovers, etc.
- Author Page: You can create an author page where you can share the latest information about yourself and your books with readers.
- Upload: If your book has images/elements that bleed to the edges of the pages, you must upload your manuscript as a PDF; otherwise, you can upload it as a PDF, DOC, DOCX, RTF, HTML, or TXT file.
- Tools: You can design professional-looking covers for your e-books and paperbacks using its robust cover creator tool.
- Connectivity: It enables authors to make their books available worldwide, helping them connect with people worldwide.
| Pros | Cons |
| Once the book is published, it can generate massive income without any continuous effort. | Requires extensive grammar, language, formatting, and proofreading skills. |
| Authors can have their control over the pricing of their books. | |
| You can reach readers across the world without worrying about international shipping charges. |
3) Creating An App
Creating an app is also an exciting way of generating passive income. It involves a series of strategic, design, and technical considerations. Your app might be a game or something that can help users in their day-to-day lives. Here are a few things to consider while creating an app.
Firstly, ensure that your app addresses a problem that the existing ones have not met. You can monetize through ads, subscriptions, or in-app purchases. An Android app can be built using Kotlin or Java, and you can choose Swift or Objective C for building iOS apps. Google Play Store is a good platform for publishing your app.
Features:
- Reach: Google Play Store allows you to reach a wider audience, increasing your app’s reach and success rate. It provides direct access to over 2 billion Android users worldwide.
- Easy Updation: You can easily update your app with new features and fix bugs after it’s published.
- Variety: You can publish free, paid, and apps with in-app purchases and subscriptions.
- Analytics: Google Play Store provides powerful analytics to check your app’s performance and success, user engagement, and, most importantly, revenue.
| Pros | Cons |
| Successful apps can generate a decent amount of income. | Developing an app involves technical complexities, including coding, debugging, etc. |
| They can help you reach a global audience. | |
| It will allow direct engagement with the users, which helps build relationships. |
4) Airbnb
Airbnb is an online marketplace that helps people to list and book accommodations. If you have extra space or are going away for vacations, consider renting your space using Airbnb. This can be a good way to use the space you are not using anyway and generate income without putting in much effort. It is essential to consider several factors to ensure a smooth experience.
First, familiarize yourself with local rules and regulations for renting out property. Ensure the property is clean and well-maintained. Conduct a background check on prospective tenants. Research local market trends to determine a fair price for the property.
Features:
- User Friendly: Airbnb provides a user-friendly interface. It means that the hosts can create listings very easily.
- Tools: Hosts can easily manage bookings and block Airbnb’sing Airbnb’s calendar tool.
- Easy interaction: It also provides a messaging platform for the easy interaction of the host and customer before, during, and after the stay.
- Dashboard: The dashboard displays a detailed breakdown of past and future payouts
| Pros | Cons |
| It helps you make the best use of the unused or underutilized space. | Renting out a portion of your home may compromise your personal space and privacy. |
| Hosts can set their own prices for everything. | |
| It also allows you to meet new people and build connections. |
5) Shutterstock
Shutterstock can be a great way to earn a decent income while following your passion for photography. You might work with an organization such as Shutterstock. To get started, you’ll have to be approved by the platform. Then, you license your photos to be used by whoever downloads them. The platform then pays you every time someone uses your photo.
Your photos must be of good quality, artistically pleasing, and arranged. You need to choose a license you want to grant to your images: royalty-free ( purchasers pay a one-time price for unlimited use) or rights-managed ( payment varies based on consumption). Social media sites can be used to share your images and attract more traffic.
Features:
- Large Audience: Shutterstock gives users access to a large global customer base of companies, marketers, and creatives searching for excellent photos for various applications.
- Charges: Customers can license images from Shutterstock for various usage without paying additional royalties by paying a one-time charge.
- Platform: Shutterstock provides an intuitive platform for uploading and submitting images.
- Analytics: Photographers can access analytics and performance indicators from Shutterstock, such as views, downloads, earnings, and trending keywords.
| Pros | Cons |
| You can decide on the best pricing and license options. | The market is competitive since millions of images are already available for sale. |
| There are no restrictions on choosing the images you wish to sell and creating your own schedule. | |
| don’tsually don’t need to pay for physical storefronts, inventory, or shipping. |
6) Prosper
Prosper is a third-party intermediary used for peer-to-peer lending, a personal loan made between you and the borrower. You earn a decent income through the interest payments made on the loans. But you could also end up getting nothing because the loan is unsecured. Here are a few things that you would want to consider.
It can have a lot of risks, including the risk of defaulting on the loan. You are required to conduct proper research on the peer-to-peer lending platform which is being considered. Be aware of the fees that can be charged on these platforms because these can, in turn, affect the overall returns.
Features:
- Purposes: Prosper offers loans for various purposes, including home improvement, debt consolidation, and medical expenses.
- Loans: Investors can invest in individual loans based on their investment goals. It requires minimal effort and has a high-profit capacity and low risk, making it ideal for you.
- Transparent information: It also provides transparent information about loan details and performance, borrower profile, etc.
- Tracking: It offers tools to track the performance of investments, providing insights into returns and other metrics.
| Pros | Cons |
| It may offer higher returns than traditional savings accounts. | It does not offer guaranteed returns. |
| Investors can start with small amounts initially. | |
| Automated investing tools help investors allocate funds according to their risk preferences. |
7) Instagram
Instagram can be a great way of earning passive income especially if you have a good following and engagement on your social media. You can ask consumer brands to pay you to post about their product in your feed. Your profile needs to be kept updated with content that attracts the audience.
You need to ensure that your posts align with the audience’s interests. It is also important to maintain authenticity in sponsored posts. Also, research the reputation and values of various brands ‘before promoting them. Various social media platforms can be used.
Features:
- Popularity: Instagram is a highly popular platform that brands use to reach their target audience.
- Fonts and Styles: It contains new text improvements like text-to-speech voices and updated fonts & text styles.
- Tools: It has various tools and filters to easily create and edit photos and videos.
- Broadcast Channel: You can create your broadcast channel to interact and connect with your audience more.
- Flexibility: It offers flexibility in terms of the type of content you choose to create.
| Pros | Cons |
| This helps you meet and collaborate with new people. | The market is competitive on Instagram, and the platform is becoming saturated with sponsored content. |
| It has a good system for reporting abusive or inappropriate posts. | |
| Authenticity is really valued on Instagram. |
8) YouTube
YouTube can be an amazing way of creating content, expressing your creativity, and generating a decent amount of passive income while building a dedicated audience. YouTube is a great platform for content creators to share their experiences and connect with the audience.
Creators can easily create and upload content on this platform. Here are a few things you might want to consider while creating content. You can choose a niche that aligns with your interests. Create engaging and informative content for the viewers. You can also incorporate relevant keywords in the title or description.
Features:
- Analytics: YouTube provides tools to track characteristics like views, watch time, engagement rate, etc.
- Flexibility: It has different formats, allowing you to create everything from Shorts that run 60 seconds or less to longer-form videos.
- Effortless: It is really easy to upload videos on YouTube. You can upload 15 files at a time!
- Resources: YouTube offers support forums and tutorials to help creators create better-quality content for the audience.
| Prdon’t | ns |
| You don’t need to invest much in creating content in the initial phase. | A lot of time and effort is required for content creation. |
| Connecting and collaborating with other creators allows you to grow in your field. | |
| YouTube has almost 2.49 billion monthly active users. |
Verdict
In conclusion, each of these passive income ideas offers exciting opportunities and potential rewards. We have discussed some of the best passive income ideas. Choose the one that resonates with your passions and goals, invest thoughtfully, and look forward to the financial freedom that passive income can bring in 2024.
| Best For | Passive Income Ideas |
| Best for not to invest much financially | Writing an e-book |
| Best for meeting and collaborating with new people | Using social media |
| Best for following your passion while earning money | Selling photography online |
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