Certainly not. You can not do any business. You can keep books in a library and give it on chargeable basis. This is exempted.

There are some other exemption as to limited use for purposes mainly for  religious , researches and education in school colleges .

You can legally sell or rent out original physical books but can not make copy of it and then sell or rent out the same.

He can rent it out there is no law prohibiting him

1.  Legally there is no bar in Renting /Reselling /Donating a duly purchased book, for his own personal benifit /reasons.

2. HOWEVER, the contents of the Proprietary Book cannot be copied physically, hardcopy, softcopy or reproduced in any manner by photocopy or any other means.

Can give on rent. No bar. After purchase buyer get exclusive right on article/product and can permit the other to use it in exchange of whatsoever.

Only content of books is exclusive right of author and cannot be used for personal use.

Yes if the copy is rightfully obtained by purchase then user can rent it to other users to earn some money from books. 

- As per law, publishing/photocoping for the purpose of selling is not legally allowed without the prior consent of the author/writer.

- But , renting the books for the purpose of profit making is not against the rules and norms of copyright, limited to the some publishers , who barred this as well.

- Howeve, in a recent judgement , Delhi High court orders in favour of photocopy centres around the Delhi university, and allowed them to sell the photocopy of books as well.

If you have purchased that particular book, buy inserting your stamp on it and instead of using rent word use online library services.

You can not do the said business if the book is prohibited by law. You may give such books on rent which are allowed by the law to be distributed. 

Regards

The laws in India state that once the physical copy of a book is purchased, it no longer the property of the publisher and you can use it as you feel fit with the exception that you are not allowed to copy the content within the book and use it for commercial use because the content is copyrighted by the publishers. Thus the renting of physical copies of books is perfectly legal.

Dear Concern,

Please note - 

01. Gaining professionally from the work done by someone else is a criminal offence and is known as Wrongful gain. Since you are not the original writer of that book or the publisher or distributor of the book so gaining profit out of that book by renting it out to other people will amount to wrongful gain. 

02. Till the point it is limited to 01 to 02 thousand rupees a month no one will bother but the moment it runs into 10s and 100s of thousand in a month everyone will come after you and will claim demure, damages, compensation also. 

03. So the best thing to do would be to have a word with the publisher and to have an agreement on this part of your business. They will easily allow you to do that by entering into the agreement and then do whatever you want to do. 

For e.g. if you are renting out a book for Rs. 10 on a per day basis so they will ask you to pay Rs. 02 or Rs. 03 (depending on the negotiation) to keep the remaining Rs. 07 or 08 with yourself. 

The book will be protected by copy rights.

Hence he cannot sell the contents or reproduce it in any manner that may infringe the copy rights.

However there may not be any restriction for him to rent it out because he has purchased it and not reproducing the contents in any manner which may be considered as illegal, however renting out the same may not be considered as an illegal act.