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The IT industry consists of different types of technology, products and services such as hardwares, softwares, internet and web technologies, cloud computing, e-commerce, machine learning, AI, robotics, and more.
The IT industry in India was born in Mumbai in 1967 with the establishment of Tata Consultancy Services, who in 1971, collaborated with Burroughs which began India’s export of IT services. Today, the IT industry is a major contributor to India's GDP. Many industries are dependent on the IT sector. IT infrastructures are crucial for telecom, insurance, airlines, pharma industry, e-commerce and other industries. To transmit orders and ensure accuracy, food industries require IT softwares. These are just a few examples of the IT industry's widespread influence.
In this blog post, we present to you the list of Top 10 IT Companies in India. For this, we have referred to Forbes' "Top 10 IT Companies in India in 2024 by Market Capitalisation."
Ready to discover the giants that have made India a global IT hub? Here’s a list of the best IT companies in India, consisting of the IT industry’s key players.
Tata Consultancy Services is considered as the first IT company in India. It was founded in 1968 by a division of Tata Sons Limited. TCS is an IT services, consulting and business solutions company that has partnered with many of the world’s largest organizations and assisted them in their transformation journeys for more than 56 years.
Its unique Location Independent AgileTM delivery strategy, which is acknowledged as a standard of excellence in software development, is used to provide its consulting-led, cognitively powered array of business, technology, and engineering services and solutions.
TCS employs more than 601,000 highly skilled consultants across 55 nations. The corporation, which is listed on the Indian BSE and NSE, produced combined revenues of US $29 billion in the fiscal year that concluded on March 31, 2024. Due to its proactive approach to climate change and its award-winning engagement with communities worldwide, TCS has gained recognition in prominent sustainability indices like the FTSE4Good Emerging Index and the MSCI Global Sustainability Index.
Infosys Ltd. is one of the best IT companies in India. It was founded in July, 1981 by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Nandan M. Nilekani, Raghavan N. S., Ashok Arora, and S. D. Shibulal. It is headquartered in Bangalore, India.
Infosys operates through various segments including Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech and Life Sciences.
In many ways Infosys has been a pioneer. An important turning point for the Indian IT sector on the international front was reached in 1999 when Infosys became the first Indian company to be listed on the NASDAQ. With the highest credit rating from the ICRA agency, the company has also been acknowledged for its corporate governance procedures.
Infosys has continuously been ahead of the technology curve, from creating software for customers in the early days to providing innovative solutions in blockchain, cloud computing, and artificial intelligence. Some of the biggest companies in the world belonging to various industries are on its client list, indicating the company's adaptability and level of experience.
HCL Technologies is one of the most popular IT companies in India. It has presence in 59 countries, and is known for delivering industry-leading capabilities revolving around digital, engineering, cloud and AI, fueled by a broad portfolio of technology services and products.
HCL was started as a personal computer-manufacturing company, by a group of eight engineers who were former employees of Delhi Cloth & General Mills, led by Shiv Nadar. Initially the company floated as Microcomp Limited. To gather capital for their main product, they started selling teledigital calculators. The business changed its name to Hindustan Computers Limited (HCL) on August 11, 1976.
HCL Enterprise created a client-server architecture, networking operating system, and RDBMS in 1983 after developing an indigenous microcomputer in 1978. HCL Technologies started out as HCL Enterprise's research and development branch. The primary focus of the business shifted from hardware to software and services through HCL Technologies.
HCL works with clients across all major industries and provides them industry-specific solutions such as Financial Services, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, Public Services and Manufacturing.
Wipro Limited was established on 29th December, 1945. When it was initially incorporated, it was known as Western India Vegetable Products Limited. The company started its operations as a manufacturer of vegetable oil in Amalner, Maharashtra. Later, it expanded into soap and other consumer care products manufacturing.
Today, Wipro Limited is a leading global information technology, business process and consulting services corporation. Its broad range of services, practitioners' approach to delivering innovation, and organization's strong commitment to sustainability and business ethics have earned it widespread recognition. Wipro employs and serves over 131,000 people across 53 countries.
The company values respect, responsibility, integrity and trust. It is committed to contributing to the communities in which it works. In 2018, Wipro was listed as one of the world’s most ethical companies by the Ethisphere Institute, a US-based organization.
LTIMindtree is yet another IT company in our list of top 10 Information Technology Companies in India. It is currently the fifth largest IT company in India by market capitalization, according to Forbes.
LTIMindtree is a subsidiary of Larsen & Toubro, and was established in 1996. It employs more than 81,000 individuals across 30 countries. As a global technology consulting and digital solutions company, LTIMindtree Ltd enables enterprises across various industries to reimagine corporate models, adopt innovation, and maximize their business growth by adopting digital technologies.
A digital transformation partner to more than 700 clients, LTIMindtree contributes vast domain and technological expertise to help deliver superior competitive differentiation, customer experiences, and business outcomes.
One of the biggest and most admired international conglomerates of businesses, the Mahindra Group was established in 1945 and includes Tech Mahindra (NSE: TECHM) Incorporated on October 24, 1986, Tech Mahindra Ltd. is currently the 6th largest IT company in India by market capitalization.
The IT company offers technology consulting and digital solutions to global businesses serving various industries and enables transformative scale at exceptional pace.
A wide range of services is offered by IT giant Tech Mahindra, including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design, AI & analytics, and cloud & infrastructure services.
The company employs more than 150,000 professionals in more than 90 countries where it serves more than 1100 clients. It is the first Indian business to get the Terra Carta Seal from the Sustainable Markets Initiative organization, which honors multinational corporations that are actively spearheading the movement to build a future that is favorable to the environment and the climate.
Oracle Financial Services Software Limited (OFSS) is Oracle Corporation's Indian subsidiary, which is involved in financial and insurance technology. By market cap, it is the top 7th IT company in India. It is headquartered in Mumbai, Maharashtra.
It was established in 1990. Back then, it was known as i-flex solutions. However, in 2008, its name was changed to its current name Oracle Financial Services Software Ltd. As of December 9, 2024, OFSS's market capitalization was ₹1,09,191 Cr. It is classified as a Large Cap company by Value Research.
It provides IT services to the financial services industry. For banks, it offers banking software, cloud-based solutions, revenue management, cloud infrastructure, financial services analytical applications and banking payment solutions. Additionally, OFSS also offers services like BPO business, prime sourcing, application services, consulting services, and technology services.
Some major products of Oracle Financial Services Software Limited are flexcube, flexcube universal banking, banking branch, banking virtual account management, banking API and banking credit facilities process management solutions. OFSS serves various domains like capital markets, banking, wealth management, retail banking, corporate banking, payments, and risk and compliance domain. It operates in Europe, Americas, Asia-Pacific, Middle East, India and Africa.
IT company Persistent Systems was founded in 1990, by Anand Deshpande, a former HP employee, with an investment of $21,000. Today, Persistent Systems Ltd is one of the largest IT companies in India by market capitalization.
The company is a trusted partner when it comes to digital engineering and business modernization. To help the clients stay ahead, Persistent provides deep technical expertise to them. It has collaborated with industry leaders worldwide, including some of the top companies and banks in the USA. It drives innovation across various segments such as healthcare and life sciences, banking, insurance, financial services, software and hi-tech to name a few.
The innovative approach and client focus of Persistent Systems led to $1,186.0M revenue in FY 2024, with 14% Y-o-Y growth. The company has 23,800 employees in 21 countries, through which it empowers industry players around the world through technology solutions.
At CNBC TV 18 India Business Leader Awards 2023, it was recognized as the “Most Promising Company” of the Year and a Leader in Everest Group's Talent Readiness for Next-Generation IT Services PEAK Matrix 2023. For excellence in customer service, it also received four 2023 ISG Star of Excellence Awards.
Formerly known as NIIT Technologies, Coforge Ltd is a leading IT company in India. It is a subsidiary of Hulst BV, is an information technology company founded in 1992. It is an Indian IT MNC based in Noida in India and New Jersey in the United States.
Coforge is an international digital services and solutions provider that assists clients in transforming through emerging technologies and domain expertise and achieve real-world business impact.
The unique perspective of Coforge comes from concentrating on a small number of businesses, having a thorough understanding of the fundamental workings of those industries, and collaborating with the leading platforms.
This IT company is a leader in product engineering and uses automation, cloud, data, and integration technologies to transform client companies into smart, high-growth corporations. Coforge's primary segments are dependent on its proprietary platforms to power essential business activities. With 26 distribution sites spread across nine nations, the company is present in a total of 21 countries.
Mphasis Limited is one of the top IT companies in India. It was incorporated in 1992 as a public limited company known as ‘BFL Software Limited’. Its founders are Jerry Rao and Jeroen Tas.
It provides a wide range of services including infrastructure technology and applications outsourcing services, architecture guidance, application development and integration, and application management services.
The purpose of IT firm Mphasis is to be the driver in a driverless car for global entities by applying next generation design, architecture and engineering services, to provide sustainable software and technology solutions.
The Mphasis emphasizes on customer centricity and the same is reflected in the company’s Mphasis’Front2BackTM Transformation approach. Through the company’s application of digital technologies across legacy environments within an enterprise, businesses stay ahead in an evolving world.
In this blog post, we discussed the top 10 IT companies in India. These companies not only have a presence in India, but also across the globe. They serve some of the key industry players, and assist businesses to grow.
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Q1. Who is known as the father of the Indian IT industry?
A. Faqir Chand Kohli is often regarded as the father of the Indian IT industry. He was the founding CEO of Tata Consultancy Services (TCS), which helped to establish and grow the Indian IT industry.
Q2. Which IT company became the first Indian company to be listed on NASDAQ, an American Stock Exchange?
A. The first Indian company to be listed on the NASDAQ was Infosys in 1999.
Q3. Which company is the top IT company in India by market capitalization?
A. Tata Consultancy Services (TCS) is the top IT company in India by market capitalization, as of 2024.
Disclaimer: This ranking is derived from Forbes' "Top 10 IT Companies in India in 2024 by Market Capitalisation." Please note that rankings are subject to change over time. We do not assume responsibility for any discrepancies or updates to this information.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.
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