In this article, we discuss the 15 biggest Indian tech companies. If you want to skip our detailed analysis of the Indian tech companies, go directly to the 5 Biggest Indian Tech Companies.
Information technology (IT) is currently the most well-known industry in the world. This is because it can make users’ thoughts come true. Technologies, including machine learning, networking, cloud computing, web technologies, the internet of things, and mobile technologies, among others, are being developed by IT businesses. IT services and business process outsourcing (BPO) are the two primary segments of the Indian information technology sector.
Using innovation hubs and research and development centers to build distinct products, top Indian IT companies like Infosys, Wipro, TCS, and Tech Mahindra are expanding their offers and exhibiting cutting-edge concepts like blockchain and artificial intelligence to customers. In FY22, the IT sector contributed 7.4% of India’s GDP; by 2025, it is anticipated to make up 10% of India’s GDP.
In 2022, technology enabled businesses to adapt to the changing market by allowing them to operate online, modify their products and services, and collaborate with both foreign and Indian end users through a dispersed work model, thus allowing them to keep their operations running. As a result, FY2022 was a stellar year for India’s technology sector, with its highest-ever growth rate of 15.5% and a revenue peak of $227 billion. Platformization and XaaS (anything as a service) were crucial in boosting tech adoption, and it was also the year of the start-ups when Tech start-ups jumped into scale-up mode.
Another significant milestone for the sector was reaching 5 million total direct employees, with a net increase of 445 thousand more than ever. Tech businesses swiftly adapted to hybrid work models thanks to the industry’s “people first, employee-centric” strategy, and the industry’s digital capacity/capability development initiatives have expanded.
The basic capabilities and qualities of Indian IT have drawn considerable investment from important nations. Between April 2000 and June 2021, India’s computer software and hardware industry received cumulative foreign direct investment (FDI) inflows of $74.12 billion. Between 2016 and 2020, Japanese investments in the Indian IT sector increased fourfold. $9.2 billion were invested throughout the review period.
According to a survey from Nasscom, India’s software product sales are anticipated to reach the $30 billion level by 2025 as domestic enterprises increase their worldwide footprints, and a large number of new competitors enter the market.
In addition, according to a recent prediction by Gartner, Inc., India’s IT spending is expected to increase by 2.6% in 2023. Indian firms will continue to expand their investment in important information technology categories in the next year, despite the impending tensions of global inflation and the declining currency.
“Inflation has not impacted enterprise spending on technology globally, and India is no exception to this trend,” stated Arup Roy, VP Analyst at Gartner. “The headwinds are in favor of technology as businesses realized how going digital can benefit them in the long run. Depending upon the maturity level of the digital enterprise, the spending context may be different for different businesses, but overall technology spending will continue to be on the rise in 2023.”
The rapid expansion of the IT and technology sectors in India and abroad has opened up a wide range of job options for competent individuals. Due to the growing demand for digital transformation and automation, a skilled workforce is needed in data analysis, cybersecurity, cloud computing, and software development. Additionally, current projections indicate that 300,000 employment would be created in the Indian IT sector in 2023!
This article will examine the top 15 biggest Indian IT companies. The stocks are ranked in ascending/descending order of their total number of employees. The majority of the data was obtained from each company’s website. We also obtained important additional data about each company, including its income, client base and assets.
Biggest Indian Tech Companies
Number of Employees: 7000
In India, Ola runs a mobile technology platform that connects city transportation for clients and driver partners. Its smartphone application allows clients to book taxis, auto-rickshaws, motorcycles, and shuttle buses. Customers may use Ola’s smartphone app to book city taxis, outstation travel, auto rentals, and corporate travel services. Its mobile app is accessible on Windows, Android, and iOS devices. Ola was started on December 1, 2010, by Ankit Bhati and Bhavish Aggarwal. Its headquarters are in Bengaluru, India, with further offices there. 7,000+ employees work relentlessly to give the greatest technology and support to its consumers.
Number of Employees: 11,080
BYJU’S is a global ed-tech firm that serves over 150 million students worldwide with highly adaptable, engaging, and effective learning solutions. BYJU’S was founded in India in 2011 with the goal of making high-quality learning available to students worldwide. Along with the Company’s acclaimed flagship product BYJU’S – The Learning App, the BYJU’S family of products includes Disney-BYJU’S Early Learn, BYJU’S FutureSchool, Epic!, Osmo, Tynker, Toppr, and WhiteHat Jr. BYJU’s solutions work together to support Pre-K – 12 education as well as a wide spectrum of competitive tests. Blue-chip investors support BYJU’S. The company has acquired more than 15 businesses since 2017, including ones in the United States, the United Kingdom, Austria, India, and Singapore. BYJU’S was valued at $22 billion as of March 2022.
13. Birlasoft Ltd (NSE:BSOFT.NS)
Number of Employees: 12,565
Birlasoft Ltd (NSE:BSOFT) was founded in 1995 as part of the C.K. Birla group. Birlasoft offers its clients various digital and IT-related services in software development, package installation, application administration and testing, and enterprise and digital technologies. Birlasoft increased core revenue by 17% year on year in constant currency terms in FY22, owing to increased demand for digital services (cloud and digital transformation) and business and technology change. The company employs a total of 12,565 people.
12. One 97 Communications Ltd (NSE:PAYTM.NS)
Number of Employees: 17,964
One97 Communications is a parent company of Paytm, which is a leading mobile payment and financial services company. Vijay Shekhar Sharma launched One97 Communications in 2000. The business submitted the offer documentation for the biggest initial public offering (IPO) in India’s history in July 2021. On November 8, 2021, it was listed on the Indian stock markets. The firm provides customers and merchants in India with a variety of digital payment and financial services through its network of subsidiaries and enterprises. Additionally, it offers mobile marketing, payments, and advertising for businesses.
11. Coforge Ltd (NSE:COFORGE.NS)
Number of Employees: 22,000
Coforge Ltd (formerly NIIT Technologies) is a notable mid-sized Indian IT services firm that was founded in 1981. The company offers image identification, RPA, NLP, workflow automation, deep learning, machine learning, multi-currency, multi-lingual, and multi-channel experiences. Coforge Ltd has a $720 million order book.
The ING group, SEI Investments, British Airways, Sabre, and SITA are some of the company’s well-known international clients. Coforge Ltd has established subsidiaries in the US, Singapore, Australia, the UK, Germany, and Thailand. Large IT firms all around the world have business relationships with the company. With technology and subject knowledge, Coforge’s more than 22,000 experts assist their clients in improving their organizations.
10. Hexaware Technologies Ltd
Number of Employees: 29,695
Hexaware Technologies provides IT consulting, software development, and business process outsourcing. Data modernization, cloud services, Internet of things, autonomous testing, technical advising & consultancy, API & integration, application security assurance, data visualization, and marketing operations are among the services offered by the organization. It is a private enterprise and has worked in the sector for 33 years.
The company earns $971 million in sales. Atul Nishar is the company’s founder and chairman, and R Srikrishna is the company’s CEO. The firm has a total of 29,695 employees. The company’s nerve centre is in Mumbai. The firm has 37 offices throughout the world.
9. LTI Mindtree Ltd (NSE:LTIM.NS)
Number of Employees: 120,000
To create the new firm LTI Mindtree (NSE:LTIM), Larsen & Toubro (L&T) concluded the merger of its IT services companies, Larsen & Toubro Infotech (LTI) and Mindtree (LTIM). L&T, the parent business, has a 68.73% stake in the amalgamated organization. Sanjay Jalona, CEO and MD of L&T Infotech, has resigned, and Debashis Chatterjee, CEO of Mindtree, is now in charge of the combined company.
The organization offers a wide variety of IT services, including testing, analytics, artificial intelligence, and application development and maintenance (ADM). LTI Mindtree employs more than 120,000 people across 30 countries and five continents. Next fiscal year, LTI Mindtree revenue is anticipated to reach $5 billion.
8. Tech Mahindra (NSE:TECHM.NS)
Number of Employees: 151,173
Tech Mahindra Ltd, founded in 1986, is a large-cap business in the IT Software industry. The firm’s market cap is $12.01 billion, employing 151,173 people in 90 countries, assisting 941 worldwide customers, including Fortune 500 corporations. It is one of India’s top IT firms. Tech Mahindra is a subsidiary of the Mahindra Group.
Tech Mahindra Ltd revenue from operations stood at INR 44,646 crores ($5.49 billion) in FY2022. It was driven by solid demand across all verticals of the company. The company’s IT services sector generates 88% of revenue, and Business Process Outsourcing generates 12% of revenue.
7. HCL Technologies (NSE:HCLTECH.NS)
Number of Employees: 219,325
HCL Technologies Ltd. is a company that specializes in computer programming, consulting, and other related services. It operates in three segments: software services, information technology (IT), and business process outsourcing services. Its IT and Business Services segment generated 72% in FY22. The firm offers multi-service delivery in important industry verticals by utilizing its broad global offshore infrastructure and network of offices in 46 countries. HCL Technologies Ltd. employed more than 219,000 people worldwide as of the fiscal year 2022.
In FY2022, HCL saw a 13.6% YoY increase in revenue, mostly due to increased demand for technology and digital transformation programmes. This suggests that HCL Technologies Ltd. has a solid financial profile, with a healthy cash position and positive signs for debt coverage. In addition, the business is seeing a significant renewal of transactions and the addition of new deals from existing clients in the field of digitalization. The company signed more than 50 contracts in FY2022, with an $8.3 billion total contract value.
6. Wipro Limited (NYSE:WIT)
Number of Employees: 259,179
Wipro Limited (NYSE:WIT) is a multinational firm that provides consulting, information technology, and business process services (BPS). It stands 4th on the list of the 15 biggest Indian tech companies behind TCS, Infosys and HCL Technologies. The business has three divisions: India State Run Enterprise, IT Services, and IT Products (ISRE). Wipro Limited (NYSE:WIT)’s IT services segment generates about 97% of revenues. Wipro has a workforce of 259,179 people.
The organization claims to support the success of its customers, workers, and communities in a world that is always changing. As of March 31, 2022, Wipro Limited (NYSE:WIT) had a sizable customer base of 1,369 clients, with current customers accounting for 95.2% of the company’s revenue. Wipro is one of India’s major IT service providers, with revenues of $9.76 million in FY2022. In addition, Wipro Limited (NYSE:WIT) added 428 new clients in FY2022.
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Disclosure: None. 15 Biggest Indian Tech Companies is originally published on Insider Monkey.