The Indian IT industry is a dynamic and vibrant sector, a testament to the country’s capacity for innovation and technological advancement. With its roots tracing back to the late 20th century, the industry has grown exponentially, transforming India into a global IT powerhouse. Today, India is recognised worldwide for its technological prowess and is home to some of the world’s leading IT companies.
This article aims to spotlight India’s top 10 IT companies: We rank them based on their market capitalisations derived from respective stocks trading on the NSE as of November 15, 2024.
Top 10 IT companies in India: A closer look
Now that we know which ones rank the highest among India’s best IT companies let’s take a deeper insight into our current top 10 IT companies in India:
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Tata Consultancy Services
- CEO: K Krithivasan
- Headquarters: Mumbai, Maharashtra, India
- Founded on: April 1, 1968
TCS, the largest IT company in India, is a worldwide frontrunner in providing IT services, consulting, and business solutions. Founded in 1968, it is one of the oldest IT companies in India. With its vast array of services, TCS has a significant presence in various sectors, including banking, retail, telecom, and healthcare.
TCS recently partnered with AIB Life, the newly-formed joint venture of Allied Irish Banks and Great-West Lifeco, to launch operations in Ireland and give AIB’s customers access to financial advice and other financial services through their phone with the AIM mobile banking app. This was done with its flagship insurance platform TCS BaNCS.
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Infosys
- CEO: Salil Parekh
- Headquarters: Bengaluru, Karnataka, India
- Founded on: July 2, 1981
Infosys is a prestigious global company specialising in cutting-edge digital services and consulting. Established in 1981, Infosys has been instrumental in driving the IT revolution in India. With its strong focus on innovation and sustainability, Infosys provides business consulting, information technology, and outsourcing services.
In June 2023, Infosys allied with Danske Bank with the goal of accelerating digital transformation. The deal is worth $454 million for a period of 5 years to start with.
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HCL Technologies
- CEO: C Vijayakumar
- Headquarters: Noida, Uttar Pradesh, India
- Founded on: November 12, 1991
HCL Technologies is a modern, international technology company that assists businesses in transforming their operations for the digital era. Founded in 1976, HCL offers an integrated portfolio of products, solutions, services, and IP through its Mode 1-2-3 strategy.
HCL Tech has recently launched a Global Delivery Centre in Rabat, Morocco, to lead transformation projects for clients in areas such as digitisation, cloud, AI, and software.
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Wipro Limited
- CEO: Srini Pallia
- Headquarters: Bengaluru, Karnataka, India
- Founded on: December 29, 1945
Wipro Limited is a top-tier international company specialising in information technology, consulting, and business process services. Founded in 1945, Wipro utilises cognitive computing, hyper-automation, robotics, cloud, analytics, and other innovative technologies to assist clients in adapting to the digital landscape.
Wipro has recently announced that Wipro FullStride Cloud has partnered with Pure Storage, an enterprise data storage solutions provider, to help clients speed up the sustainability journey.
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LTIMindtree Ltd
- CEO & MD: Debashis Chatterjee
- Headquarters: Bengaluru, Karnataka, India
- Founded on: December 23, 1996
LTIMindtree Ltd is a well-established and highly regarded global technology consulting and services provider. The company boasts a unique combination of scale and agility, which sets it apart from others in the industry.
LTIMindtree partnered with Schneider-Neureither & Partner (SNP) in June 2023 to launch “Fast Forward” for Bluefield integration. Fast Forward is a full lifecycle solution meant to speed up migration to the SAP S/4HANA platform for an enterprise with the least possible risk while also allowing them to retain ERP.
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Tech Mahindra Ltd
- CEO & MD: Mohit Joshi
- Headquarters: Pune, Maharashtra, India
- Founded on: October 24, 1986
Founded in 1986, Tech Mahindra is committed to delivering innovative and customer-centric IT solutions for the interconnected world. It is a subsidiary of the Mahindra Group.
In March 2023, Mohit Joshi was appointed Tech Mahindra’s MD & CEO designate, and he suceeds Gurnani who retired on December 19, 2023. Notably, Joshi was previously the President at Infosys.
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Oracle Financial Services Software Ltd
- CEO: Makarand S. Padalkar
- Headquarters: Mumbai, India
- Founded on: December 4, 1989.
Oracle Financial Services was established in 1990. It provides the world’s most comprehensive and contemporary banking applications and technology footprint that addresses complex IT and business requirements.
AmBank (M) Berhad, a financial organisation from Malaysia, has recently extended its technology relationship with Oracle and signed a deal for its Financial Analytical Applications. Further, Ajman Bank from the Emirate of Ajman, UAE, has also signed a deal with Oracle and subscribed to the Oracle Financial Services Analytical Applications Cloud Service.
Persistent Systems Ltd
- CEO: Sandeep Kalra
- Headquarters: Pune, Maharashtra, India
- Founded on: May 16, 1990
Persistent Systems is a worldwide company that provides solutions for accelerating digital business and modernising enterprises. The company was founded in 1990 and is recognised for its extensive knowledge of technology.
Persistent got Sandeep Kalra as a professional CEO in the middle of the Covid-19 crisis in 2020, after founder Anand Deshpande didn’t see a successful journey for the firm with Christopher O’Connor, an IBM executive. After inheriting the CEO title, however, Kalra steered the company to entirely new heights. For instance, his goal was to get $1 billion in annual revenues in six to eight quarters, as stated in the third quarter of FY 2022. The company reached this goal by the March quarter of FY 2023, in just five quarters.
Notably, Kalra is an HCL Tech veteran, and he has also worked for Samsung in the past.
Coforge Ltd
- CEO: Sudhir Singh
- Headquarters: Greater Noida, Uttar Pradesh, India
- Founded on: May 13, 1992
Coforge was formerly known as NIIT Technologies. It was incorporated in 1992, and in 2020, it was rebranded as Coforge. The multinational information technology company offers services in Digital supply chain, Artificial intelligence, Cloud infrastructure, Data management, and Enterprise applications categories. Recently Coforge acquired Cigniti Technologies to expand its capabilities in digital assurance and engineering services in the retail, healthcare, and hi-tech verticals. The acquisition allows Coforge to ramp up its client base and enter new segments. According to a Moneycontrol report, Coforge currently derives 48 percent of its global revenues from its North American operations.
Mphasis Ltd
- CEO & MD: Nitin Rakesh
- Headquarters: Bengaluru, Karnataka, India
- Founded on: June 6, 2000
Mphasis, established in 1998, applies next-generation technology to help enterprises transform businesses globally. It is uniquely positioned to drive digital transformation in enterprises through its seamless service delivery, business process expertise, and integrated portfolio of services.
While Mphasis notably underperformed in the last quarter of 2022 and is still going through somewhat tumultuous conditions, BlackStone’s investment in the enterprise continues to be a strong backbone for the company, along with the co-investment from the Abu Dhabi Investment Authority and The Regents of the University of California.
