It is no hidden secret that when it comes to technology and IT services, India is for sure one of the top-ranking countries out there. And thankfully, along with the dominance of international companies in the country, there are some Indian tech companies that have literally hit big. And if you want to know how big we are actually talking about, well, then just keep on reading this post, and by the end of it, you’ll find that out. But how? Well, here we are just to share a list of the top 10 biggest tech companies in India as of 2024. So, let’s get to the list, shall we?
1. Tata Consultancy Services (TCS)
Once again, TCS is the Global Top Employer for the seventh year in a row. With a market valuation of ₹15.10 lakh crores as of July 2024, TCS dominates the Indian IT industry and that’s a no-hidden secret, right? Though, this year, they increased their brand worth by $2 billion to $19.2 billion. Latest TCS venture? Expanding its Microsoft partnership to develop AI-powered autonomous industrial process optimization solutions. If that wasn’t enough, they constructed a new delivery facility in Londrina, Brazil, to create 1,600 digital transformation and AI employees. All of it goes to show that sure, TCS is one company that deserves to be on this list, not just because of their market share and market capitalization numbers, but also because of the work they put in.
2. Infosys Limited
Infosys Limited, with a market valuation of ₹7.15 lakh crores, signaled its inventiveness by acquiring InSemi, a semiconductor design leader, did you know about that already? This strengthens Infosys’s “Chip-to-Cloud” approach, you know, making them a semiconductor ecosystem powerhouse. Right now though, they’re also working with Sector Alarm, a leading European security provider, to integrate cloud technology into its core systems. Their specialty is sustainability, having been carbon neutral for five years and digitally upskilling 11.75 million individuals, that just goes to show that tech and sustainability can coexist.
3. HCL Technologies
With a market valuation of ₹4.25 lakh crores, HCL Technologies represents innovation, sounds cliche but that’s how it is. They earned $13.3 billion in FY24, up 5.4% from last year, you know? Though, a fascinating relationship with Intel Foundry for AI-driven chip production shows HCL’s tech-forward attitude. And for sure, this acquisition strengthens HCL’s wealth management solutions, demonstrating their strategic growth. Their strong MSCI ESG ratings and S&P Global Sustainability Yearbook participation demonstrate their social responsibilities too.
4. Wipro Limited
Wipro Limited, valued at ₹2.93 lakh crores, remains a leader in tech innovation once again, especially right here in India. Their increased AI chip design partnership with Intel Foundry shows their forward-thinking. Wipro launched an on-premise Generative AI solution with HPE to improve operations. its $1 billion Wipro ai360 AI investment solidifies its technological leadership, that’s for sure. And yes, Wipro’s engagement with Close Brothers to upgrade IT ecosystems demonstrates their commitment to transformational tech.
5. LTIMindtree
The merger of Larsen & Toubro Infotech and Mindtree created LTIMindtree, a tech giant worth ₹1.62 lakh crores as of July 2024. Currently, though, LTIMindtree is rolling with a $5.64 billion revenue in FY24. Innovative projects like ‘Minecraft 2.0,’ ‘Everest,’ and ‘Neo’ are growing crucial markets for them. LTIMindtree’s financial stability and strategic alliances with global tech giants like Microsoft, AWS, and Google Cloud ensure they deliver cutting-edge solutions and accelerate digital transformations.
6. Tech Mahindra
With a market valuation of ₹1.48 lakh crores, Tech Mahindra is a leader in AI right now. And yes, talking about something very recent, you see, their TechM amplifAI0->∞ suite democratizes AI deployment for enterprises worldwide. On top of that, they also created a sports cloud platform with AWS using AR/VR and metaverse technology. Strong financial performance with ₹13,101 crores in Q3 2024 revenue. On top of that, the collaborations with Pegatron and Etihad Etisalat demonstrate their 5G and GenAI loyalty program strategies.
7. Persistent Systems
Persistent Systems, valued at ₹0.73 lakh crores, excels in digital engineering as we all know. Their FY24 revenue of $1.186 billion shows an excellent increase in the last few years or so. The development of an open-source maintenance service and increased AWS collaboration show their innovation. Four ISG Star of ExcellenceAwards shows us how good of a tech company Persistent is and what they mean for their clients.
8. Mphasis
Mphasis, valued at ₹0.53 lakh crores, is a top provider of cloud and cognitive services right here in India. Right now though, they innovated with Mphasis.ai, promoting AI adoption across industries, despite market hurdles. Their Kore.ai relationship improves AI integration, resulting in a record USD 707 million TCV in Q1 FY24. And yes, in Q4 FY23, they recorded ₹33,893 million in revenue, a 4.5% year-over-year increase overall.
9. KPIT Technologies
KPIT Technologies, valued at ₹0.50 lakh crores as of July 2024, is a major automotive tech player. KPIT is rising with 40.4% revenue and 56% PAT growth in FY24. Talking about something recent, you see, their strategic focus is shown by their $261 million Q4 FY24 TCV and investment in AirConsole for in-car entertainment. All in all, with over 13,000 employees worldwide, KPIT prioritizes talent acquisition and competency development.
10. Coforge Limited
Last on the list, for FY24, Coforge Limited, with a market valuation of ₹0.37 lakh crores, experienced significant growth with a 13.3% constant organic growth. And fairly recently, they signed a $400 million TCV transaction in Q4 FY24. Strategic acquisitions like Cigniti Technologies strengthen their US market footprint. All in all, their business transformation is driven by Gen AI-based autonomous self-service offering Orion and AI platform Quasar.
Conclusion
That’s all there is for now. Since this list was all about Indian tech companies, we haven’t listed any foreign companies that are absolutely crushing it in the IT and tech scene in India. Anyway, we hope that for whatever reason you were looking for this list, we hope that our today’s post delivered just that.
