India has long been a technological hub of innovation and excellence in the information technology field and contributes a massive 10% of the total research and development costs in Asia.
The number of scientific papers it has produced between 2000 and 2015 has seen it overtake Russia and even France in the total amount of documents per year.
While it still lags behind the powerhouses of China and the USA, it creates homegrown, multinational IT companies that provide software and services to numerous large corporations. So much so that Google has announced a $10 billion investment over the next 5 to 7 years, and other companies have also set up regional offices.
Several large Western and Chinese technology businesses also have regional headquarters based in India due to its young and educated population.
These large companies require significant investments in some backend technologies such as hosting and servers like those mentioned by Fortune Lords. This list is in no particular order and goes through some of the top Indian tech companies that are homegrown and support many other global businesses through their high-quality services.
Tata Consultancy Services
Headquartered in Mumbai, Tata is better known for its automobile business, and it is also a significant player in information technology consultancy worldwide. It is the second-largest Indian corporation by market cap and the first Indian tech company to reach $100 billion capitalization. Moreover, between 2001 and 2018, it acquired 16 foreign and domestic IT business from the USA and Europe. Its consultancy services range from application development and maintenance, which accounts for the lions share of its revenue, to engineering and industrial services, not surprising given its parent company involved in the automotive industry.
Infosys is another Indian company based around business and information tech consultation. Based in Bangalore, it is second only to Tata Consultancy Services, with a market capitalization of nearly $50 billion.
Wipro (formerly, Western India Palm Refined Oil Limited) has its origins back in the 1940s and was originally a manufacturer of oils, hence the name. However, during the 70s and 80s, it started to branch out into IT services, which were in their fledgling beginnings in India. In 2013, Wipro spun off its IT department into a privately owned company called Wipro Enterprises.
Based in Bangalore, Mphasis is a high tech business providing critical infrastructure and other ventures, including architecture and the integration of locally developed applications. Mphasis has the main focus on providing services to the following business areas:
● Tech industries
It was ranked by Fortune 500 India in 2019 as in the top 7 of all IT companies in India.
Hewlett Packard wholly acquired it in 2008 for $13.9 billion. After which it sold onto the Blackstone group in 2016.
Founded in 1999, Mindtree is a multinational IT and outsourcing business with head offices in two continents, India and the USA. Not only this, but it has 43 offices in 18 countries and is an authentic Indian success story. While it isn’t in the top tier when it comes to market capitalization, it is part of the new wave of Indian technology companies that saw the industry’s future and set up accordingly. It also has a philanthropic arm, the Mindtree Foundation, that helps those with disabilities and provide scholarships for the economically disadvantaged.
This technology company was created in 1989 by Kamal K. Singh and is listed on the Bombay Stock Exchange. Very much with an eye to the future, Rolta focuses on providing big data analytics, engineering solutions, and business intelligence for major corporations around the world. Rolta is a genuinely international business, having its GDRs listed in the LSE and some of its debt on the Singapore Stock Exchange.
This company was a struggling business before being led by Indian businessman Rusi Brij. Its stock price had tumbled due to an undesirable merger with Aptech Inc., but Rusi Brij managed to steer it into more profitable areas such as financial services and even into the crowed healthcare technology sector. This turnaround created one of India’s top 20 software service businesses and a shining example of Indian business acumen.
Even though Endive is one of the smaller companies here, it should be noted for its current client lineup, including Audi and Ford in the automotive sector and Hugo Boss and Johnsons & Johnsons in the beauty space. Its primary focus is on web and app development and has a strong presence with cloud computing.
This is one of the more extensive and most varied Indian technology companies, having over 147,000 employees in 44 countries; it is a vast conglomerate. Its business is extraordinarily multifaceted and includes the following sectors:
● Aerospace and defense
● Automotive, banking
● Capital markets
● Chemical and process industries
● Energy and utilities
● Industrial manufacturing
● Consumer goods
● Life sciences
● Media and entertainment
● Mining and natural resources
● Oil and gas
● Travel, transportation, logistics & hospitality
With many subsidiaries and interests around the world, it isn’t quite as large as Tata in terms of raw figures, but its global footprint is enormous, especially when it comes to technology due to its acquisition of select IBM products.
Larsen & Toubro Infotech
Finishing off with perhaps the most mature IT company on the list. Based in Mumbai, Larsen & Toubro Infotech is a worldwide player in IT services and was formed in 1996 as L&T Information Technology Ltd, this is a company that knows precisely what industry it is in and does it well. Rated in 2017 as in the top 15 IT service industries worldwide, it has offices in all major countries and provides b2b services ranging from cloud computing to cyber defense.
Many more innovative technology companies originate from India, but those on this list are genuinely standout examples. There are numerous smaller outfits just getting into this space, and with India’s focus on producing high-quality homegrown university graduates and overseas students, India has a bright future for providing IT solutions for global industries.