Among all the booming industries in India, the IT sector undoubtedly stands out as one of the fastest-growing. Many experts predict that by 2025, India’s IT industry will contribute nearly 10% to the country’s total GDP, a milestone that seems well within reach. In fact, the IT sector already contributed a remarkable 7.4% to India’s GDP back in 2022, demonstrating its critical role in the nation’s economic framework. The success of this sector can be attributed to several major companies that have worked relentlessly to drive innovation and support India’s economy.

If you want to learn about the biggest IT companies in India, you’re in the right place. We’ll walk you through some of the top names that have shaped the landscape of India’s IT industry. Let’s dive right into it.

Top 10 Biggest IT Companies in India

1. Tata Consultancy Services (TCS)

Tata Consultancy Services (TCS), established in 1968 by J. R. D. Tata is one of the biggest IT companies in India. Headquartered in Mumbai, TCS has spread its operations to 150 locations across 46 countries. As of 2023, it employs over 613,974 professionals, making it a powerhouse in the IT world. Initially, TCS supported Tata Steel with punch card services, later evolving to create systems for large clients like the Central Bank of India and the Unit Trust of India.

The company made significant strides in the international market when it developed an electronic system for a Swiss firm in 1975. In 1980, TCS founded the Tata Research Development and Design Centre in Pune, focusing on cutting-edge technology and innovation. When TCS went public in 2004, it marked a new era for the company. It became the first Indian IT company to surpass $10 billion in annual revenues in 2011-12.

2. Infosys

Infosys, one of the global IT giants, was founded on July 2, 1981, by seven engineers in Pune. The company is now headquartered in Bangalore and boasts a workforce of over 336,000 employees as of June 2023. Infosys had humble beginnings, starting with an initial capital of just $250. The company went public in 1992 and was renamed Infosys Limited in 2011. Its 1993 IPO was a game-changer, with Morgan Stanley acquiring a 13% stake, igniting the company’s growth.

Infosys achieved multiple milestones, including becoming the first Indian company listed on Nasdaq in 1999. The company’s revenue climbed steadily, reaching $100 million in 1999, $1 billion in 2004, and $10 billion in 2017. Today, Infosys offers a wide range of services like software development, consulting, and cloud services, alongside products like NIA, its AI-powered platform.

3. Wipro

Wipro Limited, founded in 1945 by Mohamed Premji in Amalner, India, started as a vegetable and refined oils company. However, it was Mohamed’s son, Azim Premji, who transformed Wipro into a global IT giant in the 1970s and 80s. Wipro changed its focus to IT services and consultancy and became Wipro Limited in 1982. The company went on to be listed on the New York Stock Exchange in 1999, earning over $1 billion in revenues by 2004.

Today, Wipro offers various services, including IT, consulting, digital transformation, cloud computing, and AI. With a presence in 167 countries, Wipro is a truly global company. Its growth includes strategic acquisitions, such as a California tech firm in 2006 and a Danish design consultancy in 2015, among others.

4. HCL Technologies

Founded by Shiv Nadar in 1976, HCL Technologies began as Hindustan Computers Limited, focusing primarily on hardware. By 1991, the company pivoted to software services and rebranded itself as HCL Technologies. With operations in 52 countries and a workforce of over 225,944 employees, HCLTech has become a global leader. The company ranks among India’s top 20 publicly traded companies and is listed on the Forbes Global 2000.

HCL’s early success in India’s IT sector was driven by innovations such as developing a microcomputer in 1978 and networking solutions in 1983. The company became an independent entity in 1991, focusing on software services, and it continues to grow, making its mark across multiple industries.

5. Tech Mahindra

Part of the renowned Mahindra Group, Tech Mahindra was founded on October 24, 1986. Initially, it was a joint venture with British Telecom, but by 2012, British Telecom had sold its stake, allowing Tech Mahindra to grow independently. A major turning point for the company came in 2009 when it acquired Satyam Computer Services, post-Satyam scandal, significantly boosting its presence in the IT services sector.

By 2013, Tech Mahindra had fully integrated with Mahindra Satyam, making it one of the largest software services companies in India. Tech Mahindra has continued to expand its offerings through strategic acquisitions, notably acquiring companies in telecom, financial services, and design.

6. Mphasis

Founded in 1998, Mphasis Limited has established itself as a leading IT services and consulting firm. It originated from the merger between Mphasis Corporation (US) and BFL Software Limited (India). Mphasis primarily focuses on serving industries like financial services, telecom, logistics, and technology.

The company experienced a significant transformation in 2016 when Hewlett Packard Enterprise sold a majority stake to Blackstone Group for $1 billion. This shift brought fresh leadership and vision to Mphasis, positioning it as a top player in the IT industry. Ranked among the top 10 Indian IT companies by Fortune India 500 in 2019, Mphasis continues to thrive globally.

7. LTIMindtree

LTIMindtree Limited was initially established as L&T Information Technology Ltd in December 1996, as a subsidiary of Larsen & Toubro. Over the years, it underwent multiple transformations, including a merger with Mindtree in May 2022. This merger was finalized in November 2022, making LTIMindtree one of India’s largest IT service providers by market cap and revenue.

LTIMindtree has expanded its global presence and enhanced its service offerings through strategic acquisitions, such as purchasing Cuelogic Technologies and Powerupcloud Technologies to bolster its digital engineering and AI capabilities.

8. Accenture

Accenture plc, originally known as Andersen Consulting, is a multinational IT services and consulting firm. Its journey began with a groundbreaking project for General Electric using one of the first large computers in the U.S. Following a split from Arthur Andersen in 2000, Andersen Consulting rebranded itself as Accenture, reflecting its forward-thinking vision.

Accenture went public in 2001 and has since grown exponentially, although it has faced challenges like the NHS IT project in the UK. Despite hurdles, Accenture continues to expand, securing major contracts and solidifying its presence in the IT industry.

9. Oracle Financial Services Software

Oracle Financial Services Software, a subsidiary of Oracle Corporation, specializes in providing technology solutions for the financial and insurance sectors. Established in 1990, Oracle Financial Services Software originated from Citicorp’s software division, later known as i-flex Solutions. Its flagship product, Flexcube, became a top banking software solution globally.

Oracle began acquiring i-flex in 2005 and rebranded it as Oracle Financial Services Software in 2008. The company offers a wide range of products and services, including cash and wealth management solutions, under the larger Oracle Corporation umbrella.

10. Coforge

Formerly known as NIIT Technologies, Coforge Limited has evolved from a small division within NIIT into a billion-dollar IT company. Established in 1992, Coforge has grown internationally, with offices in Noida, New Jersey, and beyond, employing over 21,000 people. The company has made significant acquisitions, such as partnering with RuleTek and receiving investments from Baring Private Equity Asia.

Coforge rebranded itself from NIIT Technologies to Coforge in 2020, marking a new chapter of growth and expansion. The company has continued to grow by acquiring SLK Global Solutions, adding 10,000 employees to its workforce.

Conclusion

The biggest IT companies in India have played a monumental role in shaping not just the nation’s economy but also the global IT landscape. With continuous innovations, strategic expansions, and an unwavering commitment to growth, these companies have set the stage for India’s IT sector to reach new heights. Whether you are an investor or a tech enthusiast, these industry giants are sure to continue making headlines and contribute to India’s booming economy.