Top 10 Biggest IT Companies in India

Among all the other sectors in India, the IT sector is for sure one of the fastest growing right now. So much so that many experts have begun to estimate that India’s IT sector will likely contribute about 10% to the nation’s total GDP by 2025. And it is not just an estimation anymore. Nope! You see, back in 2022, the IT sector of India has already contributed a whopping 7.4% to India’s total GDP, which is pretty significant in our opinion. And yeah, all of that was only possible because of some big names in the IT scene of India, we are talking about the big companies who are working day in and day out to strengthen India’s economy.

If you are here to know more about these IT companies, then you are at the right place because we are about to give you a lowdown on the top 10 biggest IT companies in India this year. So yeah, let’s get to it then.

1. Tata Consultancy Services

Tata Computer Systems (Known as Tata Consultancy Services) is one of the biggest private companies in India, was started way back in 1968 by J. R. D. Tata, is now a giant in Mumbai, with its presence in 150 places across 46 countries. And as we talk about 2023, TCS boasts a massive team, over 613,974 people strong. Initially, they were all about assisting Tata Steel with punch card services, and then they moved on to develop systems for big names like the Central Bank of India and the Unit Trust of India.

A big moment was in 1975 when TCS made an electronic system for a Swiss company, stepping into international markets. Then in 1980, they set up the Tata Research Development and Design Centre (TRDDC) in Pune, really focusing on new tech and ideas. In 2004, TCS went public, starting a new chapter. They hit some major milestones, like being the first Indian IT company to make over $10 billion in a year in 2011-12.

2. Infosys

Infosys is a big deal in global IT. Seven engineers started it in Pune, India, on July 2, 1981. Now, it’s in Bangalore and has over 336,000 employees as of June 2023. Remember, this IT company began with just $250. They went public in 1992 and became Infosys Limited in 2011. Their 1993 IPO was a big deal, even though it didn’t get much interest at first. Morgan Stanley stepped in, buying 13% of it. This was the start of Infosys’s big growth.

In 1999, they were the first Indian company on the Nasdaq, and their share price really jumped. They reached $100 million in revenue in 1999, $1 billion in 2004, and $10 billion in 2017. Infosys offers a lot of services, like software development and maintenance, and has products like NIA (Next Generation Integrated AI Platform), Infosys Consulting, cloud services, and whatnot.

3. Wipro

Wipro Limited, founded in 1945 in Amalner, India, by Mohamed Premji, is a key IT and consulting company. It first focused on vegetable and refined oils, but Azim Premji, Mohamed’s son, switched to IT in the 70s and 80s, making it a global IT leader. They changed names a couple of times, landing on Wipro Limited in 1982. A big moment was listing on the New York Stock Exchange in 1999 and earning $1 billion in 2004.

They offer lots of services like IT, consulting, cloud computing, security, digital transformation, robotics, analytics and AI. They work with customers in 167 countries, showing how global they are. Wipro’s story includes buying companies like a California tech company in 2006, an Australian analytics company in 2012, a Danish design consultancy in 2015, and a cloud services consultancy in 2016.

4. HCL Technologies

It all started back on August 11, 1976, when Shiv Nadar kicked things off. It was originally called Hindustan Computers Private Limited. But then, in 1991, it became its own thing, focusing more on software services. Now, HCLTech is everywhere, in 52 countries, and it’s got a whopping 225,944 people working for it. It’s on the Forbes Global 2000 list and is one of India’s top 20 publicly traded companies. The company didn’t always do software and services though, it actually started with hardware. But yeah, they shifted gears to software eventually.

They were part of HCL Enterprise at first, doing some pretty cool R&D stuff for India’s IT and computer industry. They even came up with their own microcomputer in 1978 and some networking magic in 1983. Then, on November 12, 1991, HCL Technologies became its own entity, focusing on software services.

5. Tech Mahindra

So, let’s talk about Tech Mahindra now. Part of the big Mahindra Group, this company has been making waves in the IT services and consulting scene since October 24, 1986. Their journey kicked off as a joint venture with British Telecom. Initially, British Telecom had a big slice of Tech Mahindra, but by 2012, they were out of the picture. That’s when Tech Mahindra really started to grow. A big game-changer for them was taking over Satyam Computer Services in 2009, right after that whole Satyam scandal. This move made them even bigger and better.

In 2013, they finished merging with Mahindra Satyam, turning into India’s fifth-largest software services company. They’ve been on a buying spree, too, picking up companies in telecom, financial services, and design. Like in 2019, they snapped up DynaCommerce BV and the BORN Group.

6. Mphasis

Mphasis Limited is a big deal in the IT services and consulting world and came to life in 1998. It’s a mash-up of Mphasis Corporation from the US and BFL Software Limited from India. They started by focusing on infrastructure technology, outsourcing services, and all that stuff. They mainly work with financial services, telecom, logistics, and tech industries. They even got ranked #7 in Indian IT companies by Fortune India 500 in 2019.

Big things happened in April 2016 when Hewlett Packard Enterprise sold most of its Mphasis stake to Blackstone Group LP for a whopping $1 billion. This was a new chapter for Mphasis, with fresh leadership and direction. They’ve had some major moments, like when Electronic Data Systems bought a controlling stake in 2006, and then they became part of HP in 2008.

7. LTIMindtree

LTIMindtree Limited, a big name in IT, started out in December 1996 as L&T Information Technology Ltd, a subsidiary of Larsen & Toubro. Over time, it changed a lot, even its name! It became Larsen & Toubro Infotech Limited in 2001-2002, then simply ‘LTI’ in 2017. But in May 2022, it joined hands with Mindtree, another IT branch of Larsen & Toubro. This merger, done and dusted by November 2022, was huge. It made LTIMindtree India’s fifth-biggest IT service provider by market cap and sixth by revenue.

They’re now a big fish in the IT sea, working globally in places like North America, Europe, Asia Pacific, you name it. They’ve bought companies like Cuelogic Technologies and Powerupcloud Technologies to get even better at stuff like digital engineering and AI.

8. Accenture

Accenture plc, originally Andersen Consulting, is a global big player in IT services and consulting. It all started with a big project for General Electric, using one of the first big computers in the U.S. But things got rocky with Arthur Andersen. By 2000, they split, and Andersen Consulting transformed into Accenture. What’s in a name? For them, it’s all about looking ahead.

They went public in 2001, and boy, did they grow. But they faced challenges, like the NHS IT project in the UK. Still, they keep growing, making deals and stirring up some controversies, like their tax strategies and U.S. border work.

9. Oracle Financial Services Software

Oracle Financial Services Software, part of Oracle Corporation, is a key player in finance and insurance tech. Set up in 1990 in Mumbai, it’s now a ₹5,115 crore company with over 8,800 people. It all began in 1992 when Citicorp spun off its software biz into Citil, later i-flex Solutions. They made Flexcube, a top banking software.

In 2005, Oracle started buying i-flex and renamed it Oracle Financial Services in 2008. They do a bit of everything like banking, cash management, wealth management, you name it. And they’re part of Oracle’s big family, always growing and changing.

10. Coforge

Coforge Limited, you might know them as NIIT Technologies, is an IT biggie from India with a global footprint. Since 1992, they’ve grown from a small division of NIIT to a billion-dollar company. They’re in Noida, New Jersey, and beyond, with over 21,000 employees. They’ve made big moves, like acquiring a UK insurance company and teaming up with British Airways. In 2012, they even worked with India’s Border Security Force and Tobacco Board.

More recently, they partnered with RuleTek and got a big investment from Baring Private Equity Asia. And they even rebranded from NIIT Technologies to Coforge. In 2021, they got bigger, buying SLK Global Solutions and adding 10,000 more to their team.

Conclusion

Alright, that’ll do it for now. With this information at your disposal, you are better off forming a conclusion of your own about which company deserves to be on this list. And if you are an investor who wants to play safe, then these companies are your best bet.