Today India is home to some of the finest IT services and consulting companies in the world. The software companies in India are reputed across the globe for their efficient IT and business-related solutions.
IT and ITeS industry in India
With the huge success of the software companies in India, the Indian software industry in turn has become successful in making a mark in the global arena. This industry has been instrumental in driving the economy of the nation on to a rapid growth curve and employs around four million people. India is the leading sourcing destination across the world, accounting for approximately 55 per cent market share of the US$ 185-190 billion global services sourcing business in 2017-18. Indian IT & ITeS companies have set up over 1,000 global delivery centres in about 80 countries across the world.
India’s IT & ITeS industry revenues touched to US$ 181 billion in 2018-19. Exports from the industry increased to US$ 137 billion in FY19 while domestic revenues (including hardware) advanced to US$ 44 billion.
The computer software and hardware sector in India attracted cumulative Foreign Direct Investment (FDI) inflows worth US$ 37.23 billion between April 2000 and March 2019 and ranks second in inflow of FDI, as per data released by the Department for Promotion of Industry and Internal Trade (DPIIT).
The export of software has also gone up, which has been instrumental in the huge success of the Indian software companies as well as the industry. In fact, software export from India accounts for more than 65% of the total software revenue. The domestic software market largely depends upon sale of software packages and products, which constitute major part of revenues. Products account for almost 40% of the domestic market.
On the other hand, more than 80% of revenue from software exports comes from software services like custom software development and consultancy services etc. Indian IT/ ITeS exports is likely to record 8 to 10% growth during the current fiscal year.
The various services offered by IT companies in India are:
- Custom Business solutions
- Collaborative Content Management
- Internet Marketing
- Web Branding Services
- Database Migration services
- Customization Services
- Application Development
- ERP solutions
- Iphone Apps development
- Collaborative Commerce
- Programming Services
- Quality assurance and testing services
- Multimedia offering
IT Business Sectors
Most of the software companies in India are into varied types of business. There can be several types of business in the IT sector:
- Infrastructure Software: These include OS, middleware and databases.
- Enterprise Software: These automate business process in diverse verticals like finance, sales and marketing, production and logistics.
- Security Software
- Industry-specific Software
- Contract Programming
The top 10 IT companies in India are as follows:
1. Tata Consultancy Services
TCS or Tata Consultancy Services is one of the operative subsidiaries of the Tata Group. It is the largest information technology company not only in India but Asia. Spread across 46 countries in the globe this software company was established way back in 1978. Tata Consultancy Services (TCS) got the third position as the most-valued IT services brand globally in 2018-19. It recorded net sales of Rs 123,170 cr in 2018-19. It recorded flat profit at Rs 8,131 crore for the quarter ended June 2019.
2. Infosys Technologies Limited
Infosys Technologies Limited was established on July 2, 1981 by seven professionals – Narayana Murthy, Kris Gopalakrishnan, Nandan Nilekani, Nagavara Ramarao, SD Shibulal, K Dinesh and NS Raghavan. Infosys in a very short span of time has managed to make a mark for itself as a major software company not only in India but across the globe. It has over 50 offices across different countries of the world. Its net sales were Rs 73,107 cr in the financial year 2018-19.
3. Wipro Technologies
Wipro is among the largest software companies in India with its headquarters in Bengaluru. Listed on the New York Stock Exchange, Wipro Technologies was established in 1980. Wipro is one of the most valuable brands in India. Wipro is actively involved in Application Development and Maintenance, Product Engineering, Business Process Outsourcing Technology Infrastructure etc. It recorded net sales of Rs 48,123 cr in the financial year 2018-19.
4. HCL Technologies
HCL Technologies is the IT services wing of HCL. Founded on November 12, 1991, HCL Technologies is head quartered in Noida. Counted amongst the leading software companies in India, this company generated 15.30% year-on-year rise in profit at Rs 2,568 crore for the quarter ended March 31, 2019. Its net sales for 2018-19 were Rs 26,012 cr.
5. Redington (India) Ltd
Redington (India) Ltd is an India-based company, which has made a good name as a software company. The company is a well-known name in the information technology product distribution business, supply chain solutions . Redington (India) Ltd and its subsidiaries have been successfully operating in India along with the Middle East, Turkey, Africa and South Asia countries.
The main segment of the company is Distribution and Services. The company’s information technology products include Personal Computing & Printing; Commercial, Enterprise & Infrastructure; Cloud Services, and Software & Security. In addition, the Company offers Consumer and Digital Lifestyle Products. Redington (India) Ltd has been growing rapidly. It has approximately 90 sales locations, 100 onward service and overall 280 partners.
6. Tech Mahindra
At the fourth spot, we have Tech Mahindra, which started as a technology outsourcing joint venture between BT Group plc of UK and the Mahindra Group in 1986. Tech Mahindra has grown by leaps and bounds since its inception. After acquiring scandal-hit Satyam Computer Services in 2008-09, BT group exited the company and Satyam Computer Services was merged with the company to form present day Tech Mahindra. Moreover, it has been awarded Brand of the Decade 2019 award by BARC Asia. Its net sales in the financial year 2018-19 were Rs 27,219.60 cr.
7. L&T Infotech
L&T Infotech is one of the best software companies in India. It is a fully owned subsidiary of Larsen & Toubro and was established in 1997. L&T Infotech over the years has made a remarkable place for itself in the global IT world mostly because of its business to IT connect solutions. Larsen & Toubro Infotech Limited (L&T Infotech) has a global presence, helping more than 300 clients succeeded in a converging world. L&T Infotech has made its mark all over the world with 23 software development centres and 44 sales offices. In 2018-19, its net sales were Rs 8,907.20 cr.
8. MphasiS Ltd
MphasiS was founded in India in the year 2000, at the cusp of the century. Based in Bengaluru, MphasiS is among the largest IT services and consulting companies in India. Spread across 14 countries, MphasiS earned whopping revenue of 3434.02 cr in the financial year. Additionally, it declared 11.9% rise in consolidated net profit to Rs 266.14 cr in the March 2019 quarter.
9. Mindtree Ltd
Mindtree Limited is an Indian multinational information technology and outsourcing company. This company was founded in 1999. The company works on application Development and Maintenance, Data Analytics, Digital Services, Enterprise Application Integration and Business Process Management, Engineering R&D, Enterprise Application Services, Testing, and Infrastructure Management Services. It had net sales of Rs 7021.50 cr in 2018-19. L&T has recently acquired 60% stake in Mindtree.
10. Oracle Financial Services Software Ltd (OFSSL)
Oracle Financial Services Software Ltd is an IT company known for being a solution provider to the banking industry. The company is famous for its products business (comprising product licensing, consulting and support). This is company’s most important business segment. OFSSL has established its name in the world through its sales and marketing network. Its net sales were Rs 3698.24 cr in the financial year 2018-19.