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Top 20 Best Research Companies In India 2023

India is home to a thriving research industry, with numerous companies offering a range of research and development services in diverse sectors such as pharmaceuticals, biotechnology, engineering, agriculture, and more. With a highly skilled workforce, cutting-edge technology, and a conducive regulatory environment, India has emerged as a preferred destination for research and development activities for both domestic and international companies.

In 2023, the Indian research industry continues to grow, driven by the country’s rapid economic development and its focus on innovation and technology. The industry has evolved significantly over the years, with a greater emphasis on collaboration, multi-disciplinary approaches, and the application of advanced tools and techniques.

1. Tata Consultancy Services (TCS) 

Research Company

TCS was founded in 1968 and has since become a pioneer in the Indian IT industry. It is known for its expertise in a wide range of areas, including application development, digital services, consulting, infrastructure management, and engineering services.

TCS has a strong focus on innovation, investing heavily in research and development to stay ahead of the curve. The company has a number of specialized research labs, including the TCS Research and Innovation Lab in Bengaluru, which focuses on cutting-edge technologies like AI, robotics, and blockchain.

2. Infosys Limited

Infosys Limited is an Indian multinational IT service and consulting company headquartered in Bangalore, Karnataka, India. It was founded in 1981 by a group of engineers, including N.R. Narayana Murthy.

Infosys offers a wide range of services, including software development, maintenance, and consulting, as well as infrastructure management, engineering services, and business process outsourcing. The company has a strong focus on digital transformation and has developed expertise in areas like cloud computing, artificial intelligence, and automation.

Infosys has a diverse client base across industries such as banking and financial services, healthcare, retail, and manufacturing. 

3. Wipro Limited

Wipro Limited is an Indian multinational corporation that offers IT services, consulting, and business process services. The company is headquartered in Bengaluru, Karnataka, India, and was founded in 1945 by M.H. Hasham Premji as Western India Vegetable Products Limited. It later diversified into the IT services industry in the 1990s.

Wipro offers a wide range of services including digital strategy, business consulting, application development, and infrastructure management, as well as engineering and research and development services. The company has a workforce of over 200,000 employees, with a significant portion of its employees located outside of India.

4. HCL Technologies Limited

HCL Technologies Limited is an Indian multinational IT service and consulting company headquartered in Noida, Uttar Pradesh, India. The company was founded in 1976 by Shiv Nadar and has since become one of the leading IT services companies in India.

HCL offers a wide range of services including software development, engineering and research and development, infrastructure management, and digital process operations. 

HCL has a global presence with operations in over 50 countries, serving clients across various industries including banking and financial services, healthcare, energy, and manufacturing. The company has a workforce of over 180,000 employees, with a significant portion of its employees located outside of India.

5. Tech Mahindra Limited

Tech Mahindra Limited is an Indian multinational IT service and consulting company headquartered in Pune, Maharashtra, India. The company was founded in 1986 as a joint venture between Mahindra & Mahindra and British Telecom.

Tech Mahindra offers a wide range of services including software development, infrastructure management, consulting, and engineering services. 

Tech Mahindra has a global presence with operations in over 90 countries, serving clients across various industries including banking and financial services, healthcare, energy, and manufacturing. The company has a workforce of over 139,000 employees, with a significant portion of its employees located outside of India.

6. Cognizant Technology Solutions Corporation

Research Company

Cognizant Technology Solutions Corporation is a multinational IT services and consulting company headquartered in Teaneck, New Jersey, USA, with a strong presence in India. The company was founded in 1994 as a technology development arm of Dun & Bradstreet and has since become a leading player in the IT services industry.

Cognizant offers a wide range of services including digital strategy, business consulting, application development, and infrastructure management, as well as engineering and research and development services. 

Cognizant has a global presence with operations in over 40 countries, serving clients across various industries including banking and financial services, healthcare, energy, and manufacturing. The company has a workforce of over 300,000 employees, with a significant portion of its employees located in India.

7. Accenture Solutions Private Limited

Accenture Solutions Private Limited is a multinational IT services and consulting company headquartered in Dublin, Ireland, with a significant presence in India. The company was founded in 1989 as Andersen Consulting and has since become one of the largest consulting and technology services firms in the world.

Accenture offers a wide range of services including digital strategy, business consulting, application development, and infrastructure management, as well as engineering and research and development services. 

Accenture has a global presence with operations in over 120 countries, serving clients across various industries including banking and financial services, healthcare, energy, and manufacturing. The company has a workforce of over 570,000 employees, with a significant portion of its employees located in India.

8. Capgemini Technology Services India Limited

Capgemini Technology Services India Limited is an IT services and consulting company in Paris, France, with a significant presence in India. The company was founded in 1967 and has since become one of the largest consulting and technology services firms in the world.

Capgemini offers a wide range of services including digital strategy, business consulting, application development, and infrastructure management, as well as engineering and research and development services.

Capgemini has a global presence with operations in over 50 countries, serving clients across various industries including banking and financial services, healthcare, energy, and manufacturing. The company has a workforce of over 270,000 employees, with a significant portion of its employees located in India.

9. IBM India Private Limited

IBM India Private Limited is a subsidiary of IBM Corporation, a multinational technology company headquartered in Armonk, New York, USA. IBM offers a wide range of services including cloud computing, artificial intelligence, blockchain, and cybersecurity, as well as consulting and technology services. The company has a strong focus on innovation and has made significant investments in emerging technologies.

IBM has a global presence with operations in over 170 countries, serving clients across various industries including banking and financial services, healthcare, energy, and manufacturing. The company has a workforce of over 380,000 employees worldwide, with a significant portion of its employees located in India.

10. Larsen & Toubro Infotech Limited

Research Company

Larsen & Toubro Infotech Limited (LTI) is a subsidiary of Larsen & Toubro, a leading engineering and construction conglomerate in India.

LTI offers a range of services, including application development and maintenance, infrastructure management, testing, analytics, and digital solutions. The company has a strong focus on innovation and has made significant investments in emerging technologies such as artificial intelligence, blockchain, and cloud computing.

LTI has a global presence with operations in over 30 countries, serving clients across various industries, including banking and financial services, insurance, healthcare, energy, and retail. The company has a workforce of over 35,000 employees, with a significant portion of its employees located in India.

11. Mindtree Limited

Mindtree Limited is a global information technology consulting and implementation company headquartered in Bengaluru, India. Mindtree was founded in 1999 by a group of ten IT professionals, and it has since grown to become a significant player in the IT industry.

One of the unique aspects of Mindtree is its focus on customer-centricity. The company places a strong emphasis on understanding the needs of its clients and delivering customized solutions that address their specific business challenges. Mindtree has a global presence with offices in several countries, and it serves clients in various industries, including banking and finance, healthcare, retail, and manufacturing.

In recent years, Mindtree has been recognized for its excellent performance in the IT industry. The company has won several awards, including the Best Innovation in Learning Award at the World HRD Congress, the Best Agile Transformation Award at the DevOps Industry Awards, and the Best CSR Practice Award at the National CSR Summit.

12. Mphasis Limited

Mphasis Limited is an Indian IT services company that provides application development, application maintenance, business process outsourcing, infrastructure management, and digital services.

One of the unique aspects of Mphasis is its focus on providing digital services that help clients transform their businesses. The company has developed several proprietary platforms that enable clients to leverage the power of automation, artificial intelligence, and machine learning. Mphasis serves clients in various industries, including banking and finance, healthcare, retail, and manufacturing.

In recent years, Mphasis has been recognized for its excellent performance in the IT industry. The company has won several awards, including the Best IT Company of the Year Award at the National IT Excellence Awards, the Best Digital Transformation Partner Award at the CIO Choice Awards, and the Best Software Testing Company Award at the Software Testing Awards.

13. Oracle Financial Services Software Limited:

Oracle Financial Services Software Limited is a subsidiary of Oracle Corporation that provides software solutions for the banking and financial services industry. The company gives a wide range of products and services, including core banking, digital banking, risk management, and compliance. Oracle Financial Services Software Limited was founded in 1990 and has since grown to become a significant player in the banking and financial services industry.

One of the unique aspects of Oracle Financial Services Software Limited is its focus on providing software solutions that help banks and financial institutions improve their efficiency and reduce costs. The company has developed several proprietary platforms that enable clients to streamline their operations, improve their risk management capabilities, and enhance their customer experience.

In recent years, Oracle Financial Services Software Limited has been recognized for its excellent performance in the banking and financial services industry. The company has won several awards, including the Best Core Banking System Award at the Asian Banker Awards, the Best Treasury Management System Award at the Global Finance Awards, and the Best Risk Management Solution Award at the Banking Technology Awards.

14. DXC Technology India Private Limited:

Research Company

DXC Technology India Private Limited is a subsidiary of DXC Technology Company that provides IT consulting and implementation services. DXC Technology India Private Limited was founded in 2017 and has since grown to become a significant player in the IT industry.

One of the unique aspects of DXC Technology India Private Limited is its focus on providing end-to-end solutions that help clients transform their businesses. The company has developed several proprietary platforms that enable clients to leverage the power of automation, artificial intelligence, and

15. LTI – Larsen & Toubro Infotech:

LTI, or Larsen & Toubro Infotech, is a global technology consulting and digital solutions company based in Mumbai, India. The company gives a wide range of services, including digital transformation, data analytics, application development and maintenance, cloud computing, and enterprise integration. LTI was founded in 1997.

One of the unique aspects of LTI is its focus on innovation and digital transformation. The company has developed several proprietary platforms and solutions that help clients improve their efficiency, enhance their customer experience, and achieve their business objectives. LTI serves clients in various industries, including banking and finance, healthcare, retail, and manufacturing.

In recent years, LTI has been recognized for its excellent performance in the IT industry. The company has won several awards, including the Best Digital Transformation Partner Award at the CIO Choice Awards, the Best Use of Technology in Financial Services Award at the National Technology Awards, and the Best IT Employer Award at the World HRD Congress.

16. NTT Data Services India Private Limited:

NTT Data Services India Private Limited is a subsidiary of NTT Data Corporation, a global IT services company based in Japan. The company provides a wide range of services, including application development and maintenance, cloud computing, data analytics, and digital transformation. NTT Data Services India Private Limited was founded in 2006 and has since grown to become a significant player in the IT industry.

One of the unique aspects of NTT Data Services India Private Limited is its focus on providing end-to-end solutions that help clients achieve their business objectives. The company has developed several proprietary platforms and solutions that enable clients to leverage the power of automation, artificial intelligence, and machine learning. NTT Data Services India Private Limited serves clients in various industries, including healthcare, banking and finance, and manufacturing.

In recent years, NTT Data Services India Private Limited has been recognized for its excellent performance in the IT industry. The company has won several awards, including the Best IT Services Provider Award at the CIO Choice Awards, the Best in Corporate Social Responsibility Award at the World HRD Congress, and the Best IT Employer Award at the National HRD Network.

17. Persistent Systems Limited:

Persistent Systems Limited is an Indian IT services company that provides software product development, digital transformation, and data analytics services. 

One of the unique aspects of Persistent Systems Limited is its focus on software product development. The company has developed several proprietary software products that enable clients to improve their efficiency, enhance their customer experience, and achieve their business objectives. Persistent Systems Limited serves clients in various industries, including healthcare, banking and finance, and manufacturing.

In recent years, Persistent Systems Limited has been recognized for its excellent performance in the IT industry. The company has won several awards, including the Best IT Services Provider Award at the Indian Digital Awards, the Best IT Employer Award at the Dataquest IT Industry Awards, and the Best Software Product Award at the NASSCOM Engineering Summit.

18. Hexaware Technologies Limited:

Research Company

Hexaware Technologies Limited is an Indian IT services company that provides application development and maintenance, digital transformation, and data analytics services. 

One of the unique aspects of Hexaware Technologies Limited is its focus on providing end-to-end solutions that help clients achieve their business objectives. The company has developed several proprietary platforms and solutions that enable clients to leverage the power of automation, artificial intelligence, and machine learning. Hexaware Technologies Limited serves clients in various industries, including banking and finance, healthcare, and retail.

In recent years, Hexaware Technologies Limited has been recognized for its excellent performance in the IT industry. The company has won several awards, including the Best IT Services Provider Award at the CIO Choice Awards, the Best Digital Transformation Partner Award at the Asia Pacific ICT Awards, and the Best IT Employer Award at the Asia Pacific HRM Congress.

19. Zensar Technologies Limited:

Zensar Technologies Limited is an Indian IT services company that provides digital transformation, application development and maintenance, and data analytics services. The company has a global presence with offices in several countries, including the United States, the United Kingdom, and India. Zensar Technologies Limited was founded in 1991 and has since grown to become a significant player in the IT industry.

One of the unique aspects of Zensar Technologies Limited is its focus on innovation and digital transformation. The company has developed several proprietary platforms and solutions that help clients improve their efficiency, enhance their customer experience, and achieve their business objectives. Zensar Technologies Limited serves clients in various industries, including healthcare, banking and finance, and manufacturing.

In recent years, Zensar Technologies Limited has been recognized for its excellent performance in the IT industry. The company has won several awards, including the Best IT Services Provider Award at the CIO Choice Awards, the Best IT Employer Award at the Asia Pacific HRM Congress, and the Best Digital Transformation Partner Award at the Frost & Sullivan India ICT Awards.

20. WNS Global Services Private Limited

WNS Global Services Private Limited is a leading business process management (BPM) company based in Mumbai, India. The company provides a wide range of services, including finance and accounting, customer care, procurement, legal and research, analytics and insights, and digital transformation. WNS was founded in 1996 and has since grown to become a significant player in the BPM industry.

One of the unique aspects of WNS is its focus on delivering value to its clients. The company has developed several proprietary platforms and solutions that help clients reduce their costs, improve their efficiency, and enhance their customer experience. WNS serves clients in various industries, including banking and finance, healthcare, travel and tourism, and retail.

In conclusion, the software and IT industry in India has been thriving and continues to grow at a rapid pace. The top 20 companies in this space have demonstrated exceptional skill and expertise in delivering innovative solutions to their clients, both locally and globally. Their focus on technological advancements and dedication to customer satisfaction has helped them establish a strong reputation in the industry.

The companies on this list offer a diverse range of services, including software development, IT consulting, cybersecurity, cloud computing, and more. With their exceptional talent and dedication, these companies have not only contributed to the growth of the Indian economy but have also made significant contributions to the global technology landscape.

As we move into 2023, these top 20 software and IT services companies in India are poised to continue their remarkable growth and deliver cutting-edge solutions to their clients. Their ability to adapt to changing technology trends and their focus on innovation and excellence make them leaders in the industry, and we can expect them to continue to make significant contributions in the years to come.

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