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Top 20 Service-Based Companies in India [To Work, Invest]

Introduction

When young aspirants step out and try to look for opportunities in the job market, they are likely to be overwhelmed by the plethora of options available. There is massive scope for educated youngsters to seek new opportunities in service-based businesses.

Service-based companies are those that do not provide tangible goods but offer services to customers. These services may be of a wide variety, such as IT, design, accounting, consulting, marketing, software development, and many more.

In this blog, we will list some of the best service-based companies in India that are ideal for working and safe to invest in.

Overview of the Service-Based Industry in India

Service-based companies are much smaller and concentrated in nature and have several wings working in coherence with one another to provide specialised services.

The tech-driven world has opened up the scope for many new positions in the IT sector. Service-based companies cater to the client’s requirements by providing suitable solutions. The services are offered through amenities, skills, and expertise. These not only provide a healthy environment to work in and are safe for stakeholders to invest in.

India is home to many service-based companies, and it wouldn’t be difficult to list the top 50 service-based companies in India. However, this article discusses 20 service-based companies in India that top the list. Read on to find out.

Criteria for Selection

The primary motive of service-based companies is to ensure client requirements are met. Here are some of the criteria based on which you should choose your service-based company:

  • A good service-based company relies solely on the requirements of the clients. It will only render service if the need for it arises.
  • A service-based company utilises its strength, provides follow-up services, and delivers the best results within a stipulated time.
  • The company you choose should also be able to maintain the cut-throat market competition while not compromising the quality of the service being provided.
  • The company should be able to take up challenges. It is always advisable to go for a flexible company that can adapt to the changes in customer demands and the latest market trends.

The following section enlists the top 20 service-based businesses in India.

Top 20 Service-Based Companies in India

Here’s a look at 20 top service-based company examples in India that are revolutionising the market:

  1. Accenture: Headquartered in Ireland, this company provides consulting and strategy services, security operations, and other technology operations in nearly 120 countries.

Accenture has been on the Forbes Global 2000 list for 18 consecutive years, which affirms its quality of service. It has eleven offices in India. The company’s revenue trends also suggest that it is profitable to invest in an Accenture stock.

  1. Capgemini: Most young minds pursuing BTech from renowned institutions tend to secure a position in Capgemini through their college placement drive. If you join as a fresher, you will likely witness progress in your career by leaps and bounds.
  2. Cognizant: Cognizant Technology Solutions Corporation has been awarded ISG’s Star of Excellence award for its exemplary contribution to the service-based business sector.

Cognizant has many opportunities to offer as the company employs the best talent and puts them to work. Investors can also consider adding Cognizant stock to their portfolio. However, that entirely depends on the investor’s goals, risk tolerance, and other factors.

  1. Deloitte: Deloitte is an MNC that acquired the title of one of the top 5 global brands by Brand Finance Global 500 in 2020.

Deloitte extends its services to finance, audit, risk advisory, and tax advisory. If you have a background in finance, Deloitte can be the best service-oriented business where you can establish a career. The company’s presence can be marked in 10 cities throughout India.

  1. HCL Technologies: As of today, HCL Technologies is a leading name in IT and consulting, making it a top-notch service-based business.

HCL has offices in major Indian cities like Hyderabad, Bangalore, Pune, Vadodara, Mumbai, and Jaipur. Experienced investors can also consider investing in HCL Technologies stocks.

  1. Infosys: Infosys was the first Indian company listed on NASDAQ for its commendable contribution to IT and consultancy services.

Infosys has 39 offices all across India, and the headquarters is in Bangalore. The company aims to enhance productivity and improve business agility through AI and ML technologies. An MS in Full Stack AI and ML can help you secure a position in Infosys.

  1. Larsen & Toubro Infotech: Larsen and Toubro is a company that provides technology consulting and other digital solutions. Its headquarters are in Mumbai, and its offices are in Kolkata, Hyderabad, Delhi, Pune, Bangalore, Chennai, Chandigarh, and Nagpur.

Larsen & Toubro Infotech generated revenue of 22.25 billion USD in the year 2022. Investors should conduct thorough research and analyse the risks before purchasing a Larsen & Toubro Infotech stock.

  1. Mindtree: Mindtree aids its clients in digital transformation and provides technology services right from initiating ideas to the final execution of the plan. Since many departments are involved in the processes, aspirants can explore many opportunities.

Mindtree was awarded the Silver Shield Award for Excellence in Integrated Reporting by ICAI and the 2021 “Best in Biz” award in North America. With a reputation like this, Mindtree stands to be a safe place to invest in.

  1. Tata Consultancy Services (TCS): TCS is also one of the top service-based companies in the world.

TCS offers services related to cloud infrastructure, AI, automation, industrial services, and many more. The company has also been identified as a “Global Top Employer” for seven years in a row by Top Employers Institute, which speaks volumes about why it is a great place to work.

  1. Tech Mahindra: Tech Mahindra entered the list of the best Indian companies to work for in 2020. With its offices in top cities like Bhubaneswar, Chennai, Bangalore, Kolkata, Hyderabad, etc., Tech Mahindra is also a top recruiter of skilled IT workforce.
  2. Wipro: Many institutions like the Bombay Stock Exchange and International Financial Corporation have identified Wipro Ltd. in the top “leadership” category in governance practices.

The company offers various services such as computer security, digital transformation, cloud computing, AI, data analytics, and so on. Therefore, you can secure a placement in Wipro if you are skilled in any of these domains.

  1. Birlasoft: If you look forward to working in a company specialising in financial services, banking, media, healthcare, and media, you can count on Birlasoft.

The company has been providing IT and consulting services since 1990. Its headquarters is in Pune, and its offices are in Noida, Hyderabad, Chennai, and Bangalore.

  1. DXC Technology: DXC Technology is an IT service-based company incorporating technological innovation to streamline processes.

The company employs highly skilled tech professionals who can help clients with their core challenges and devise ways for businesses to optimise market opportunities.

  1. Genpact: Genpact provides digital as well as business services. Individuals can either work with technologies like data analytics, cloud computing, AI and ML, and automation or services like customer care, finance, accounting, supply chain management, risk and compliance, and so on. The headquarters of Genpact is in NYC.
  2. Hexaware Technologies: Hexaware Technologies has its headquarters in Navi Mumbai. This IT management services company won the ITSMA Marketing Excellence Awards and ISG Paragon Awards in the category “Imagination” in 2018.
  3. Mphasis: This MNC is also among India’s best service-based companies. Mphasis offers outsourcing services, provides architectural guidance, and aims to improve infrastructure technology. It is based in Bangalore.
  4. NIIT Technologies: NIIT Technologies is an IT solutions organisation that helps in application development, app management, and cloud computing for organisations that work in domains like financial services, travel, insurance, logistics, transportation, manufacturing, etc. The company advises its clients on how to leverage the use of technology and make the most out of IT investments.
  5. Persistent Systems: Persistent Systems is an IT services company that will help your company deal with digital challenges and turn them into business success. The company offers services like data analytics, IT security, automation, cloud computing, software product engineering, etc. The company is also listed on NSE and BSE.
  6. Syntel: The primary task of this service-oriented business also remains the same. It allows the clients to use advanced technologies and ensure optimal use for the most benefits.
  7. Zensar Technologies: Zensar Technologies brings together the best skills, capabilities, and innovation. The company ensures its clients can survive constant change while remaining equipped with the latest technologies.

Businesses’ expenditure on IT services is ever-increasing. If you have a solid educational foundation in the relevant discipline backed by a specialisation course like an online Master of Science in Computer Science from LJMU, you can carve a prosperous career in any of the top service-based companies in India.

Check out our free courses to get an edge over the competition.

Reasons to Work for a Service-Based Company in India

If you are wondering why you should switch to a service-based company, listed below are a few reasons that will answer your query:

  • There is ample scope to showcase your creativity. Different clients have different requirements; it is up to the service-based company to tailor something that will meet the client’s requirements.
  • Companies are constantly using technologies like cloud computing, AI, and automation. This calls for more service-based companies and skilled professionals who can cater to the client’s needs.
  • There is ample scope for learning.

Reasons to Invest in Service-Based Companies in India

The first reason service-based companies in India are safe to invest in is that it is a booming sector. Also, the revenue earned from IT services in India is expected to result in a market volume of 28.64 billion USD by 2027, thereby showing a compounded annual growth rate of 11.02% from 2023 to 2027.

Service-based companies are less prone to failure since they curate the services based on the client’s requirements.

Challenges and Future of the Service-Based Industry in India

Despite the wide range of advantages brought about by IT services to businesses, there are some challenges associated with service-based companies in India. For the best results, employing skilled individuals in a specific task is ideal. However, the availability of a skilled workforce can be a challenge.

Service-based companies may also find it challenging to scale up almost instantly. Scaling up would require the availability of enough employees who will possess the necessary skills and will be able to execute the task properly.

However, it is evident from the trends that there will be increased scope for job opportunities in service-based companies. In modern times, AI and ML are taking the market by storm. Businesses are also transitioning to a more automated work mode so that humans can employ their skills in other fruitful work. Therefore, service-based companies will employ a skilled workforce and work towards catering to the varied requirements of the clients.

Conclusion

Since the future of service-based companies seems bright enough, learners can start enrolling in specialised courses that will help them gain expertise in a specific niche and increase their chances of employability. You can either learn a programming language like Python or build your expertise in data science with an Executive PG Programme in Data Science from IIIT Bangalore.

FAQs

1. How is a service-based company different from a product-based company?

While a product-based company generates revenue by selling tangible products, a service-based company generates revenue by offering services like web development, consultancy, etc.

2. Is it profitable to work in a service-based company?

Working in a service-based company is rewarding in many ways. Not only are the packages high, but working in these service-based companies helps individuals unleash their creativity and learn new things.

3. Which is the largest service-based company?

Although this is difficult to answer, Accenture is still hailed as the largest service-based company due to its brand value.

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