Top 10 Product-Based Companies in India

India’s vibrant technology ecosystem is now recognized not only for IT services but also as a hub for product-oriented companies that are creating innovative solutions for both the domestic and international markets. These companies are concentrated on creating proprietary products of their own, whether in software, hardware, or both, and spend significantly on innovation, design, and user experience. From enterprise SaaS platforms to AI-based analytics tools and consumer-centric apps, product companies are redefining the art of the possible by developing homegrown technology.

What distinguishes these companies is their focus on research and development, intellectual property innovation, and long-term product thinking. They present exciting opportunities for those who aspire to work on core technologies, drive end-to-end product development, and be part of agile, innovation-led teams.

In this blog, we discuss the top 10 product-based businesses in India that have established a niche by virtue of world-class offerings, strong business models, and a global presence. Whether you are a tech enthusiast, a jobseeker, or an entrepreneur, this list provides useful insight into the firms that are creating India’s future in product innovation.

Overview on the Product-Based Companies in India

India’s technology industry has grown beyond being known as an IT services center. A increasing number of product companies are today developing world-class products, innovation-led products, and contributing heavily to the economy of the country. The companies are no longer just mimicking trends from around the globe—now, they’re creating them. Let’s look at numbers behind the incredible shift:

India now boasts over 160,000 digital-born companies, of which over 600 have revenues of over ₹500 crore (~USD $60 million) every year. These collectively contribute nearly $240 billion to the economy and account for almost 6% of the nation’s GDP. The trend encompasses names such as Zoho, Razorpay, and Swiggy—local firms that are now internationally celebrated tech brands.
The overall Indian tech sector also mirrors this trend. Through FY 2025, the combined revenue of the IT-BPM sector stands at $283 billion, comprising $224 billion in exports and $58 billion in domestic business. Notably, software products now contribute roughly 25% of overall tech exports—a clear indicator of the trend toward proprietary product creation.
While R&D investment, however, continues to be a sensitive area for expansion. While world leaders like Microsoft and Amazon invest more than 10% of their top line on research, Indian IT majors like Infosys, Wipro, and TCS do barely 0.5–1.3%. Nationally too, India invests barely 0.64% of its GDP on R&D, compared with others like China (~2.4%) and South Korea (~4.8%).
On the startup side of things, the figures are just as thrilling. India has identified more than 159,000 startups under the Startup India program, 112 of which are unicorns, and most of them work in the SaaS, fintech, and consumer tech spaces. With more businesses investing in digital technologies and automation, India’s software product industry is expected to expand five times over—up to $100 billion by 2035.

List of Top 10 Product-Based Companies in India

1. Flipkart

Product-Based Company in India - Flipkart

Website: https://www.flipkart.com/

Flipkart, started by Sachin and Binny Bansal in 2007, is India’s top product-based company with the unique achievement of creating its own end-to-end e-commerce ecosystem. In addition to working as a marketplace, Flipkart has built proprietary platforms and logistics infrastructure like Ekart, which facilitates smooth delivery all over the country.

It also provides private-label brands such as MarQ and SmartBuy, and hosts in-house tech for running AI-powered search, local language capabilities, and customized shopping experiences. Through innovations such as Flipkart Plus, Shopsy, and Flipverse, the firm keeps advancing the boundaries of digital commerce without relinquishing full control over important elements of its product and customer experience.

2. Bajaj Auto

Product-Based Company in India - Bajaj Auto

Website: https://www.bajajauto.com/

Bajaj Auto was established in 1945 and is India’s leading producer of motorcycles, scooters, and three-wheelers. It is ranked as the world’s third-largest motorcycle manufacturer and largest three-wheeler manufacturer in the world.

Bajaj has a diversified product portfolio of classic motorcycle brands like Pulsar, Dominar, Avenger, Platina, CT, and the recently launched Freedom 125 CNG, as well as the electric Chetak scooter. In the three-wheeler space, it has the rugged RE Maxima range, the compact GoGo ranges, and the city-smart four-wheeled Qute.

Bajaj Auto has been developing robust momentum towards sustainability and next-generation mobility in recent years. The re-launching of the Chetak as an electric scooter reflects its EV push, while the Freedom 125, the first CNG motorcycle on the planet, reflects its intent for cleaner, alternative fuels.

3. IBM

Website: https://www.ibm.com/in-en

IBM India, being a product-led technology firm, is the hub for creating and delivering IBM’s international set of enterprise offerings from India. With extensive R&D and software labs in Bengaluru and New Delhi, IBM India is helping build AI platforms such as Watsonx, cloud computing (IBM Cloud, Cloud Paks), mainframe infrastructure (IBM Z), blockchain, and enterprise security solutions.

These aren’t services—they are scaleable, proprietary products that are consumed by governments and businesses globally. Besides being the company’s largest delivery center, IBM India is also a product innovation center, especially in automation and hybrid cloud. Its Automation Innovation Centres and developer ecosystems enable product co-creation and prototyping in AI, security, and analytics.

4. HP

Website: https://www.hp.com/in-en/shop/

HP India, a subsidiary of the world’s leading tech company HP Inc., is a top product-oriented technology firm serving consumers and enterprises in the nation. It distributes its diversified range of devices and solutions through its official online store, such as laptops, desktops, printers, accessories, and AI-based computing systems.

Its portfolio of products includes well-known consumer-oriented brands such as Pavilion, Spectre, and OMEN, and business-class PCs like EliteBook and ProDesk. HP is also a leader in printing technology with popular DeskJet, LaserJet, and Smart Tank families, supplemented by a comprehensive set of printing supplies. With technology such as AI-enabled PCs (for example, HP OmniStudio X), HP India still provides high-performance, design-oriented, and durable technology products for lifestyles and work requirements of today.

5. Cisco

Website: https://www.cisco.com/

Cisco is a worldwide well-known product-oriented technology organization with a major presence in India, one of its largest R&D and innovation centers outside of the U.S. Cisco India plays a critical role in developing and designing high-performance networking equipment like switches, routers, wireless products, and enterprise security appliances.

It also plays a part in software-based solutions like Webex collaboration tools and cloud-managed networks through Meraki. With a newly opened manufacturing plant in Tamil Nadu, Cisco has enhanced its local manufacturing capabilities, supporting “Make in India” initiatives.

Cisco’s operations in India combine cutting-edge product engineering with innovation at scale, which allows it to serve international markets while addressing the digital infrastructure and cybersecurity requirements of Indian businesses and government segments.

6. Apple

Website: https://www.apple.com/in/

Apple India, part of the world’s biggest tech company Apple Inc., is one of the world’s most recognized product-oriented companies. It has earned a reputation for its unparalleled integration of design, performance, and innovation and sells a high-end series of hardware and software devices such as iPhone, iPad, Mac, Apple Watch, and AirPods.

Its ecosystem is fueled by proprietary software such as iOS, macOS, and services including iCloud, Apple Music, and the App Store. With increasing manufacturing and retailing presence in India, Apple continues to build its presence while serving individual consumers as well as businesses.

Through its India website and official Apple Stores, the company provides a consistent high-quality experience, marrying product excellence with personalized support and service.

7. Microsoft

Product-Based Company in India - Microsoft

Website: https://www.microsoft.com/en-in

Microsoft India is a product-centric technology company and an integral part of the global ecosystem of Microsoft. It has more than 18,000 employees in cities such as Bengaluru, Hyderabad, Mumbai, and Delhi and serves a pivotal role in engineering, R&D, and product creation.

Microsoft India offers a wide range of products such as Windows, Microsoft 365, Azure, Dynamics 365, Power Platform, Surface devices, and Xbox. Its operations also involve cloud data centers and innovation centers that facilitate national digital transformation efforts.

Microsoft India is reinforcing itself as a product innovation hub further by investing $3 billion in cloud and AI infrastructure recently. It is providing cutting-edge technology and scalable digital solutions to both enterprise and consumer markets.

8. Adobe

Website: https://www.adobe.com/in/

Adobe India, a central pillar of the worldwide product-driven software giant Adobe, Inc., has a rich heritage in engineering, R&D, and product development since its inception in 1997. The company has large development hubs in Noida and Bengaluru, where the staff has grown from a mere handful to more than 7,000 professionals, and owns end-to-end development and improvement of landmark products like Photoshop, InDesign, Acrobat, and Creative Cloud Express, as well as Document and Experience Cloud products.

Adobe India develops mobile and web editions of Acrobat Reader, Photoshop Express, and Adobe Fresco, as well as generative AI products such as Adobe Firefly. It also drives experience innovation in Experience Cloud through solutions such as Adobe Experience Platform and Journey Optimizer. With its contributions to cutting-edge AI services, Adobe India positions itself as a strategic software development and design excellence hub globally.

9. Freshdesk

Product-Based Company in India - Freshworks

Website: https://www.freshworks.com/freshdesk/omni/lp/home/

Freshdesk, built by Freshworks in Chennai in 2010, is an exemplar of a cloud-hosted, product-focused customer support solution that streamlines omni-channel engagement. Intuitive in design, Freshdesk transforms emails, voice calls, chat messages, and social media inquiries into well-organized support tickets.

It runs on Freddy AI, which automates ticket routing, provides response suggestions, and boosts agent efficiency. Other features include self-service portals and knowledge bases, effortless team collaboration, SLA monitoring, and reporting dashboards.

With more than 150 integrations and a focus on scalability, Freshdesk is suited for businesses of all sizes—allowing them to provide consistent, efficient, and personalized customer care across the world. Part of the larger product portfolio of Freshworks, Freshdesk is a best example of how the company aims to create powerful yet easy-to-use SaaS products.

10. HCLTech

Product-Based Company in India - HCLTech

Website: https://www.hcltech.com/

HCLTech (formerly known as HCL Technologies) is a leading product-based technology services company in the global HCL Group. It has over 220,000 professionals across 60 countries and operates hundreds of labs and delivery centers that are engaged in product engineering, digital transformation, cloud, AI, and cybersecurity.

Its HCLSoftware business builds, sells, and supports a portfolio of homegrown enterprise products—like AppScan (application security), BigFix (endpoint management), Domino, Connections, Unica, and DRYiCE automation solutions—constructed from IP assets acquired by IBM.

Supported by extensive engineering knowledge, HCLTech provides end-to-end product lifecycle services, ranging from conception and prototyping through development, testing, and sustainment, positioning it as a giant in enterprise-class software innovation and delivery.

Conclusion

India’s product businesses are no longer merely rising contenders—but world-class innovators who are defining the future of technology. Ranging from creating top-notch SaaS platforms and AI software to revolutionizing fintech, e-commerce, and business solutions, these businesses are a reflection of India’s transformation into a product superpower from its status as a service economy.

The top 10 companies listed here embody not just business success but also a culture of innovation, grit, and influence. As India puts more investment into digital infrastructure, R&D, and startup development, the product-based ecosystem is geared to reach even loftier heights.

FAQs

How do product-based firms differ from service-based firms?

Product-based firms create proprietary products (such as software platforms or consumer apps) and sell these to customers or businesses. Service-based firms, by contrast, offer bespoke solutions or advisory services to other firms.

Why are product-based firms becoming popular in India?

With the growth of startups, digital technology, and world demand for SaaS and AI technology, India product-based firms are attracting capital, talent, and market share. Their scalable business models also enable global expansion.

What are the sought-after skills in product-based firms?

Tight coding proficiency (in programming languages such as Java, Python, JavaScript), problem-solving skill, system design knowledge, product thinking, and experience with DevOps, AI/ML, and cloud platforms are greatly sought after.

What are some of the challenges faced by product-based companies in India?

The major challenges are limited early-stage capital, talent retention, low domestic R&D expenditure, and globally scaling products with consistent quality and customer support.

Are there product-based unicorns in India?

Yes. A few such unicorns as Razorpay, Postman, Zoho (bootstrapped), and BrowserStack are product companies with over $1 billion valuations based purely on homegrown products.

Top 10 Product-Based Companies in India

Overview on the Product-Based Companies in India