India thrives as a diverse business hub, hosting tech giants in Bengaluru and financial powerhouses in Mumbai, among others. This corporate dynamism deeply influences the real estate market. As companies expand, the demand for commercial spaces and office complexes surges, driving significant real estate development. Conversely, prime real estate locations attract businesses, further fostering economic growth. This intricate relationship underscores India’s vibrant business landscape and its profound impact on the ever-evolving dynamics of the real estate sector.
See also: Top energy companies in India
Business landscape in India
India’s business landscape is a tapestry of diverse industries and sectors. It’s renowned for its thriving technology sectors, with cities like Bengaluru known as global IT hubs. Additionally, India excels in pharmaceuticals, producing a significant portion of the world’s generic drugs. The financial services sector, centred in Mumbai, is a vital contributor to the economy. Manufacturing, agriculture and renewable energy industries also play pivotal roles, making India a multifaceted business hub with opportunities across various domains.
List of top service sector companies in India
Accenture
Industry: Information Technology (IT), Data Analytics, AI, Robotics, IoT
Company Type: MNC
Location: Bannerghatta Road, Bangalore / Bengaluru Karnataka-560029
Founded in: 1989
Accenture is a global professional services firm specialising in consulting, technology, and outsourcing. It offers a range of services, including strategy, digital transformation, and cybersecurity solutions, to clients across various industries. Accenture has undertaken major projects involving cloud migration, AI implementation, and business process optimisation. It also provides software products like the Accenture Cloud Platform to facilitate digital innovation.
Infosys
Industry: Information Technology (IT), Data Analytics, AI, Robotics, IoT
Company Type: India’s Top 500
Location: Hosur Road, Bangalore / Bengaluru Karnataka-560100
Founded in: 1981
Infosys is a leading Indian Multinational IT services and consulting company. It offers a wide array of services, including software development, IT consulting, and business process outsourcing. Infosys has worked on major projects in digital transformation, data analytics, and cloud computing. The company also develops software products like Infosys Nia, an AI and automation platform.
IBM
Industry: Consulting, Information Technology (IT), Data Analytics, AI, Robotics, IoT
Company Type: MNC
Location: Bannerghatta Road, Bangalore / Bengaluru Karnataka-560029
Founded in:1911
Cloud computing, artificial intelligence, and cybersecurity solutions are just a few of the many services offered by IBM, a sizable international technology and consulting firm. IBM has begun to make large expenditures in quantum computing, blockchain applications, and hybrid cloud integration. Two of its many offerings, which serve customers across numerous industries, are the IBM Watson AI platform and IBM Cloud services.
Tata Consultancy Services (TCS)
Industry: Information Technology (IT), Data Analytics, AI, Robotics, IoT
Company Type: India’s Top 500
Location: Raveline Street, Fort Mumbai Maharashtra-400001
Founded in:1968
Tata Consultancy Services (TCS), a major global provider of IT services and consulting, is based in India. It offers digital solutions, business consultancy, and IT services to customers all around the world. Significant initiatives in automation, data analytics, and digital transformation have been completed by TCS. It provides services, including the cloud-based digital learning and assessment platform TCS iON and the software engineering platform TCS MasterCraft.
Deloitte
Industry: Consulting
Company Type: MNC
Location: Elphinstone Road (W), Mumbai Maharashtra-400013
Founded in: 1845
Deloitte is a global professional services firm offering a wide range of services, including auditing, consulting, tax advisory, and risk management. Deloitte has engaged in major projects related to mergers and acquisitions, cybersecurity, and digital transformation for clients across various industries. Its proprietary products and tools include Deloitte Risk Explorer and ConvergeHEALTH, focused on healthcare analytics.
Wipro
Industry: Information Technology (IT), Data Analytics, AI, Robotics, IoT
Company Type: India’s Top 500
Location: Sarjapur Road, Bangalore / Bengaluru Karnataka-560035
Founded in: 1945
Wipro is a prominent Indian multinational IT services and consulting company. It delivers services such as IT consulting, software development, and business process outsourcing. Wipro has worked on significant projects involving cloud migration, AI implementation, and digital transformation for global clients. Its products include Wipro Holmes, an AI and automation platform, and VirtuWise for network management.
NTT Data
Industry: Information Technology (IT), Data Analytics, AI, Robotics, IoT
Company Type: MNC
Location: Bandra East, Mumbai Maharashtra -400051
Founded in: 1967
Japanese-based NTT Data is a multinational provider of IT services. It provides a wide range of services, such as consultancy, cloud computing, and system integration. Major projects in financial services, healthcare IT, and digital transformation have been taken on by NTT Data. NTT Data Services Platform and iQuate for software asset management are some of its products.
LTI Mindtree
Industry:Â Information Technology (IT), Data Analytics, AI, Robotics, IoT
Company Type: India’s Top 500
Location: Ballard Estate, Mumbai Maharashtra- 400001
Founded in: 1996
A division of Larsen & Toubro (LTI), LTI Mindtree is a leading provider of digital consulting and IT services globally. It focuses on consulting services, digital transformation, and IT solutions.LTI Mindtree has worked on application development, data analytics, and cloud computing projects for a variety of sectors. For better customer experiences and operational effectiveness, it offers digital products and platforms.
Redington
Industry:Â Information Technology (IT), Data Analytics, AI, Robotics, IoT
Company Type: India’s Top 500
Location:Â Puzhuthivakkam, Chennai Tamil Nadu-600091
Founded in: 1993
Redington is a global supply chain solutions company that specialises in technology distribution and supply chain management. It offers distribution services for IT products and electronic goods. While specific projects may vary, Redington plays a vital role in distributing technology products from leading manufacturers to businesses and consumers worldwide.
Bharti Airtel
Industry: Telecommunication, Mobile
Company Type: India’s Top 500
Location: Phase IV, Gurgaon / Gurugram Haryana -122001
Founding date: 1995
Bharti Airtel is one of India’s leading telecommunications companies, offering a range of services such as mobile and broadband connectivity, digital TV, and enterprise solutions. The company has undertaken major projects to expand its 4G and 5G networks, improve digital infrastructure, and enhance customer experience. They also offer products like Airtel Xstream and Airtel Thanks app for customers.
HCL Technologies
Industry: ITES – BPO , KPO , LPO , MT, Information Technology (IT) , Data Analytics , AI , Robotics , IOT
Company Type: India’s Top 500
Location: Sector-126, Noida Uttar Pradesh , 201303
Founded in:1976
HCL Technologies, operating as HCLTech, is an Indian multinational IT services and consulting company headquartered in Noida. Founded by Shiv Nadar, it transitioned into the software services sector in 1991, expanding its focus from hardware. Pioneering modern computing, HCL introduced personal computers based on an 8-bit microprocessor in 1978. Today, the HCL enterprise spans diverse sectors, including technology, healthcare, and talent management, encompassing three distinct companies: HCL Infosystems, HCLTech, and HCL Healthcare.
Mphasis
Industry: Information Technology (IT) , Data Analytics , AI , Robotics , IOT
Company Type: India’s Top 500
Location: Mahadevapura, Bengaluru Karnataka , 560048
Founded in:1998
Mphasis is a leading provider of Information Technology (IT) services, specialising in a wide range of offerings such as business process outsourcing, infrastructure technology, and application services. The company’s application services encompass application development, maintenance, and support. Mphasis is known for its expertise in delivering tailored solutions, including Applied Technology, Cloud services, Migration & Technology, and Business Process Outsourcing Services, to meet the specific needs of businesses and industries.Â
Tech Mahindra
Industry: Information Technology (IT) , Data Analytics , AI , Robotics , IOT
Company Type: India’s top 500
Location:Â Off Karve Road, Pune Maharashtra , 411004
Founded in:1986
Tech Mahindra, a part of the Mahindra Group, is a prominent Indian multinational information technology services and consulting company. Established through a joint venture with British Telecom in 1986, it has grown into a $6.0 billion enterprise with a global presence, boasting over 1,48,000 employees spanning 90 countries. Tech Mahindra specialises in providing a wide range of IT services and solutions including, consulting, SAP, Oracle, digital supply chain services, infrastructure management, BPO, and network services, among others.
Oracle Financial Services Software
Industry: Information Technology (IT) , Data Analytics , AI , Robotics , IOT
Company Type: India’s Top 500
Location:Â Goregaon(E), Mumbai Maharashtra , 400057
Founded in:1977
Oracle, headquartered in Redwood Shores, California, is a multinational computer technology corporation. Founded in 1977 by computer programmers Larry Ellison and Bob Mine at Ampex Corporation, Oracle has grown to become the third-largest software company globally in terms of revenue and market capitalization as of 2020. The company specialises in developing and marketing a wide range of software and technology solutions, including database software, cloud-engineered systems, and enterprise software products.
Commercial real estate demand in India
Office space: The service sectors in India, such as IT, banking, and healthcare, are significantly responsible for the country’s requirement for office space. Cities like Bengaluru, Hyderabad, and Gurgaon always require modern, well-equipped office space to accommodate the expanding workforce.
Rental property: The nation’s expanding service sectors have a big impact on India’s rental property market. Businesses frequently seek out office space to rent as they expand, which sustains a consistent demand for real estate for commercial leases. Significant urban areas have the most demand for this product.
The demand for office and rental space in the service industry has a considerable impact on the Indian real estate market. It promotes economic growth and opens up chances for both investors and property owners to earn rental income by promoting property development and commercial real estate investment.
Impact of service sectors companies on India
Significant real estate developments in India have been sparked by the country’s service industries, notably IT, finance, and healthcare. Modern office buildings and technology parks have been developed as a result of the entrance of global corporations. Not only has this increased demand for commercial real estate but also for housing and other services. Indian cities and skylines have changed as a result of the country’s economic expansion and urbanisation, making it a popular location for international commerce and real estate.
FAQs
What are service sector companies in India?
Banking and finance, IT and technology, energy sector, education, logistics, export and import, media, health care, telecommunication, storage and communication, hotel industries, legal and law industry, business services, and so on are all included in the service sector.
What companies fall within the service sector?
TCS Infosys Wipro Redington India Ltd
Which service sector in India is the largest?
In India, the largest service sector in terms of both foreign exchange and industrial output is information technology.
Which three service industries are there?
What function does the service sector in India serve?
The development of an industry in a nation is directly influenced by the service sector, which offers a range of utilities like transportation, banking, power, maintenance, and communication to support the distribution of manufactured commodities.
Why is the service sector essential?
The expansion of the service sector is crucial to India's primary and secondary economies, which is why it has gained importance. These services include communication, storage, and transportation, as examples. For the economy to grow, basic services like offices, accounting, hospitals, and schools are required.
Why is India's service sector expanding at such a rapid rate?
Rapid urbanisation, the growth of the public sector, and rising demand for intermediate and final consumer services are the key drivers of the services industry's expansion. Access to effective services is now essential for the competitiveness and productivity of the entire economy.
Which Indian state has the highest service sector?
Chandigarh is first on the list of entities with the biggest contribution to the services sector in the GSDP among all the Indian states and Union territories, followed by Delhi.
What problems does the service sector face?
Increased rivalry. Consumer disloyalty and mistrust. Issues with attracting clients' attention.
How many service sectors are there in India?
It is subdivided into consumer, commercial, and public services. The hospitality industry, education, information technology, the media, and entertainment are among examples. The Indian economy is dominated by the tertiary sector.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
