Largest Companies in India (2026)

Reliance Industries is India's largest company by revenue, at US$119.7bn, and its most valuable, with a market value of US$188.5bn in Forbes's data. Incorporated in 1973 and based in Mumbai, its primary business is hydrocarbons, and it also runs oil-to-chemicals, retail, digital services, financial services and media businesses. Fortune ranks it 85th in the world.

Life Insurance Corporation of India (LIC) is a state-owned insurer created in 1956 under the Life Insurance Corporation Act. It sells life, pension, annuity, health and unit-linked policies, and its revenue of US$108.0bn makes it India's largest financial company by revenue. Its assets of US$665.8bn are second in India only to State Bank of India.

Indian Oil Corporation refines, transports by pipeline and markets petroleum products, and also explores for oil and gas and sells natural gas and petrochemicals. Headquartered in New Delhi and majority government-owned according to Fortune, it reported revenue of US$88.5bn.

Rajesh Exports, based in Bengaluru, manufactures gold and gold products and sells jewellery through its Shubh Jewelers retail chain. Its US$85.0bn revenue ranks it fourth in India, but Forbes lists only 112 employees, profit of US$19.3m and a market value of US$338m, making it an outlier among the country's largest companies. Fortune records a 76.1% rise in its dollar revenue.

State Bank of India (SBI) is the country's largest bank, with revenue of US$80.3bn and assets of US$877.4bn, the largest of any Indian company. It is majority government-owned and its profit of US$9.4bn is the highest in India.

Oil and Natural Gas Corporation (ONGC) explores for and produces crude oil and natural gas and has a refining and marketing segment. The state-controlled company is based in New Delhi and reported revenue of US$75.6bn.

HDFC Bank is India's largest private-sector bank by revenue, at US$56.1bn, with treasury, retail and wholesale banking segments. Its market value of US$123.2bn is second in India only to Reliance, and its profit of US$8.6bn is third after SBI and Reliance.

Bharat Petroleum refines crude oil and markets petroleum products, with a smaller exploration and production segment. The Mumbai company is majority state-owned and reported revenue of US$51.4bn.

ICICI Bank provides retail and corporate banking and treasury services and has life-insurance operations. The Mumbai bank's revenue was US$35.3bn and profit US$6.1bn, with a market value of US$93.0bn.

Larsen & Toubro is an engineering and construction group whose segments include infrastructure, hydrocarbons, power, heavy and defence engineering, IT services and financial services. It reported revenue of US$32.4bn and 437,442 employees.

Tata Consultancy Services (TCS) provides IT services and consulting to banking, manufacturing, retail, communications and life-sciences clients. It is India's largest IT company by revenue, at US$30.2bn, and the largest employer in the top 25, with 584,519 staff; its profit of US$5.6bn is second among Indian non-financial companies after Reliance.

Hindalco Industries produces aluminium and copper and reports Novelis as a separate segment. It reported revenue of US$30.0bn and 49,211 employees.

Tata Steel manufactures iron and steel products for the automotive, construction, energy and engineering industries. Revenue was US$26.3bn and profit US$1.2bn.

Bharti Airtel provides mobile services in India, South Asia and Africa, together with enterprise services, tower infrastructure, home broadband and digital television. Revenue was US$23.9bn, and its US$120.9bn market value is the third-highest in India, after Reliance and HDFC Bank.

Mahindra & Mahindra manufactures passenger and commercial vehicles and farm equipment, alongside industrial and consumer-services businesses. The Mumbai company reported revenue of US$22.4bn.

NTPC generates electricity, mainly from coal-fired power plants, and sells bulk power to state utilities. It reported revenue of US$21.5bn and 142,919 employees.

JSW Steel produces hot- and cold-rolled coils, galvanised and coated products and other steel goods. Revenue was US$21.0bn and profit US$2.5bn, more than double that of Tata Steel.

Infosys is a Bengaluru-based digital services and consulting company and India's second-largest IT company by revenue, at US$20.2bn. It reported profit of US$3.3bn and 328,594 employees.

Grasim Industries produces cellulosic fibres, chemicals and building materials and has a financial-services segment. Revenue was US$19.3bn.

Axis Bank provides banking to retail, small-business, government and corporate clients through treasury, retail and wholesale segments. Revenue was US$18.4bn.

Bank of Baroda is a commercial bank headquartered in Vadodara, with treasury, corporate and retail banking segments. It reported revenue of US$17.7bn and assets of US$221.6bn.

Canara Bank was founded by Ammembal Subba Rao Pai on 1 July 1906 and is headquartered in Bengaluru. It reported revenue of US$17.3bn and assets of US$203.2bn.

Bajaj Finserv is a Pune-based holding company with life insurance, general insurance, retail financing and wind-power businesses. Revenue was US$17.3bn.

Punjab National Bank is a New Delhi-based commercial bank with treasury, corporate and retail banking operations. It reported revenue of US$16.9bn and assets of US$214.4bn.

Coal India, based in Kolkata, produces and sells coking and non-coking coal and related products. Revenue was US$16.7bn and profit US$3.5bn.