Top 15 Manufacturing Companies in India

The World Bank expects that India’s GDP will rise by 8.3% in 2021, despite the pandemic’s potential negative impact.

The manufacturing industry in India is estimated to be worth Rs 30,52,500 crore in 2020, accounting for 18% of GDP.

Here are the top 15 manufacturing companies in India.

Top 15 Manufacturing Companies in India

1) Tata Motors Ltd

During our lives, it has been one of the most acclaimed and renowned industrial firms. They offer a diverse range of automobiles, ranging from little cars like the Tata Nano to premium vehicles like the Jaguar Land Rover.

Tata Motors’ main subsidiaries include the English premium car manufacturer Jaguar Land Rover (the maker of Jaguar and Land Rover cars) and the South Korean commercial vehicle manufacturer Tata Daewoo.

They have vehicle assembly plants in India, the United Kingdom, South Korea, Thailand, Spain, and South Africa, and they plan to expand to Turkey, Indonesia, and Eastern Europe in the future.

Tata Motors entered the electric vehicle market with the Tigor EV, which was released in 2017 and the newer, more powerful Nexon EV, which was released early last year.

Revenue (2021) Rs. 252,437 crores
Total Assets (2021) Rs. 343,125 crores
Number of employees (2021) 78,906

Despite the weak consumer output, Tata Motors remained afloat and thriving, thanks to the 2017 SUV Tata, which was the company’s top contributor and performer.

The crossover saw its 50,000th unit roll out from the Ranjangaon, Maharashtra plant in August of last year, and overall estimated sales of around 55,000 units between April 2018 and March 2019 in FY2019.

The value of this company stems from its foundation, which means that while having a global presence in a wide range of industries, they have never invested in alcohol or tobacco.

Tata Motors had a market share of around 37% in India’s automobile industry in the financial year 2020. It is ranked #784 on the Forbes Global 2000 list for 2021.

2) Tata Steel Limited

The name Tata Steel has been with us since Jamsetji Nusserwanji Tata launched the company on August 26, 1907. With an annual capacity of 13 million tonnes, TISCO (Tata Iron and Steel Company Ltd), now Tata Steel Ltd, is India’s second-largest steel producer after SAIL (Steel Authority of India Limited). They were number 12 on the list.

The Tata Centre in Kolkata, West Bengal, serves as the marketing headquarters for this multinational corporation, which is located in Mumbai.

It is the world’s largest geographically diverse steel producer, with activities and commercial presence in more than 50 countries and manufacturing operations in 26 countries, including India, Australia, Malaysia, Thailand, Vietnam, the United Arab Emirates, Mozambique, the Ivory Coast, South Africa, the United Kingdom, France, the Netherlands, and Canada.

Revenue (2021) Rs. 157,189 crores
Total Assets (2021) Rs. 245,487 crores
Number of employees (2021) 32,364

SAIL, JSW Steel, ArcelorMittal, Jindal Steel and Power, Essar Steel, and VISA Steel are some of Tata Steel’s main competitors. Automotive Steels, Galvano, Tata Agrico, Astrum, Bearings, Pipes, Precision Tubes, Shaktee, Steelium, Tiscon, and Wiron are some of the company’s products.

Tata Steel had a market share of around 35 percent in the steel manufacturing company industry in India in the financial year 2020. It is ranked #939 on the Forbes Global 2000 list for 2021.

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3) Hindalco Industries Ltd

The headquarters of Hindalco Industries Ltd, a subsidiary of the Aditya Birla Group, are in Mumbai.

They dominate a wide range of industries, including architectural, electrical, industrial, transportation, defense, and consumer durables. The Aditya Birla Group founded Hindustan Aluminum Company Limited, now Hindalco, in 1958.

In 1962, it commenced production in Renukoot, Uttar Pradesh, producing 20 thousand metric tons of aluminum metal and 40 thousand metric tons of alumina per year.

Revenue (2021) Rs. 119,330 crores
Total Assets (2021) Rs. 169,528 crores
Number of employees (2021) 40,000

Hindalco purchased Novelis, the world’s largest producer of rolled aluminum and a major recycler of aluminum cans, from a Canadian company.

4) Mahindra & Mahindra Ltd

Mahindra & Mahindra Ltd is a multinational car manufacturing firm that was founded in 1945. Once Muhammad & Mahindra, now Mahindra and Mahindra, is one of the world’s largest tractor manufacturers.

Revenue (2021) Rs. 96,241 crores
Total Assets (2021) Rs. 167,006 crores
Number of employees (2021) 42,875

Mahindra and Mahindra Ltd’s main competitors are Maruti Suzuki and Tata Motors.

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5) Maruti Suzuki India Ltd

Maruti Suzuki India Ltd, formerly known as Maruti Udyog Ltd, was established by the Indian government in 1981, with headquarters in New Delhi. In 2003, Suzuki Motor Corporation purchased the company.

They went from design to rolling out cars from a production line in a record-breaking 13 months. Thanks to their assembly machinery, which includes about 1,700 robots, a new car is produced every 12 seconds.

Maruti Suzuki also established the Maruti Driving School in Delhi, and later expanded its services to other cities.

This was part of the company’s corporate social obligation. Tata Motors, Honda, Hyundai, Mahindra, and Toyota are among the company’s primary manufacturing competitors in the Indian market.

Revenue (2021) Rs. 78,994 crores
Total Assets (2021) Rs. 63,627 crores
Number of employees (2021) 15,945

Maruti Suzuki India Ltd has a market share of nearly 50% in the passenger carmaker business in India in the financial year 2020.

6) Grasim Industries Ltd

Grasim Industries Ltd began as an Indian textile producer in 1947 and has since expanded into other industries such as Viscose Staple Fiber (VSF), cement, sponge iron, chemicals, and Diversified Financial Services (NBFC, Asset Management, and Life Insurance).

They sell Viscose Rayon Fiber to over 50 nations, making them the country’s top exporter and producer of the material. It should come as no surprise that it is a subsidiary of the Aditya Birla Group.

Thailand, Indonesia, India, and China are home to their manufacturing facilities. From 1994 through 2012, winners of the Grasim Mr. India competition were sent to compete in foreign tournaments such as Mister International and Mister World.

Revenue (2021) Rs. 78,591.71 crores
Total Assets (2021) Rs. 244,415.80 crores
Number of employees (2021) 24,123

In FY 2021, the firm recorded consolidated net revenue of INR 76,398 crores and EBITDA of INR 15,766 crores (EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization and is a metric used to analyze a company’s financial performance). On the Forbes Global 2000 list for 2021, it is ranked #1117.

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7) JSW Steel Ltd

JSW Steel Limited, based in Mumbai, is an Indian multinational steel manufacturing corporation with operations in over 140 countries.

After merging with ISPAT Steel, JSW Steel became part of the O.P. Jindal Group, a $13 billion conglomerate. They are a manufacturing company with a major presence in India, the United States, South America, and Africa in core economic areas such as steel, energy, infrastructure, cement, venture capital, and sports.

The first steel plant was built in Vasind, near Mumbai, in 1982. JSW Steel Ltd. was formed in 2005 when JISCO (Jindal Iron and Steel Company) and JVSL (Jindal Vijayanagar Steel Ltd.) combined.

Revenue (2021) Rs. 73,872 crores
Total Assets (2021) Rs. 131,820 crores
Number of employees (2021) 12,599

On the Forbes Global 2000 list for 2021, it is ranked #928.

8) Motherson Sumi Systems Ltd

Motherson Sumi Systems Ltd. (MSSL) was formed in 1986 as a joint venture between India’s Samvardhana Motherson International Ltd and Japan’s Sumitomo Wiring Systems Ltd. (SWS). The Motherson Group includes MSSL.

They are one of the world’s major makers of commercial vehicle wiring harnesses and passenger automobile rearview mirrors.

They are also India’s leading manufacturer of passenger automobile wire harnesses and mirrors. Wiring harnesses (electrical distribution systems), rearview mirrors, entire polymer modules, high precision metal parts, and other products are among their offerings.

Revenue (2021) Rs. 63,767 crores
Total Assets (2021) Rs. 45,495 crores
Number of employees (2021) 114,628

On the Forbes Global 2000 list for 2018, it is ranked #1698. In 2019, it was removed from the list.

9) UltraTech Cement Ltd

UltraTech Cement Ltd, based in Mumbai, is an Indian cement manufacturer and a subsidiary of the Aditya Birla Group.

With a capacity of 116.75 million tonnes per year, they are India’s largest producer of grey cement, ready mix concrete (RMC), and white cement.

With over a hundred RMC (Ready Mix Concrete) plants in over 50 cities, UltraTech is India’s largest concrete manufacturer.

They operate in a number of countries, including the United Arab Emirates, Bahrain, Sri Lanka, and India. Outside of China, UltraTech Cement Ltd is the only company in the world with a capacity of more than 100 million tonnes.

Revenue (2021) Rs. 42,772.60 crores
Total Assets (2021) Rs. 79,337.13 crores
Number of employees (2021) 22,000

For the period April 2020 to March 2021, UltraTech Cement Ltd has been designated as a Great Place to Work-CertifiedTM Business.

10) UPL Ltd

United Phosphorus Limited was founded on May 29, 1969, and changed its name to UPL Limited in October 2013. They are a worldwide manufacturing firm based in India that produces and sells agrochemicals, industrial chemicals, chemical intermediates, and speciality chemicals, as well as crop protection solutions.

Agro-business, which includes agrochemicals, seeds, and other agricultural-related products, is their primary source of revenue, with their headquarters in Mumbai.

Their non-agro division consists of a manufacturing company that sells industrial chemicals and other non-agricultural items such as fungicides, herbicides, and insecticides, among other things. With products in over 150 countries, UPL has a strong market position.

Revenue (2020) Rs. 35,756 crores
Total Assets (2020) Rs. 23,043 crores
Number of employees (2020) 7,435

UPL was featured as a manufacturing company in Asia’s Fab 50 Companies in 2017 before being removed in 2018.

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11) Asian Paints Ltd

Headquartered in Mumbai, Asian Paints is the first name that comes to one’s mind when they buy their dream house! They produce paints and home decor products. Like how any underdog story starts, even this one was started in a garage in Gaiwadi, Girgaum, Mumbai by four friends in the 1940s.

And the rest, as they say, is history. Its trajectory is marked by consistent growth, bolstered by a shift in perception as a premium market leader fostering innovation. Asian Paints is India’s largest, Asia’s third-largest, and the world’s ninth-largest paints corporation, which comes as no surprise.

They’ve had some memorable taglines throughout the years; one of the most memorable was the Har Ghar Kucch Kehta Hai (Every Home Says Something) slogan from 1980, which is still fresh in our minds and appears in their ads.

Revenue (2021) Rs. 20,515 crores
Total Assets (2021) Rs. 16,154 crores
Number of employees (2021) 7,600+

Asian Paints, together with its subsidiaries, has operations in 17 countries and 23 paint manufacturing sites, serving customers in 65 countries.

Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings, and Taubmans are its subsidiaries. Through the five corporate brands Asian Paints, Berger International, Apco Coatings, Taubmans, and SCIB Paints, Asian Paints has a presence in five regions around the world: South Asia, South East Asia, South Pacific, Middle East, and Caribbean.

Asian paints has a market share of roughly 39% in the paint manufacturing firms industry in India in the financial year 2020.

12) Bajaj Auto Limited

Bajaj Auto Ltd is an Indian three-wheeler and two-wheeler vehicle manufacturer. They are the world’s largest three-wheeler manufacturer, which comes as no surprise.

They are also India’s and the world’s second and third largest motorcycle manufacturers, respectively. Bajaj has plants in Akurdi, Chakan (Pune), Waluj (near Aurangabad), and Pantnagar in Uttarakhand, among others. Bajaj Auto Limited was divided into three companies on May 26, 2008: BAL (Bajaj Auto Ltd), BFL (Bajaj Finserv Ltd), and BHIL (Bajaj Holdings and Investment Limited).

Revenue (2020) Rs. 29,919 crores
Total Assets (2021) Rs. 26,510 crores
Number of employees (2021) 10,000

On the Forbes Global 2000 list for 2021, it is ranked #1620.

13) Bombay Dyeing

Bombay Dyeing & Manufacturing Company Limited (Bombay Dyeing), the flagship company of the Wadia Group, was formed in 1879 and is headquartered in Mumbai.

Their main products include furniture, bed linen, towels, and other similar items. Ratan Tata, the ex-chairman of the Tata group, served on the board of directors until 2013, when he resigned and was replaced by Cyrus Mistry.

Revenue (2020) Rs. 498.95 crores
Total Assets (2021) Rs. 1240.6 crores
Number of employees (2021) 639

Welspun Group, Trident Group, and others are among its major Indian competitors.

14) Hindustan Unilever Limited

Established in 1931, Hindustan Vanaspati Manufacturing Co. was renamed Hindustan Unilever Limited (HUL) in June 2007. This manufacturing company is based in Mumbai and is a subsidiary of the Anglo-Dutch multinational Unilever.

Foods, beverages, cleaning agents, personal care items, water purifiers, and other fast-moving consumer goods are among their offerings. In December 2018, HUL bought the India business of GSK (GlaxoSmithKline).

Revenue (2020) Rs. 40,415 crores
Total Assets (2021) Rs. 20,153 crores
Number of employees (2021) 21,000

ITC, P&G, Colgate-Palmolive, and other major competitors in the Indian market.

15) Apollo Tyres

Apollo Tyres Ltd is an Indian multinational tire manufacturing firm founded in 1972. Its headquarters are in Gurugram.

The firm today operates five production facilities in India, one in the Netherlands, and one in Hungary. Its first plant was established in Perambra, Kerala, India.

India generates 69% of the company’s income, 26% from Europe, and 5% from other nations. In March 2016, Apollo launched their two-wheeler tire.

Apollo Tyres will sell two brands of tires in Europe by 2020: Apollo and Vredestein.

Revenue (2020) Rs. 16,373.87 crores
Total Asset (2020) Rs. 23,249.99 crores
Number of employees (2021) 16,000

Bridgestone, MRF, and CEAT Limited are among its primary competitors.

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Final Thoughts

Due to the rising Indian consumer market, the manufacturing industry has emerged as a fast-growing sector.

During the fiscal year 2019, the manufacturing industry’s annual growth rate was around 3.9 percent. With the advent of new technology in recent years, manufacturing firms have had to increase their efficiency and precision of work.

Frequently Asked Questions

Which are the top 3 Indian manufacturing subsectors having top manufacturing companies?

Automobile, chemical, and pharmaceutical industries are the top three manufacturing subsectors in India.

What are some limitations of the Indian manufacturing sector for manufacturing companies?

Other drawbacks include an irregular and confusing tax structure, weak logistic assistance, and a lack of a quality culture.

What are the initiatives taken by the Indian Government to encourage and support manufacturing companies in India?

Make in India, Skill India, and the National Manufacturing Policy are the three.

How can India improve manufacturing?

Many ideas, such as establishing systems to address bottlenecking issues, developing efficient production strategies, and analytical plant design, can improve the manufacturing companies industry in India. Manufacturing organizations can also use the newest machine learning technologies to boost efficiency and keep their processes current.

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