Top 10 Manufacturing Companies in India Driving Growth

India’s manufacturing sector is a strong pillar of its economic landscape, which has been significantly shaped by state policies, technological innovation, and a rapidly expanding domestic market. With over 27 million people directly and indirectly employed, accounting for almost 17% of the nation’s GDP, the sector is a significant source of employment generation. Estimates suggest that if India is to become its ambitious $30-35 trillion giant by 2047, the proportion of manufacturing in GDP must increase significantly to a minimum of 25%.

This aspiration takes flight through foreign direct investment, with a record $165.1 billion invested in the sector over the past decade, representing a 69% increase. The “Make in India” program, along with Production-Linked Incentive (PLI) programs in 14 strategically selected sectors, is propelling this growth in a dynamic way, transforming India into a rapidly growing, competitive global manufacturing hub and promoting the development of world-class manufacturing companies in India. In this article, we will explore the top 10 best Indian manufacturing companies. So, let’s begin!

Overview of India’s Manufacturing Landscape

India’s manufacturing landscape is defined by its enormous potential and strategic value. While currently contributing around 16-17% to the country’s GDP, the aim is to reach 25% by 2025 under the National Manufacturing Policy. The current production growth rate for the year FY 2023-24 stands at 1.4%, indicative of a slowing down in merchandise trade from all sectors of the world. Barring this, India’s contribution to world manufacturing, although currently at 2.8% compared to 28.8% for China, presents enormous scope for expansion and a conscious move towards becoming a global manufacturing hub.

Key Manufacturing Sectors in India

Indian manufacturing capacity is diversified across a broad base of industries, every one of which is significant to the economy and which is a reflection of the industry capacity of the nation. All of these industries are in the lead in terms of generating Indian manufacturing firms’ growth and dynamism.

Automotive: India leads the world in two-wheeler and three-wheeler manufacturing and is a close second in the passenger vehicle and commercial vehicle space. The sector is a strong job creator and innovation center for green mobility solutions.
Pharmaceuticals: India is referred to as the “pharmacy of the world” and is a world leader in generic drug manufacturing and exports. The sector is a generator of world healthcare and benefits from massive investments.
Chemicals: India’s chemical industry manufactures a vast range of products, including commodity chemicals, specialty chemicals, and petrochemicals. It is a downstream industry for several other sectors, including textiles and agriculture.
Textiles and Apparel: This age-old sector is one of the largest and oldest industries in India, offering significant employment opportunities, particularly in rural areas. It is increasingly turning towards sustainable business and high-value-added products.
Electronics and IT Hardware: With schemes such as the PLI, India is in the process of becoming a manufacturing hub for electronics, particularly smartphones. Large international players and the development of a strong ecosystem are driving this.
Heavy Engineering & Capital Goods: This is one of the most critical sectors for infrastructure development, as it manufactures capital equipment and machinery for industries such as power, construction, and mining. It contributes to industrial growth and technology development.

Top 10 Manufacturing Companies in India (2025 Edition)

1. Reliance Industries Limited

Founded In: 1973
Founder: Dhirubhai Ambani
Industry: Diversified Conglomerate (Petrochemicals, Oil & Gas, Retail, Telecom, Media, New Energy)
Headquarters: Mumbai, Maharashtra
Website URL: www.ril.com
Address: Maker Chambers IV, 222, Nariman Point, Mumbai – 400 021, India

Reliance Industries Limited (RIL) is India’s largest private enterprise, and its production activities form the core of its vast empire. RIL is best recognized for its petrochemical plants and as a world leader in polyester fiber and yarn, as well as a significant force in plastics molding. The firm has invested significantly, and even Mukesh Ambani stated that investments in Jio were the “biggest risk” taken, but they have revolutionized India digitally. For example, the Jamnagar refinery complex is the second-largest in the world, reflecting RIL’s philosophy of being large and efficient in production.

Apart from conventional manufacturing, RIL is making a significant investment in large-scale units for new energy manufacturing, such as gigafactories for solar PV, energy storage, green hydrogen, and fuel cells, to support India’s vision for a sustainable growth path. Its strong manufacturing platform supports its growth in consumer businesses such as Reliance Retail and Jio and thus is an indispensable part of the Indian economy.

Key Products: Petrochemicals, Petroleum products, Polyester, Polymers, Telecom equipment, and Energy Components.
Significance to the Indian Economy: The vast size and diversified businesses of RIL significantly contribute to India’s industrial production, exports, and digitalization.
Average Salary: ₹15.1 lakhs – ₹50.0 lakhs per year.

2. Tata Steel Ltd.

Founded In: 1907
Founder: Jamsetji Tata
Industry: Steel
Headquarters: Mumbai, Maharashtra
Website URL: www.tatasteel.com
Address: Bombay House, 24, Homi Mody Street, Fort, Mumbai – 400 001, India

One of the geographically most diversified steel groups in the world, Tata Steel has a global presence and operations. One of oldest and most renowned manufacturing companies in India, it has a rich history of industrializing India. The firm has an enormous production capacity in India, where it aims to double its steel-making capacity to 40 million tonnes by 2030, led by the advanced Kalinganagar plant, which has witnessed significant investment in the most advanced manufacturing technologies.

The ultimate goal area of Tata Steel is also sustainability, as evidenced in its pursuit of cleaner steelmaking and circular economy approaches. Its steel solutions are critical for key segments like automotive, infrastructure, and construction, propelling much of the country’s growth activities. The company regularly invests in R&D to engineer high-strength and next-generation products, staying ahead of the curve. In Q4 FY25, Tata Steel recorded more than a two-fold surge in consolidated net profit of ₹1,200.88 crore.

Key Products: Steel, Flat Products, Long Products, Tubes, Wires.
Significance to the Indian Economy: Tata Steel is crucial to India’s economic growth, providing materials and generating substantial employment opportunities.
Average Salary: ₹10.0 lakhs – ₹30.0 lakhs per year.

3. Hindustan Unilever Limited (HUL)

Founded In: 1933
Founder: Lever Brothers
Industry: Fast-Moving Consumer Goods (FMCG)
Headquarters: Mumbai, Maharashtra
Website URL: www.hul.co.in
Address: Unilever House, B. D. Sawant Marg, Chakala, Andheri East, Mumbai – 400 099, India

Hindustan Unilever Limited (HUL), the subsidiary firm of Unilever, is India’s largest FMCG manufacturing firm, touching the lives of millions of people every day. HUL’s massive manufacturing hub in India consists of 27 factories owned by HUL, which manufacture more than 80 billion units every year, with a product diversity to satisfy diverse consumer demands. The company continues to invest in the upgradation of its manufacturing plant and supply base to make them more efficient and eco-friendly, with production being powered by 97% renewable energy.

It builds on the power of its brand franchise, deep distribution to 9 out of every 10 Indian households, and continued product innovation specific to the Indian consumer. HUL is also a green leader in its production processes with a vision to achieve zero waste to landfill and sustainable sourcing. Its contribution to the value addition of the Indian economy is humongous, not only through direct manufacturing but also by building an even bigger distribution and supplier network. HUL has clocked a turnover of ₹60,680 crore and Profit After Tax of ₹10,644 crore in its Integrated Annual Report 2024-25.

Key Products: Soaps, Detergents, Shampoos, Oral Care, Skin Care, Food, Beverages.
Significance to the Indian Economy: HUL fuels consumer expenditure, energizes an enormous distribution and supply chain network, and sets the pace with sustainable manufacturing methods.
Average Salary: ₹15.9 lakhs – ₹50.0 lakhs per annum.

4. Maruti Suzuki India Ltd.

Founded In: 1981
Founder: Government of India (joint venture with Suzuki Motor Corporation, Japan)
Industry: Automotive
Headquarters: New Delhi
Website URL: www.marutisuzuki.com
Address: 1, Nelson Mandela Road, Vasant Kunj, New Delhi – 110 070, India

Maruti Suzuki India Limited is India’s largest passenger car maker with a robust market presence. The company has played a crucial role in motorizing India by providing low-cost and dependable cars. Its massive production plants in Gurugram and Manesar are a reflection of its dominant manufacturing strength, with Suzuki Motor Corporation investing almost 50% of its entire worldwide capital spending in India. Maruti Suzuki invests heavily in R&D, notably in green technologies such as CNG, hybrid, and electric vehicles, aligning with India’s green mobility vision.

The localization drive of the company in parts has tremendously helped increase the number of ancillary manufacturing companies in India. Its expansion plans, such as new models and production lines at its Kharkhoda plant (with an installed capacity of 2.5 lakh vehicles a year), reflect its consistent growth and involvement in the Indian automobile sector.

Key Products: Passenger Cars, Utility Vehicles, Vans.
Significance to the Indian Economy: Maruti Suzuki is a pillar of India’s automobile sector, playing a significant role in industrial production, employment, and the growth of ancillary industries.
Average Salary: ₹15.7 lakhs – ₹45.0 lakhs per year.

5. Mahindra & Mahindra Ltd.

Founded In: 1945
Founders: J.C. Mahindra, K.C. Mahindra, and Malik Ghulam Mohammed
Industry: Automotive, Farm Equipment, Financial Services, Hospitality
Headquarters: Mumbai, Maharashtra
Website URL: www.mahindra.com
Address: Gateway Building, Apollo Bunder, Mumbai – 400 001, India

Mahindra & Mahindra (M&M) is a multinational conglomerate famous for its widespread presence. It is the largest volume manufacturer of tractors in the world and a volume leader in utility vehicles and commercial vehicles in India. M&M continuously invests in manufacturing automation and product development to stay ahead of the competition. In Q4 FY25, M&M posted consolidated profit after tax (PAT) of ₹3,295 crore, up 20% over the previous year, with consolidated revenue at ₹42,599 crore.

M&M has also expanded its production base worldwide and is a lead driver of India’s “Make in India” drive, manufacturing defense systems and agribusiness products. Its innovation orientation is further reflected in its electric vehicle and farm machinery innovations, which drive the nation towards sustainable and efficient agriculture. M&M’s robust production base offers a good foundation for its diverse range of services.

Key Products: Tractors, Utility Vehicles, Commercial Vehicles, SUVs, Two-wheelers.
Significance to the Indian Economy: M&M plays a key role in India’s mechanized agriculture, rural economy, and the growth of the automobile and defense industries.
Average Salary: ₹14.2 lakhs – ₹48.5 lakhs per year.

6. Bajaj Auto Ltd.

Founded In: 1945
Founder: Jamnalal Bajaj
Industry: Automotive (Two-wheelers and Three-wheelers)
Headquarters: Pune, Maharashtra
Website URL: www.bajajauto.com
Address: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035, India

Bajaj Auto is a renowned two-wheeler and three-wheeler manufacturer with a vast global network. It is one of the top Indian manufacturing companies in its sector, best known for its technology-driven and affordable products. The factories are well mechanized and aim to produce quality products with maximum efficiency and output. Bajaj Auto has also spent considerable amounts on producing EVs, especially in its Chetak scooter, evidencing the seriousness with which it works towards green mobility.

Its strong export performance, with sales growing from ₹33,145 crore in FY22 to ₹44,870 crore in FY24, is a proof of India’s competitiveness as an international manufacturing hub. The company’s aggressive drive for innovation in engine tech and design has placed it at the absolute pinnacle of the automobile industry.

Key Products: Motorcycles, Scooters, Three-wheelers.
Significance to the Indian Economy: Bajaj Auto is a leading exporter of three-wheelers and two-wheelers, contributing significantly to India’s foreign exchange earnings and offering numerous employment opportunities.
Average Salary: ₹17.0 lakhs – ₹50.0 lakhs annually.

7. Hindalco Industries Limited

Founded In: 1958
Founder: Kumar Mangalam Birla
Industry: Metals (Aluminium and Copper)
Headquarters: Mumbai, Maharashtra
Website URL: www.hindalco.com
Address: Century Bhavan, Dr. Annie Besant Road, Worli, Mumbai – 400 030, India

Hindalco Industries, a member of the Aditya Birla Group, is a global leader in the aluminum and copper industries. It has integrated manufacturing units across the entire value chain, from mining to end products. The firm has made significant investments in upgrading its downstream capacities and smelters, with a focus on green and sustainable production. Hindalco is India’s largest producer of aluminum and operates the country’s largest copper smelting and refining facility.

Hindalco has reported its highest-ever consolidated EBITDA of ₹10,296 crore in Q4 FY25, up 43% year-over-year. Its products are essential to industries such as automotive, construction, packaging, and electrical, and it is a support system for most manufacturing businesses in India. Its steady growth demonstrates its strategic investments and robust market position, and it was awarded the World’s Most Sustainable Aluminium Company in 2024.

Key Products: Aluminium (ingots, rolled products, extrusions), Copper (cathodes, rods), Aluminium foil.
Significance to the Indian Economy: Hindalco contributes to India’s industrial and infrastructural growth by providing the backbone metals to numerous downstream industries.
Average Salary: ₹13.0 lakhs – ₹35.0 lakhs per annum (on different posts).

8. Sun Pharmaceutical Industries Limited

Founded In: 1983
Founder: Dilip Shanghvi
Industry: Pharmaceuticals
Headquarters: Mumbai, Maharashtra
Website URL: www.sunpharma.com
Address: Sun House, Plot No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai – 400 063, India

Sun Pharma Industries is India’s leading pharmaceutical firm and the fourth-largest specialty generic pharmaceutical firm in the world. Its extensive manufacturing network of ultra-modern facilities is located throughout India and globally, adhering to strict international standards of quality. The firm invests heavily in R&D to introduce novel and cost-effective drugs to healthcare markets that are important to the industry.

Sun Pharma’s finances improved, and its current ratio also rose to 1.97 in FY23, showing excellent liquidity. Its net profit ratio was highest in FY23 at 40.71%. Sun Pharma’s strong manufacturing capabilities are the reason it has been able to supply life-saving medicines to millions of people worldwide, making it a prime example of successful manufacturing companies in India.

Key Products: Generic medicines, Branded generics, Specialty items, APIs (Active Pharmaceutical Ingredients).
Significance to the Indian Economy: Sun Pharma is a global leader in the pharmaceutical industry, which boosts India’s healthcare sector and contributes significantly to drug exports.
Average Salary: ₹16.0 lakhs – ₹50.0 lakhs per year.

9. Larsen & Toubro Limited (L&T)

Founded In: 1938
Founders: Henning Holck-Larsen, Søren Kristian Toubro
Industry: Engineering, Construction, Manufacturing, IT, Financial Services
Headquarters: Mumbai, Maharashtra
Website URL: www.larsentoubro.com
Address: L&T House, Ballard Estate, Mumbai – 400 001, India

Larsen & Toubro (L&T) is a well-known Indian multinational conglomerate possessing better engineering, construction, manufacturing, and technological capabilities. Its manufacturing division is extremely diversified and makes gigantic equipment and products for heavy industry, defense, and nuclear. L&T’s focus on indigenous manufacturing and technology autonomy has made it the pillar of Indian industry. The company invests periodically in new manufacturing technology like smart factories and automation to make it more efficient and accurate.

L&T’s mega projects, such as defense manufacturing and power plant equipment, demonstrate its strategic contribution to India’s industrialization and infrastructure growth, making it one of the strongest manufacturing companies in India. In addition to competing with top IT companies in India in innovation and digital transformation, L&T registered a net profit of ₹5,497 crore in Q4 FY25, L&T registered a net profit of ₹5,497 crore, 25% year-on-year growth, and a record consolidated order book value of ₹5,79,137 crore.

Key Products: Heavy engineering equipment, Electrical & automation products, Construction machinery, Valves, and Industrial machinery.
Significance to the Indian Economy: L&T is a leading driver of India’s large-scale infrastructure development, defense readiness, and overall industrialization.
Average Salary: ₹15.0 lakhs – ₹50.0 lakhs per annum.

10. Hero MotoCorp Ltd.

Founded In: 1984 (as Hero Honda, renamed Hero MotoCorp in 2011)
Founder: Brijmohan Lall Munjal
Industry: Automotive (Two-wheelers)
Headquarters: New Delhi
Website URL: www.heromotocorp.com
Address: The Grand Plaza, Plot No. 2, Nelson Mandela Road, Vasant Kunj, Phase–II, New Delhi – 110 070, India

Hero MotoCorp is the world’s largest two-wheeler producer, for more than two decades. Hero MotoCorp has a huge network of plants across India producing millions of scooters and motorcycles every year. Hero MotoCorp is also a pioneer in green manufacturing using green technology along with power-saving manufacturing practices. The company is heavily foraying into electric vehicles with its Vida brand with a newfound enthusiasm towards future mobility solutions.

Its large rural and urban network in India for sales and services shows its leadership in the market as well as its enormous contribution to the Indian economy as a pre-eminent manufacturing companies of India. The company’s portfolio is highly affected by probable new regulations in ABS, where nearly 94% of their portfolio would witness an increase in cost to ₹3,000-₹5,000 per vehicle.

Key Products: Motorcycles, Scooters.
Significance to the Indian Economy: Hero MotoCorp makes a substantial contribution to the Indian automobile sector, providing affordable personal mobility and creating significant employment opportunities.
Average Salary: ₹15.0 lakhs – ₹50.0 lakhs per year.

Factors Driving Manufacturing Growth in India

Numerous strategic forces are aligning to make India a viable platform for the growth of manufacturing companies, thereby making India an increasingly viable global production hub.

Government Schemes: Schemes such as “Make in India” and the Production-Linked Incentive (PLI) scheme for 14 sectors provide substantial fiscal and policy incentives to promote domestic and foreign investment in manufacturing. These schemes will promote scale and competitiveness among manufacturing companies in India, which is generating billions of dollars in new investment.
Growing Domestic Market: India’s huge and growing middle class, combined with increasing disposable incomes, creates enormous domestic demand for manufactured products. The vast consumer base offers a strong base upon which India’s manufacturing companies can increase output and enjoy benefits of scale economies.
Skilled Manpower and Cost Advantage: India has a vast reserve of skilled and semi-skilled manpower at low-cost wages, giving the manufacturing industry a huge cost benefit. All efforts through Skill India-type programs still raise the argument level of skill of the nation’s labor force, with millions trained every year.
Infrastructure Development: Heavy investment in building physical infrastructure, such as national highways (more than 10,000 km developed annually), industrial corridors (e.g., DMIC), logistics networks, and port modernization, is lowering the costs of operation and enhancing supply chain efficiency for Indian manufacturing firms.
Industry 4.0 and Adoption of Digital Transformation: Indian industries are adopting digital technologies aggressively, such as 3D printing, artificial intelligence, IoT, and automation, for productivity enhancement, complexity reduction, and improved product quality.

Impact of the Manufacturing Sector on India’s Growth

Manufacturing is the backbone of India’s entire economic goals, and its impact permeates other sectors of the economy, establishing the position of manufacturing companies in India as key growth drivers.

Economic Diversification: A robust manufacturing industry makes India less dependent on the services sector and agriculture industries, resulting in a more balanced and stronger economy.
Increased Exports and Foreign Exchange: Increased production capacity contributes to increased exports of factory-produced goods, which contribute significantly to the growth of India’s foreign exchange reserves and balance of payments. Indian merchandise exports were a record $447 billion in FY23 due primarily to the manufacturing sector.
Poverty Reduction and Income Growth: The industry creates numerous employment opportunities, particularly in rural and semi-urban areas, leading to higher household incomes and poverty alleviation.
Technological Self-Reliance: Indigenous production fosters indigenous innovation, technology transfer and R&D, reducing India’s import dependence and indigenousness in strategic sectors. This is critical to national security and economic sovereignty, particularly among Indian defense and electronics manufacturing companies.
Foreign Direct Investment (FDI) Attraction: A strong and growing manufacturing pillar helps India become a preferred destination for foreign direct investment. Multinationals seeking to diversify their supply chains find India to be a secure and scalable destination, with capital, technology, and best practices being shifted to Indian manufacturing firms. Manufacturing FDI alone has crossed $165.1 billion over the last decade.

Challenges and Opportunities in India’s Manufacturing Landscape

Although the manufacturing sector in India holds great promise, it also faces unique challenges that can be best addressed to reap significant benefits for India’s manufacturing industry.

Infrastructure Shortages: Despite ongoing expansion, problems like asymmetric power supply, poor logistics infrastructure, and last-mile connectivity continue to plague the country, increasing the cost of operations of the manufacturing companies in India.
Skill Gap: A significant gap exists between the required skills of the new manufacturing age and the skills available in the labor market. This necessitates more vocational training and collaboration between industry and academia to equip young people with the skills needed to work for Indian manufacturing firms. Training programs are aggressively moving efforts towards training millions by the government.
Regulatory Issues: As the government streamlines processes, a difficult regulatory climate and compliance needs may nevertheless deter investment and hinder the ease of doing business for some Indian manufacturing businesses. The effort to reduce more regulation can bring with it greater transparency and quicker approvals.
Global Competition and Market Shifts: Indian manufacturing enterprises in India are confronted with intense competition from established international players, especially those from highly developed manufacturing economies of other countries.
Below-Promised R&D Expenditure: India’s R&D expenditure, particularly in manufacturing, is lower than in most advanced economies, limiting the scope for innovation. More investment in R&D, promoting intellectual property rights, and fostering a culture of innovation can release considerable growth value for Indian manufacturing businesses, propelling them toward high-end product innovation.

Career Opportunities & Average Salary

The new Indian manufacturing sector offers a wide range of career choices, from the factory floor to top management, with salaries varying according to talent, experience, and the firm.

Production & Operations: Titles such as Production Engineer, Quality Control Engineer, and Operations Manager are in the highest demand, with an emphasis on efficiency, quality, and continuity of production streams. The average salary of Production Managers ranges from ₹6 LPA to ₹12 LPA and increases significantly with experience, particularly in large manufacturing companies in India.
Engineering & Design: Product design, process improvement, and automation are all critical in the field of Mechanical, Electrical, Chemical, and Industrial Engineers. Design Engineers may earn an average annual salary of ₹3.80 lakhs, with higher-paying niche positions, such as those in R&D and new product development, particularly in India’s high-tech manufacturing firms.
Supply Chain & Logistics: With supply chain optimization as the priority, logistics, procurement, and inventory management positions are fundamental. These individuals manage material flow efficiently and control costs for Indian manufacturing firms, with supply chain managers typically earning between ₹5-15 LPA, depending on the firm’s size.
Research & Development (R&D): With innovation as the driver of power, R&D roles are growing, focused on new product development, process innovation, and materials science. These roles are critical to future-proofing Indian manufacturing companies and are paid fat pay cheques because of their strategic importance.
Managerial and Leadership Positions: From Factory Managers and manufacturing heads to Manufacturing Directors and Chief Operating Officers (COOs), leadership roles are crucial for strategy and operational excellence. Pay scales for such highest posts can reach ₹30 lakhs to ₹50 lakhs per annum in premier Indian manufacturing companies based on the unrivaled level of responsibility and contribution.

Conclusion

Manufacturing companies in India are leading the way to a new and cutting-edge era. With the government’s robust support, enormous domestic market, and growing foreign interest, the sector is being faced with explosive expansion. Challenges like infrastructure deficits and human resource build-up remain, but are being met relentlessly, transforming stumbling blocks into building blocks for innovation and expansion.

With India moving closer to being the manufacturing center of the world economy, long-term growth and prosperity of India’s top manufacturing companies will play a deciding role in its economic destiny, generating mass employment, and helping its improved image worldwide.

FAQs

1. What is the present share of manufacturing in the GDP of India?

Currently, manufacturing accounts for a contribution of 16-17% to India’s GDP. The government aims to increase the percentage to 25% to boost economic growth.

2. Which are the most essential industries in India’s manufacturing sector?

The critical sectors are Automotive, Pharmaceuticals, Chemicals, Textiles and Apparel, Electronics and IT Hardware, and Heavy Engineering & Capital Goods. These various sectors demonstrate the diversity of manufacturing firms in India.

3. What government initiatives are financing India’s manufacturing industry?

Programs like “Make in India” and other Production-Linked Incentive (PLI) schemes are providing policy support and financial incentives to Indian producers and hence encouraging domestic manufacturing and foreign investment.

4. How much is the average compensation in India’s manufacturing industry?

Compensation is mixed depending on the job and experience. For Mechanical Engineers, the average annual salary would be approximately ₹3.50 lakhs. Production Managers would be paid between ₹6-12 lakhs, and leadership positions in leading manufacturing firms in India may reach up to ₹30-50 lakhs per year.

5. How is India attracting foreign investment for manufacturing?

India is attracting FDI through effective government policies, PLI initiatives, a vast domestic market, a talented workforce, and ongoing efforts to ease the business environment, offering a strong proposition for overseas manufacturing companies in India.

Stella Walker

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