India has 129 homegrown technology brands generating more than ₹60,000 crore in annual revenue, but only a small number have managed to build large-scale businesses. According to the Viksit Tech 47 Report 2026, just 14 brands earn more than ₹500 crore annually, while only two have crossed the ₹2,000 crore mark.

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The findings highlight a key challenge for India's technology industry: turning manufacturing growth into globally competitive businesses with strong product development capabilities.

The report, published by India Mobile Congress and Techarc, estimates average annual revenue at approximately ₹465 crore per brand. Many domestic companies continue to rely on trading finished products or assembling components instead of developing their own technology, software and intellectual property.

The report uses a framework called TAME, which tracks a brand's journey from trading and assembling to manufacturing and engineering. According to its findings, trading-led businesses often struggle to grow beyond ₹500 crore in revenue, while companies that develop stronger manufacturing and engineering capabilities have greater potential to scale.

However, moving up the value chain requires sustained investment, technical expertise and long-term planning. Companies must also manage intense competition, shorter product cycles and the risk of running out of capital.

India's consumer technology sector has expanded significantly, but building lasting global brands requires more than selling products under domestic labels. Greater investment in research and development, stronger product design and deeper technological capabilities could help Indian companies move beyond assembly-led operations.

The challenge now is to transform India's growing technology ecosystem into an industry capable of creating innovative products, owning intellectual property and competing internationally.