Top Cloud Computing Stocks in India 2025

Every time you use a digital payment app, stream a movie, or back up photos online, you’re relying on cloud technology. It’s no longer just a backend tool; it powers daily life. This growing dependence is fueling the rise of cloud computing companies in India. This is turning tech enablers into stock market leaders while fueling the digital economy. 

For investors, the top cloud computing stocks in India offer more than just tech exposure; they represent essential services for a connected world. So, if you are looking to invest in a future-ready sector that offers you growth and sustainability, then read this guide.

Understanding the Cloud Computing Sector in India

India’s cloud computing sector is expected to reach $52.22 billion by 2030 from $21.37 billion in 2025, at a compound annual growth rate (CAGR) of 19.57%. The key growth drivers include the rise of AI, big data, and the expansion of data centre infrastructure. 

In addition to this, the Union Budget 2025 gave a direct push to the sector by emphasising Digital India initiatives. This includes a focus on cloud infrastructure, cybersecurity, and AI research. The Digital Personal Data Protection Act, 2023, is further boosting enterprise confidence with robust data security and localised storage.

A major development is the Reserve Bank of India’s (RBI) announcement of a pilot in 2025. This aims to provide cost-effective local cloud data storage for financial institutions. This initiative, in collaboration with Indian IT firms, aims to enhance data security and reduce dependence on global cloud providers. India’s cloud services market for BFSI was valued at US$ 8.3 billion in 2023 and is projected to reach US$ 24.2 billion by 2028.

Global giants like AWS, Microsoft Azure, and Google Cloud are expanding their data centre footprints. Also, Indian leaders such as Reliance Jio, TCS, and Infosys are top cloud computing companies in India. The rise of hyperscale data centres and local cloud regions is improving latency, security, and regulatory compliance. Backed by support and demand, the best cloud computing companies to invest in are expected to be at the forefront of innovation.

List of Top Cloud Computing Stocks in India 2025

Here is the list of cloud computing stocks in India that you should look out for.

Overview of Top Cloud Computing Companies in India

Knowing the list is not enough; it is important that you know the reasons, too. So, here is a brief outlook on the top Cloud Computing stocks in India to help you plan your investment decision. 

1. Infosys Ltd.

Infosys is a global IT leader recognised for its advanced cloud computing and digital transformation services. One of the listed cloud computing stocks, this company is known for offering cloud ERP services to IoT and immersive technologies.

Starting from July 2024, Infosys focused on positioning itself as a leader in advanced technologies. It started by securing a five-year deal with Sector Alarm to modernise core systems on Microsoft Dynamics 365 using Infosys Cobalt. Following this, in December 2024, it launched the Google Cloud Centre of Excellence. It aims to accelerate enterprise AI solutions, integrating Infosys Topaz and Cobalt with Google Cloud’s generative AI. 

The company focused on a major hiring drive for cloud and AI experts to support its expanding cloud portfolio, showing its commitment and leadership. The company also unveiled over 200 enterprise AI agents as part of its Infosys Topaz offerings. 

2. Tata Consultancy Services (TCS) Ltd.

When it comes to IT of cloud computing companies in India, TCS holds a prominent place. Known for its innovation and advances, the company has positioned itself as the pioneer in the industry. Owing to the same, TCS has passed $30 billion in revenue in FY25 with GenAI and cloud solutions as key growth drivers.

The company recently launched SovereignSecure Cloud. It is India’s first AI-powered secure cloud platform for the public sector and defence, focusing on data sovereignty and cybersecurity. Showing its performance, it also displayed GenAI Data Accelerator and new frameworks for enterprise cloud adoption at Google Cloud Next 2025.

TCS has also split its AI business unit to sharpen its focus on cloud and AI, and was recognised as a leader in managed detection and response services. Its cloud services are further strengthened by its consulting-led approach, which supports over 600 enterprises, making it one of the top cloud computing companies in India.

3. Wipro Ltd.

Focused on development and aimed to offer strong technological support, Wipro has positioned itself as not just an innovator but also an incubator of new ideas. Being one of the best cloud computing sector stocks, it launched the Global Wipro Innovation Network in 2025. It brings together clients, partners, and academia to co-innovate in areas like agentic AI, quantum computing, and cloud.

Following the same, the company restructured its business lines to sharpen its focus on cloud, AI, and digital services, aligning more closely with evolving client needs. The company’s FullStride Cloud division recently unveiled a cloud car prototype. It is an AI-driven, software-defined vehicle platform that uses cloud-native for performance and reliability.

As a masterstroke, Wipro secured a multi-million dollar deal with Etihad Airways to transform the airline’s technology framework, further strengthening its cloud order pipeline. Its ongoing investments in next-gen technologies position it as a trusted partner for enterprises navigating digital transformation.

4. Tech Mahindra Limited

When you consider cloud services with a future-centric approach, then Tech Mahindra is definitely a name that you should consider. Considered to be one of the top cloud computing stocks in India, it focuses on multi-cloud and hybrid deployments. This helps enterprises modernise infrastructure, optimise costs, and ensure compliance.

Aiming to serve the best, it expanded its long-term partnership with Google Cloud to accelerate enterprise-wide adoption of AI-powered cloud solutions in 2025. This collaboration brings together Tech Mahindra’s domain expertise and Google Cloud’s Gemini models and agentic AI, delivering tailored solutions for multiple sectors. The company has invested in talent upskilling, with over 2,000 Google Cloud-certified professionals and 10,000+ engineers trained globally.

5. LTIMindtree Ltd.

If you are looking to invest in promising and the best cloud computing stocks in India, then this might be the best deal for you. LTIMindtree is named Google Cloud’s 2025 Industry Solutions Partner of the Year for Manufacturing, reflecting its leadership in cloud modernisation and industry impact.

In May 2025, LTIMindtree partnered with Aramco Digital to launch NextEra in Saudi Arabia, focusing on AI, automation, and cloud services to accelerate digital transformation in the Middle East. The company was positioned as a Leader in ISG’s Provider Lens for Oracle Cloud and Technology Ecosystem 2024 and as a Visionary in the 2024 Gartner Magic Quadrant for Cloud ERP Services. 

LTIMindtree reported 5.6% YoY revenue growth in constant currency in Q3 FY25, reflecting strong momentum in cloud and digital transformation deals. LTIMindtree’s vision emphasises multi-cloud and hybrid deployments. Their approach is to make cloud adoption a deliberate, strategic design rather than an afterthought for better ROI.

6. HCL Technologies Ltd.

HCLTech is strengthening its position as a global cloud leader through innovation, partnerships, and AI integration. In 2025, HCLTech earned three new Google Cloud specialisations for generative AI services, cloud migration, and infrastructure modernisation. This highlights its expertise in helping enterprises securely move to the cloud and leverage AI for business impact.

According to HCLTech’s 2025 Cloud Evolution report, 87% of enterprises now use multiple cloud providers, with 73% refactoring applications for cloud-native modernisation. To support this growth, HCLTech is investing in talent and infrastructure, opening a new 5,000-person delivery centre in Hyderabad.

Additionally, HCLTech and Microsoft expanded their alliance to deliver generative AI and cloud-based solutions for modernising global contact centres. All these signals toward one aspect, which is HCL being a leader in the next wave of enterprise cloud transformation.

7. Oracle Financial Services Software Limited (OFSS)

When considering the best cloud computing stocks for long term, then OFSS should definitely be one of the picks for you. In May 2025, OFSS launched Oracle Banking Retail Lending Servicing Cloud Service and Oracle Banking Collections Cloud Service on Oracle Cloud Infrastructure (OCI). This enables banks to modernise lending and collections with automation and enhanced borrower experiences. 

It also announced a US$6.5 billion investment to establish a new public cloud region in Malaysia. It is also investing $5 billion over five years to expand its UK cloud infrastructure, supporting the UK government’s AI-driven vision. 

In India, Oracle is expanding cloud regions to address local data residency and digital innovation needs, while also investing in AI skills training for the workforce. These moves position OFSS and Oracle as leaders in delivering secure, scalable, and AI-powered cloud services for financial institutions in key global markets.

8. Coforge Ltd

Though it is one of the upcoming cloud computing companies in India, it is rapidly expanding its operations in the field of AI and ServiceNow capabilities through strategic acquisitions and partnerships. In early 2025, Coforge acquired Australian cloud consultancy TMLabs for ₹110 crore to strengthen its expertise in ServiceNow modules such as integrated risk management, healthcare, and HR service delivery.

This move follows another acquisition aimed at boosting cloud services, driving Coforge shares up by 8%. Coforge also proposed amalgamation with Cigniti Technologies, further enhancing its digital and cloud portfolio. 

The company’s mission emphasises client-centricity, innovation, and sustainability, aiming for 30% cloud revenue growth by 2025 and carbon neutrality by 2030. 

9. L&T Technology Services Ltd.

L&T Technology Services (L&T Tech), a subsidiary of Larsen & Toubro, ended FY2025 on a strong note. It is strengthening its position in digital engineering and mobility solutions. 

In April 2025, LTTS secured a €50 million deal with a major European automaker to develop a next-generation software platform. It included the development of advanced driver assistance and unified automotive cloud architectures.

The company’s expertise in EV, ADAS, and digital ecosystems positions it as a key player in future mobility. Additionally, L&T is acquiring a 21% stake in cloud services provider E2E Networks for ₹140.7 crore, expanding its cloud and AI capabilities. All these point towards a strong future for the company.

10. Redington Ltd.

Redington Ltd. is a leading global technology solutions provider which has delivered record-breaking results for FY25. It is ramping up investments in cloud and AI to drive future growth, with cloud services now contributing 4–5% of revenue and technology solutions about 30%. 

The company is focused on expanding its cloud marketplace, simplifying cloud security through partnerships like Banyan Cloud, and showcasing innovations in cybersecurity at global events. Strong cloud demand drove a surge in quarterly profits. 

Redington’s strategy centres on value-added cloud, digital, and AI services, targeting growth in India, the Middle East, and Africa. Here, it transforms its marketplace amid the ongoing cloud and AI boom.

Key Factors to Consider Before Investing in Cloud Computing Stocks

Opening a demat and trading account is the first step when you are planning to invest in stocks. But apart from these, there are certain key factors that you should look into to ensure that you make the right investment decision. So, here are some of the key points that you must ensure checking into:

1. Government Policies and Incentives

Government initiatives like Digital India, Startup India, and Make in India are accelerating cloud adoption. Data localisation mandates, cloud-first government strategies, and the upcoming Personal Data Protection Bill are driving demand for secure, compliant cloud services across public and private sectors, creating a strong regulatory tailwind for the industry. 

2. Technology Leadership and AI Integration

Major investments by tech giants such as Microsoft, Google, and AWS are fueling AI and cloud innovation in India. Microsoft’s new data centres and Google’s $10 billion digitisation fund are enhancing local capabilities, while AI, big data, and advanced SaaS offerings are becoming mainstream for Indian enterprises.

3. Financial Strength and Capital Allocation

Building and expanding data centres requires substantial investment. Global and domestic players are pouring billions into Indian cloud infrastructure, ensuring scalability and resilience. Companies with strong balance sheets and ongoing capital commitments are best positioned to capture market share and weather sector volatility.

4. Customer Base and Industry Penetration

Cloud adoption is strong across BFSI, IT, e-commerce, manufacturing, and government sectors. SaaS leads with over 70% revenue share in 2024, and enterprises of all sizes are migrating workloads to the cloud, ensuring recurring revenues and diversified client portfolios for leading providers.

5. Sector-wide Risks and Competition

Intense competition from global hyperscalers and local providers, evolving regulations, and cyber threats pose ongoing risks. Companies must continuously invest in security, compliance, and innovation to stay ahead. Regulatory changes, especially around data privacy, can impact operations and profitability in this fast-evolving sector.

Final Thoughts

Cloud Computing is driving India’s digital future, impacting everything from finance to everyday tech. With rising demand and strong government backing, the best cloud computing stocks in India offer a smart mix of growth and stability. 

For investors looking to stay ahead, this sector presents a timely opportunity. Start your journey with Share.Market, where you can explore and invest in the top cloud computing stocks in India with ease and confidence.

FAQs

Disclaimer and Disclosure 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Registration granted by SEBI, enlistment as Research Analyst with Exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Kindly refer to  https://share.market/ for more details.Investments in WealthBaskets are subject to the Terms of Service. All investors are advised to conduct their own independent research into investment strategies before making an investment decision. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. PPWB acts as a distributor of mutual funds and it is not an exchange traded product. PPWB acts as a distributor of mutual funds and WealthBaskets and it is not an exchange traded product. Disputes with respect to the distribution activity of Mutual Funds and WealthBaskets will not have access to Exchange investor redressal or Arbitration mechanism. The securities are quoted as an example and not as a recommendation. This is for informational purposes and should not be considered as recommendations.

PhonePe Wealth Broking Private Limited is a member of NSE & BSE with SEBI Regn. No.: INZ000302639, Depository Participant of CDSL Depository with SEBI Regn. No.: IN-DP-696-2022, Research Analyst with SEBI Regn No: INH000013387, BSE RA Enlistment Number: 5887 and Mutual Fund distributor with AMFI Registration No: ARN- 187821. Member ID: BSE- 6756, NSE- 90226. Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA. CIN: U65990KA2021PTC146954