Top Metaverse Stocks in India

The metaverse is no longer science fiction; it has turned into a business opportunity with Indian companies already laying the groundwork. From virtual reality gaming to digital showrooms and 3D meetings, metaverse technology has penetrated every field. Big players like Reliance, TCS, and Tech Mahindra are investing in immersive tech, while niche companies like Nazara are capitalising on gaming and entertainment. As India ramps up digital infrastructure and 5G, the demand for virtual experiences is only expected to grow.

So, if you’re questioning “should I invest in metaverse stocks” or trying to spot early winners in India’s tech future, this article is for you. We will break down the top metaverse stocks in India and what to look for before you invest.

An Overview of the Metaverse Sector in India 

India’s metaverse ecosystem is taking shape rapidly. In 2024, the sector was valued at approximately USD 4.33 billion, and forecasts expect it to hit USD 75.4 billion by 2033, growing at a CAGR of roughly 37%. This growth is fuelled by the country’s digital acceleration and enthusiasm for immersive tech across gaming, education, retail, and healthcare.

The gaming vertical is a key growth engine of this sector. The Indian metaverse gaming segment is projected to grow at a 40.1% CAGR from 2024 to 2029.  Additionally, e-commerce and virtual retail verticals are also evolving, with demand for metaverse-powered shopping rising. By 2030, India’s metaverse e-commerce market is expected to reach USD 2.36 billion, growing annually at about 40.8% from 2024. This reflects a broader push toward immersive online engagement.

The overall growth of this sector can also be attributed to affordable smartphones, increasing 5G availability, and falling AR/VR device costs are driving adoption, making India a prime market for metaverse innovation.

List of Top Metaverse Stocks in India

The table shows the top metaverse stocks in India with their market capitalisation. 

Overview of Top Metaverse Companies in India 

Here is an overview of the top 7 listed metaverse stocks. 

1. Reliance Industries (Jio Platforms)

Mukesh Ambani’s conglomerate Jio Platforms is one of the top metaverse sector stocks, which is aggressively moving into immersive tech. Backed by Reliance Industries, Jio is building a full-stack ecosystem that includes connectivity, content, platforms, and distribution, all essential components of the metaverse. 

In Q4 FY25, Jio Platforms delivered a standout performance in its digital services segment, reporting a 17.6% YoY revenue growth, driven heavily by soaring user engagement and a strategic push into digital-commerce offerings. Jio is collaborating with OpenAI and Meta to introduce AI chatbot avatars, language assistance, and smart virtual assistants across service, content, and e-commerce verticals, anchored by a planned 3 GW AI data centre in Gujarat. A key aspect of these talks involves hosting AI models locally, ensuring data remains within India and complies with evolving data sovereignty norms.

Additionally, in January 2025, Jio Platforms announced JioCoin, a proposed cryptocurrency built on blockchain technology in collaboration with Polygon Labs. The initiative marks a significant step in Jio’s expansion into Web3, digital payments, and the infrastructure powering the metaverse.

2. TCS

Tata Consultancy Services is one of the best metaverse stocks for long term. The company publishes research and solution frameworks (TCS PACE) for XR and the Metaverse, offering clients virtual showrooms, digital twins, and immersive training. TCS notes it is “getting clients on board the Metaverse universe” with “compact and sophisticated XR solutions”. 

As part of its future roadmap, TCS is doubling down on AI-driven immersive experiences. In mid‑2025, Chairman N. Chandrasekaran highlighted a strategic pivot toward a “human + AI” model, explaining that the company is developing a large pool of AI agents working alongside our human workforce, signalling its commitment to integrating autonomous AI agents in enterprise operations. 

He outlined further steps, including investing in AI data centres, upgrading cloud infrastructure, and fostering strategic partnerships to build this capability. In June 2025, TCS and NVIDIA teamed up to deliver AI-native digital twins and agentic AI solutions for telecoms using NVIDIA DGX Cloud and Large Telco Models (LTMs). This initiative enables real-time network simulation and autonomous issue resolution, powering smarter planning and operations. 

TCS’s agentic AI tools streamline telecom workflows like fault detection, remediation, and network optimisation. NVIDIA’s Aerial Omniverse platform further enhances 3D modelling for radio access networks, enabling immersive, data-driven simulations. The collaboration places TCS at the forefront of building metaverse-aligned, AI‑powered telecom infrastructure and positions TCS as one of the top metaverse stocks in India. 

3. Bharti Airtel 

As a major telecom, Airtel’s metaverse role is as an enabler. Airtel has already experimented with consumer XR. In 2022, it launched a “metaverse multiplex” on the Partynite platform, letting users watch previews of Xstream OTT content in a virtual cinema environment. More significantly, Airtel is partnering to build industrial metaverse applications. 

In 2025, Airtel advanced into enterprise-grade metaverse applications. In collaboration with Ericsson and Volvo Group, it launched pilots for XR-powered factory training and industrial simulations using its 5G Advanced network. 

These applications focus on creating real-time augmented and virtual reality environments for upskilling workers, testing production lines, and reducing operational risks, making it a part of the emerging industrial metaverse trend. The partnership marked one of India’s first large-scale deployments of immersive technology in automotive manufacturing and demonstrates how telcos like Airtel are evolving into XR infrastructure partners.

Complementing its 5G network, Airtel’s data centre arm, Nxtra, now runs 120+ edge data centres across 65+ cities as of June 2025, enabling ultra-low latency for AR/VR, cloud gaming, and immersive content. Nxtra is also deploying AI-powered systems like SmartSense to boost real-time maintenance, energy efficiency, and operational performance, strengthening its infrastructure for next-gen digital experiences.

4. Infosys

Infosys is making bold strides in the immersive tech space through its dedicated Metaverse Foundry, a comprehensive platform designed to help enterprises rapidly build virtual environments using ready-to-deploy templates and advanced tech stacks. From virtual retail stores and training labs to interactive product showcases, the Foundry integrates AR/VR, blockchain, 5G, and IoT to deliver scalable, enterprise-grade experiences. These capabilities are supported by living labs and maker spaces embedded within Infosys’ global innovation hubs, where the company continuously invests in XR toolchains and digital twin technology to accelerate innovation.

The Metaverse Foundry empowers brands to embed NFTs, create avatar-driven interfaces, and visualise real-time data in 3D simulations, enabling more immersive, personalised, and interactive user experiences. Actively promoting metaverse adoption across industries such as retail and manufacturing, Infosys positions the Foundry not just as a platform but as a strategic accelerator for clients embracing Web3 and spatial computing.

In May 2025, Infosys expanded its ecosystem further with the launch of the Agentic AI Foundry, part of its Topaz™ suite. This initiative enables the design and deployment of autonomous AI agents that support functions like customer service, IT operations, and business analytics. 

By the end of May, over 200 enterprise-grade AI agents, built in collaboration with Google Cloud’s Vertex AI, had already been deployed across sectors including telecom, healthcare, manufacturing, and retail, marking a significant step toward Infosys’ vision of intelligent, immersive enterprise transformation. All these help Infosys bag its position in the list of the best metaverse companies in India.

5. HCL Technologies

Founded as a tech start-up in 1976, today HCLTech is an established company in India. It has created “HCLTech Metafinity”, a metaverse platform using Adobe Experience Cloud, to help enterprise customers build virtual brand experiences. Metafinity enables the creation of AR/VR worlds, NFTs, and 3D content (for marketing, training, etc.) and targets sectors like retail, manufacturing, and telecom.

It integrates AR/VR/MR with cloud and blockchain to create immersive customer and employee experiences. HCL is leveraging this platform in pilot projects such as virtual showrooms or digital twins. This positions Metafinity as a toolkit to “deliver metaverse solutions” for clients.

Alongside this, HCL is investing heavily in the industrial metaverse. In April 2025, it partnered with NVIDIA to integrate Omniverse into its SmartTwin platform and NVIDIA AI Enterprise into its GenAI stack, AI Force. These tools support high-fidelity simulations, AI-driven workflows, and immersive product engineering. HCL showcased these innovations at GTC 2025, where it also launched AI Force microservices using models like NeMo and Llama.

Also, HCLTech’s AI Labs undertook over 500 GenAI projects with 400+ clients in FY25, while also training more than 100,000 users and 4,000 developers in AI and generative technologies. These milestones highlight the company’s strong internal expertise and growing leadership among metaverse stocks in India.

6. Tech Mahindra

Tech Mahindra, a leading Indian IT services and consulting company under the Mahindra Group, has consistently positioned itself at the forefront of digital transformation. It has a dedicated metaverse practice called “TechMVerse”, which was launched in 2022. TechMVerse offers design services and solutions around VR showrooms, virtual events, and NFTs. Additionally, Tech Mahindra has built prototype virtual car dealerships, NFT marketplaces, and a “virtual bank” demo to showcase its capabilities. It also trains about 1,000 engineers in AR/VR and 5G. 

The company is also integrating AI, blockchain, and AR/VR to create end-to-end metaverse scenarios: users might enter a branded 3D environment on a headset, interact with products as NFTs, and conduct transactions. Early clients include auto, telecom, and retail firms. TechMVerse projects (India & abroad) underline the company’s strategy to offer holistic Metaverse solutions.

In April 2025, Tech Mahindra announced a strategic alliance with CrateDB during Hannover Messe 2025 to develop next-generation agentic AI solutions. Focused on the automotive, manufacturing, and smart factory sectors, the partnership aims to unlock real-time data intelligence for use cases like digital twins, immersive simulations, and XR-driven factory environments. This collaboration marks another step in Tech Mahindra’s vision to integrate AI, IoT, and extended reality into enterprise-scale metaverse platforms.

7. Nazara  Technologies

Nazara is an Indian gaming & eSports company, strategically extending into the Metaverse via acquisitions and Web3. The company has raised a ₹100 Cr M&A war chest to acquire gaming IPs, such as the UK’s Curve Games for PC/console gaming, and plans to launch 20 new games, including mobile, Web3, VR, and PC, in 12–18 months. 

In addition, Nazara made a bold metaverse move in June 2025 by launching Pokerverse VR, a free-to-play, real-time multiplayer poker experience for Meta Quest and Apple Vision Pro, developed by Hyderabad-based YesGnome and published under Nazara Publishing. The game features gesture-based VR controls, AR/VR switching, solo AI modes, progression mechanics, and daily rewards.

The company’s CEO has explicitly identified AR/VR and blockchain-driven “play-to-earn” models as key to future growth. The company also backs Web3 initiatives like the Circle of Games blockchain-based app for the MENA region, underscoring its push into immersive and decentralised gaming spaces.

In FY25, Nazara delivered a record performance with annual revenue of ₹1,623.9 crore and EBITDA of ₹153.5 crore, marking significant year-over-year growth fueled by its immersive gaming and publishing segments. This strong financial foundation has led to Nazara being a part of the top metaverse stocks for investment in India.

Things to Consider While Investing in Metaverse Companies 

The metaverse offers a real opportunity, but investing demands discernment. Look for strong earnings, clear product roadmaps, scalable tech, and infrastructure alignment. 

1. Key Use-Cases & Monetisation Paths

The metaverse economy in India is taking shape, especially across gaming and virtual commerce. Gaming, the most mature metaverse use-case, is projected to hit USD 0.9 billion in 2025, expanding to USD 5.2 billion by 2030 with a 40.5% CAGR. Virtual commerce is also gaining steam, expected to reach USD 1.2 billion in 2025 and USD 6.9 billion by 2030 with a 41% CAGR. 

This means revenue could come from gaming, virtual retail, brand activations, and event hosting. Investors must assess if companies have clear monetisation strategies in these spaces.

2. Technology & Infrastructure Readiness

5G availability, rising smartphone penetration, and affordability of AR/VR devices are laying the groundwork for metaverse adoption. For example, a 44.8% AR/VR user penetration is estimated in 2025, rising to 51.2% by 2029, with 770 million devices in use. Such infrastructure signals readiness for immersive usage, but infrastructure gaps remain in rural areas.

3. Regulatory and Privacy Concerns

The metaverse raises unique legal and ethical challenges. Privacy, data security, content moderation, and digital asset regulation are still evolving. There’s also no clear global standard for virtual asset ownership or interoperability. Any abrupt policy changes, especially around NFTs or blockchain elements, can significantly affect business models and operations.

4. Risk vs. Tech Innovation Balance

The metaverse remains early-stage tech; it’s risky and speculative. Hardware costs are falling, but platforms still require significant R&D and trial-and-error testing. Software and service-led business models (enterprise VR, developer platforms) tend to scale faster and more reliably than hardware-heavy ones. An investor should look for companies with diversified revenue streams, clear tech roadmaps, and fiscal discipline.

Conclusion 

The metaverse is rapidly transitioning from a concept to reality. From gaming and virtual commerce to enterprise VR and 5 G-fuelled experiences, the foundations are already being built. With big players and startups alike investing in immersive tech, the sector is gearing up for strong, long-term growth.

If you’re a first-time investor eyeing the digital future, the metaverse space offers opportunity, but it also needs caution and long-term thinking. Start exploring metaverse stocks and build your portfolio on Share.Market.

FAQs 

1. Is the Metaverse Sector Good for Investment in 2025?

In 2025, the metaverse sector is gaining momentum, with rising investments in AR/VR, 5G, and digital commerce. Companies like Reliance, TCS, and Infosys are exploring this space. While growth potential exists, it’s still early. Ideal for investors looking for future-focused exposure with a long-term horizon.

2. What are the Risks of Investing in Metaverse Stocks?

Like any other stock investments, top metaverse sector companies in India carry certain risks. The sector is still evolving, and valuations can be volatile. Tech changes, regulatory hurdles, and consumer adoption impact growth. It’s crucial to track fundamentals, not just hype. Long-term investors with higher risk tolerance may benefit more than short-term traders.

3. Should I Invest in Metaverse Stocks?

If you’re an investor with a long-term view, metaverse stocks could be worth considering. They offer exposure to virtual tech, gaming, and immersive commerce. However, invest only a small portion of your portfolio, diversify well, and monitor the space regularly to manage risk.

4. What Are the Best Performing Metaverse Stocks in India?

Some Indian companies gaining ground in the metaverse space include Reliance Industries (JioVerse), TCS (digital twin solutions), and Infosys (immersive commerce). These firms are integrating AR/VR and enterprise applications into their offerings. Performance varies, so track earnings, R&D spend, and tech rollouts before investing.

5. What Is the Future of the Metaverse Sector in India?

India’s digital infrastructure, young population, and high smartphone penetration give the metaverse strong long-term potential. Government support for 5G and digital initiatives is a plus. While adoption is at an early stage, industry reports suggest steady growth through 2030, especially in gaming, retail, and virtual events.

6. What Sectors are Integrating the Metaverse First?

Gaming, telecom, e-commerce, and enterprise tech are leading the adoption. Companies are using AR/VR for customer engagement, virtual meetings, and training. Media, education, and healthcare are also exploring immersive platforms. These sectors have shown the earliest signs of real-world use cases and monetisation.

7. How to Invest in Metaverse Stocks?

To invest in metaverse stocks, you first need a demat account from a SEBI-registered broker such as Share.Market. Once done, you need to research the stocks in this sector and compare them with the peers for fundamentals to make a decision.

Disclaimer: Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Registration granted by SEBI, enlistment as a Research Analyst with the Exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. The securities are quoted as an example and not as a recommendation.

This is for informational purposes and should not be considered as recommendations. Kindly refer to  https://share.market/ for more details. PhonePe Wealth Broking Private Limited, Research Analyst with SEBI Regn No: INH000013387, BSE RA Enlistment Number: 5887.