In May 2020, Prime Minister Narendra Modi announced the Aatmanirbhar Bharat Abhiyaan, a mission to boost India’s presence in the world’s supply chains, helping it reduce reliance on exports and boost domestic manufacturing. This was during a speech for an economic stimulus plan during the height of the pandemic.
Under the Aatmanirbhar Bharat Abhiyaan, India encouraged Research and Development of technologies, products, components and systems that were usually bought in from abroad. The intention has been to make India one of the leading innovators in the world, even as we haven’t been able to fulfil our potential.
In 2020, India had already broken into the top 50 of the Global Innovation Index 2025, ranking 48th. In 2025, we are at 38. During the same time, China moved from the 14th to the 10th position.
The Aatmanirbhar Bharat Abhiyaan aimed to boost India’s innovative minds, to reduce reliance on foreign technology, and encourage investments in R&D, both in the public and private sectors. In 2020, India spent Rs.1.2 lakh crore on R&D, and by 2025, this is estimated to reach Rs. 20,000 crore.
In the five years since, a handful of Indian companies have shown what it means to develop technologies indigenously, through grit, determination and hard work.
PTC Industries
This name usually doesn’t ring a bell, unless you are a seasoned stock market investor. As a 60-year-old company, PTC Industries has, over the years, become one of the leading engineering and metallurgical companies from India, and continues to do so. It is one of the few companies with the skills and capabilities to produce aerospace-grade alloys and metals, those used by the likes of ISRO, DRDO, SpaceX and others. Domestic defence and aerospace OEMs depend on it for its specialist expertise in metallurgy and precision engineering, especially as it manufactures aerospace-grade superalloy metals for space programs used by the likes of ISRO and Jeff Bezos-backed Blue Origin.
The Lucknow-based company exports over 75% of its products abroad, to marquee clients including Rolls-Royce, Dassault Aviation, Honeywell and BAE Systems.
Mazgaon Dock
Mazgaon Dock Shipbuilders, India’s oldest and most prominent shipbuilding PSU, has proved itself more than just a Navratna for India’s defence forces. Through consistent R&D and partnerships with leading global OEMs, the company has been developing a large chunk of high-value ships for the Navy and Coast Guard. This includes advanced stealth destroyers like the recently inducted, AI-enabled INS Surat, Scorpene-class submarines, stealth frigates and much more.
Overall, Mazgaon Dock has delivered almost 800 vessels, including 30 warships and submarines, mostly with indigenously developed technology and skills. The company is known for its adherence to deadlines and has recently expanded internationally as well. At a time when the commercial shipbuilding market is dominated by China, South Korea and Taiwan, Mazgaon Dock has been at the forefront of innovation and research, being India’s most reliable and reputed shipbuilder. Currently, Mazgaon Dock remains India’s crown jewel in the shipbuilding industry, defining Aatmanirbhar Bharat even before PM Modi popularised it.
Bajaj Auto
Founded as a two-wheeler dealer in 1945, Bajaj Auto has expanded its reach to become the world’s largest three-wheeler producer and the largest two-wheeler manufacturer by volume. The company’s two- and three-wheelers have become ubiquitous in India and Africa, despite intense competition from domestic and foreign firms. Over the years, Bajaj Auto’s investments in R&D have revolutionised the two-wheeler market, with iconic brands like the Pulsar and Boxer that aimed at meeting practical requirements. Though it started as a joint venture with a foreign player, Bajaj Auto has developed its skills to become Aatmanirbhar in its technology, first with conventional ICE bikes and now with new-age electric two-wheelers.
Zen Technologies
At a time when support for startups was nonexistent, 3 professionals aimed to offer the armed forces state of the art combat training stimulators. At that time, in 1993, most of such equipment was imported, and Zen Technologies had a hard time convincing the military to give them a chance.
Fast forward to 2026, Zen Technologies remains an integral part of India’s defence manufacturing industry, with its wide portfolio of state-of-the-art combat training solutions offering solutions that meet the military’s needs. Over the years, Zen Technologies has filed over 170 patents, and has managed to win contracts in India and abroad on its merit, persistence and competitiveness. A true example of Aatmanirbharta despite scepticism and red tape.
Tata Motors
As India’s biggest homegrown automaker, Tata Motors has seen its share of hits and misses. Its cars rival those of Japanese or South Korean carmakers’ quality, and it has been exporting its products since the 1960s. In 1998, it launched the Tata Indica, India’s first indigenously developed passenger car, which became an icon in its own right. Though this was years before Narendra Modi even became Gujarat CM. Today, the carmaker is the Baazigar of the auto industry, moving from oblivion to the top 3, mostly on the back of innovation, strong sales, and its forward-thinking investments into EVs.
Ather Energy
If there is one company that personifies indigenousation in the 21st century India, it is Ather Energy. Founded by IIT Madras alumni, Ather Energy’s consistent focus on quality and a feature-rich portfolio helped it steadily climb to the top of India’s EV market share for two-wheelers. Funded and endorsed by IIT Madras and venture capitalists, Ather Energy’s electric scooters launched just when the EV boom commenced, despite initial losses. With almost all of its components being made locally, this recently listed two-wheeler company remains a poster boy of Aatmanirbharta.
Wockhardt
Staying under the shadows for quite some time, Wockhardt has been thrust into the limelight for doing something that no pharma company in India has ever done before- discovered a new drug molecule. On September 30, 2025, the USFDA approved the company’s Zaynich drug, paving the way for eventual commercialisation amid an increasingly worrying trend: antibiotic resistance.
The company has seen its fortunes see-saw over the years, even being forced to sell parts of it to pay back its debts. Yet, the company’s consistent focus on R&D helped it become the poster boy for India’s pharma industry, which is known to manufacture low-cost drugs, but not innovate for newer therapies.
BrahMos Aerospace
This Joint Venture with Russia has helped India join a select club of nations capable of developing supersonic cruise missiles. Initially about 35% of its components came from abroad, but gradually, just about 15% of its components will need to be imported. The lethal missiles are known to travel at speeds of Mach 2.8 (nearly 3x the speed of sound) with low radar visibility. They were used for the first time during Operation Sindoor and have recently been exported as well.
Zoho
Though India has been exporting IT services for years now, there hasn’t been a highly familiar brand like Microsoft, Facebook or Salesforce. US returned Sridhar Vembu aimed to change that with his unconventional approach towards IT development. By training rural talent, Sridhar has carved a niche suite of productivity tools that are “Made in India, Made for the World”, including Zoho CRM, Books, Projects, Desk and Mail for all office operations. The company’s focus on small and medium businesses (SMBs) in India and abroad has helped it gain a significant market share despite the money and operational power of global competitors.
Tata Consultancy Services
As India’s largest IT services firm, TCS has been the poster boy of the outsourcing market. But the company’s market cap of over $200 billion hasn’t come from creating customized software alone. The company’s BaNCS software is used by over 200 financial institutions worldwide, processing millions of transactions every day. Besides that, TCS OmniStore platform is used by leading global retailers to manage inventories and operations. Overall, about 15% of the company’s total revenues come from these SaaS platforms, showing how well integrated Indian software is in the global markets.
