Magnificent 8 of India – High-growth tech stocks in India to watch

Published date: 15th July 2025 | Author: Kevin Carter, CIO | EMQQ Global

The promise of India’s tech sector – a potential goldmine for investors

India’s tech sector is undergoing remarkable expansion, driven by a youthful, tech-savvy population, rapid urbanisation, and increasing internet penetration. This vibrant, consumer-focused environment is fostering fertile ground for innovative companies and entrepreneurs to flourish. This too is presenting an attractive opportunity for investors targeting Indian tech stocks. As of mid-2024, there are more than 650 million smartphone users, with internet users surging to over 950 million, underscoring the sector’s vast potential.

Thanks to robust government support through initiatives like Digital India and Startup India, tech startups are also thriving, highlighting a further likelihood for IPOs coming down the pike. The market’s expansive and dynamic nature amplifies the potential for substantial returns, particularly within India’s tech sector.

For investors looking to diversify their portfolios, we believe that the emerging markets internet sector holds promise. India, in particular, may serve as a safe haven in the storm. The “Magnificent 8” of India showcases a handful of high-growth tech stocks transforming various industries across the nation. These companies are at the forefront of innovation, offering unique products and services that cater to the evolving needs of the Indian market.

“These tech stocks provide a comprehensive view of the opportunities available in India’s tech sector.”

✈️ MakeMyTrip: Revolutionising travel and tourism

MakeMyTrip is a leading online travel company that has redefined the way Indians plan and book their travel. It offers a wide range of services, including flight bookings, hotel reservations, and holiday packages. MakeMyTrip dominates India’s online travel agency market with a share of over 50%. It boasts roughly 82 million monthly active users. In its most recent quarter, it grew revenues by 25%.

The company’s strong brand presence and user-friendly platform make it a go-to choice for travellers. With the increasing disposable income and a growing middle class in India, MakeMyTrip is well-positioned to capitalise on the booming travel industry.

Info Edge: A powerhouse of online classifieds and recruitment

Info Edge is a dominant player in India’s online classifieds and recruitment space. It owns popular platforms such as Naukri.com, 99acres.com, and Jeevansathi.com, which cater to job seekers, real estate buyers, and matrimonial services, respectively. Info Edge’s online recruitment site attracts over 27 million monthly active users. In its most recent quarter, the company grew sales by 15%.

The company’s diverse portfolio and strong market presence make it a compelling investment choice. Info Edge’s continued innovation and expansion into new verticals ensure sustained growth and profitability.

🍎 Eternal (Zomato, HyperPure, Blinkit): Transforming food and grocery delivery

Eternal’s portfolio includes Zomato, a leading food delivery platform; HyperPure, a B2B marketplace for restaurant supplies; and Blinkit, a fast-growing grocery delivery service. These companies are revolutionising the food and grocery delivery landscape in India, leveraging technology to provide seamless and efficient services.

Eternal’s Zomato maintains 80 million monthly active users. In its most recent quarter, the company grew revenues by 64%, driven by its fast-growing quick commerce unit. The growing demand for convenient and quick delivery options makes Eternal a promising investment in the tech sector.

🔏 PolicyBazaar: Disrupting insurance with technology

PolicyBazaar is an online insurance aggregator that simplifies the process of comparing and buying insurance policies. It offers a wide range of products, including health, life, and motor insurance. PolicyBazaar has a commanding 90% market share and boasts 87 million registered users. The company grew sales by 48% in its most recent quarter.

The platform’s user-friendly interface and extensive product offerings make it a preferred choice for insurance buyers. As more Indians become aware of the importance of insurance, PolicyBazaar is poised for significant growth.

📱 PAYTM: Leading the digital payments revolution

PAYTM is a pioneer in India’s digital payments space, offering a comprehensive suite of financial services, including mobile payments, banking, and e-commerce.

PAYTM helped popularise the use of QR codes and the United Payments Interface (UPI) in India. PAYTM has over 100 monthly active users and is one of the three largest digital payment processors in the country.

The company’s robust ecosystem and widespread adoption make it a leader in the fintech sector. With the increasing shift towards cashless transactions, PAYTM’s growth trajectory looks promising.

👠 Nykaa: Redefining beauty and fashion e-commerce

Nykaa is a leading beauty and fashion e-commerce platform that offers a wide range of products from top brands. The company’s seamless online shopping experience and strong focus on customer satisfaction have earned it a loyal customer base.

Nykaa has grown to serve over 30 million customers across India. In its most recent quarter, the company’s sales jumped 27%. Nykaa’s expansion into physical retail stores and its growing product portfolio position it well for continued growth in the beauty and fashion industry.

🛵 Zepto: Innovating ultra-fast grocery delivery

Zepto is an emerging player in the ultra-fast grocery delivery space, promising deliveries within minutes. The company’s innovative approach and efficient logistics network cater to the increasing demand for quick and convenient grocery shopping.

Zepto’s innovative business model has helped it scale to roughly 31 million in under four years. The company recently reported that its gross order value has quadrupled over the last year. With consumers seeking time-saving solutions, Zepto’s unique value proposition makes it a compelling investment opportunity.

🛒 Flipkart: Powering India’s e-commerce boom

Flipkart is one of India’s largest e-commerce platforms, offering a vast selection of products across categories like electronics, fashion, and home essentials. It has played a pivotal role in shaping the online shopping landscape in India. Flipkart’s annual “Big Billion Dollar Days” helped spark online shopping in India. The company has over 180 million active users and has a commanding 48% share of India’s e-commerce market.

With a strong logistics network, innovative technology solutions, and a customer-first approach, Flipkart continues to lead in one of the world’s fastest-growing e-commerce markets. As internet penetration and digital adoption accelerate, Flipkart is well-positioned to capture the next wave of India’s consumer growth.

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Magnificent 8 of India – High-growth tech stocks in India to watch

﻿ “These tech stocks provide a comprehensive view of the opportunities available in India’s tech sector.”

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“These tech stocks provide a comprehensive view of the opportunities available in India’s tech sector.”