India is undergoing a technological revolution, with third-generation technology companies leading the charge. These companies are not just building software or offering services—they are creating ecosystems that drive economic growth, job creation and industrial transformation. Unlike previous generations that focused on outsourcing and software development, this new wave of companies is deeply involved in cutting-edge manufacturing, fintech solutions, embedded systems and semiconductor innovations.
These third-generation technology companies are no longer just service providers; they are innovation hubs fostering industrial revolutions, creating new job markets and strengthening the foundation of India’s digital economy.
But what makes these companies different and how exactly are they contributing to India’s rapid progress? Let’s explore.
What Are Third-Generation Technology Companies in India?
The evolution of India’s technology industry can be classified into three distinct phases:
- First Generation (1980s–2000s): Focused on IT services, outsourcing, and software development, positioning India as a global IT hub.
- Second Generation (2000s–2010s): Emergence of startups, e-commerce, digital payments and cloud computing.
- Third Generation (2015–Present): Companies integrating deep tech, fintech, embedded systems, advanced manufacturing and semiconductor design into mainstream industries.
Unlike earlier phases, third-generation technology companies are not just service providers—they are innovation-driven, product-focused, and deeply involved in industrial transformation. Their impact spans multiple sectors, from financial services and embedded technology to high-tech manufacturing and semiconductor advancements.
How Third-Generation Technology Companies Are Contributing to India
1. Job Creation: Fueling Employment Across Sectors
One of the most significant contributions of third-generation technology companies is employment generation. With advancements in AI, automation and embedded systems, new roles are emerging in research, product development and system integration.
The semiconductor industry alone is expected to generate over 1 million direct and indirect jobs by 2030, as per the Ministry of Electronics and Information Technology. Similarly, fintech companies are creating new job opportunities in cybersecurity, digital banking and financial analytics.
With the rise of smart manufacturing and automation, India is also witnessing a demand for highly skilled professionals in robotics, IoT, and predictive maintenance technologies.
2. Industrial Revolution: Transforming Manufacturing & Embedded Systems
The manufacturing industry in India is undergoing a tech-driven revolution, with embedded systems and automation leading the way. Advanced robotics, IoT-enabled factories and AI-powered process optimization are making Indian manufacturing more efficient, reducing production costs and improving product quality.
The embedded systems market, crucial for industries like automotive, defense and consumer electronics, is expected to grow at a CAGR of 8.1% from 2025 to 2030. This growth is driving investment in semiconductor fabrication plants (fabs), electronic component production and automation technologies, pushing India towards self-reliance in manufacturing.
3. Fintech Expansion: Revolutionizing Digital Payments & Banking
The fintech sector has seen exponential growth, with digital payments, embedded finance and AI-powered lending platforms transforming financial services. India’s UPI (Unified Payments Interface) has already set global benchmarks, processing over 14 billion transactions monthly in 2025, according to NPCI.
Beyond payments, fintech companies are democratizing credit access, enabling businesses and consumers to obtain loans seamlessly through AI-driven risk assessment models. Embedded finance solutions are also becoming mainstream, allowing businesses to integrate financial services directly into their platforms, making transactions smoother and more accessible.
The future of fintech lies in blockchain-driven transparency, AI-based fraud detection and digital banking ecosystems, ensuring financial inclusion for millions.
4. Semiconductor & Electronics: Boosting India’s Self-Reliance
Semiconductors are the backbone of modern technology, powering everything from smartphones to industrial machinery. Recognizing the importance of semiconductor self-sufficiency, India is making massive investments in chip design, fabrication plants and semiconductor research centers.
By 2030, India’s semiconductor market is projected to reach $110 billion, reducing dependence on imports and strengthening the local electronics industry. The government’s Make in India and Production-Linked Incentive (PLI) schemes are further accelerating this growth, attracting global semiconductor manufacturers to set up plants in India.
In addition, advancements in embedded systems and microcontrollers are fueling innovation in consumer electronics, healthcare devices, and automotive technology, positioning India as a major player in the global electronics supply chain.
5. Digital & AI-Led Innovation: Transforming Everyday Life
India’s third-generation technology companies are not just advancing industries; they are shaping how individuals interact with technology. AI-driven chatbots, predictive analytics and cloud computing are transforming customer experiences in retail, healthcare and financial services.
AI and machine learning are playing a crucial role in predictive maintenance for industries, fraud detection in banking and personalized recommendations in e-commerce. Additionally, automation in public services, such as smart city initiatives and AI-based governance solutions, is improving efficiency and transparency.
The deep-tech ecosystem in India is also driving advancements in quantum computing, space technology and 5G-enabled communication, pushing the boundaries of innovation and global competitiveness.
Evolute Group: A Third-Generation Technology Powerhouse Driving India’s Growth
As India’s technological landscape evolves, third-generation companies are driving innovation across multiple industries, ensuring economic growth, digital transformation and industrial efficiency. Evolute Group, a leader in embedded systems, fintech, battery pack solutions, relays, turnkey manufacturing & supply chain services is at the forefront of this revolution. With multiple brands under its umbrella— Evolute Fintech Innovations Pvt. Ltd, Glomore Electro-Tech Solutions LLP, Leone Relays and EvoFlex —the group is shaping India’s future across critical sectors.
Each of these companies plays a distinct yet interconnected role, addressing India’s need for smarter, more efficient technology solutions. Let’s explore how these brands are making a lasting impact.
Evolute Group: Advancing Embedded Systems for a Smarter Future
Evolute Group, as a standalone entity, specializes in cutting-edge embedded systems, catering to industries like industrial automation, medical devices, automotive electronics and smart infrastructure. Embedded technology is the backbone of modern digital transformation and Evolute’s innovations are ensuring efficiency, security and real-time processing capabilities in various applications.
- Embedded systems market in India is expected to grow at a CAGR of 10.3% by 2025, according to a Frost & Sullivan report, driven by demand in IoT, AI-powered automation and smart devices.
- Evolute’s custom-designed embedded solutions power mission-critical applications, enhancing operational accuracy, energy efficiency, and performance optimization.
- With India’s push towards self-reliance in electronics manufacturing, embedded systems are crucial for reducing dependence on imports and fostering domestic R&D-driven production.
By developing scalable, intelligent and future-ready embedded solutions, Evolute Group is contributing to India’s industrial and technological advancements at a foundational level.
Evolute Fintech: Empowering Digital Payments & Financial Inclusion
Evolute Fintech is a leader in fintech innovation, providing secure, high-performance payment solutions that bridge the gap between businesses and digital transactions. From Android POS machines to biometric authentication and UPI-enabled devices, Evolute Fintech is driving financial inclusion and cashless transactions across India.
- India’s digital payment ecosystem is projected to reach $10 trillion by 2026, with solutions like secure POS machines and biometric authentication playing a crucial role in preventing fraud and ensuring seamless transactions.
- A 2025 NPCI report highlights that UPI transactions in rural and semi-urban areas have increased by 55%, thanks to user-friendly fintech solutions like Evolute’s payment devices.
- The integration of biometric security in fintech products enhances trust, regulatory compliance, and fraud prevention, ensuring secure financial interactions for both businesses and consumers.
By enabling secure, fast, and reliable digital transactions, Evolute Fintech is reshaping India’s payment infrastructure, making cashless payments more accessible and trustworthy.
Glomore: Powering the Energy Sector with Battery Pack Solutions
Glomore focuses exclusively on battery pack solutions, playing a key role in India’s energy storage, EV ecosystem, and power backup infrastructure. As the country transitions toward renewable energy and sustainable mobility, reliable battery technology is essential for efficiency and longevity.
- The Indian battery market is expected to reach $25 billion by 2030, driven by demand for EVs, grid storage solutions, and industrial applications, according to a 2025 CEEW-CEF report.
- Glomore’s custom battery pack solutions cater to automotive, industrial, and energy storage needs, ensuring longer life cycles, faster charging, and improved energy efficiency.
- As India aims for 30% EV adoption by 2030, advanced battery solutions will be key to scaling electric mobility and reducing dependence on fossil fuels.
By providing robust and sustainable battery technology, Glomore is powering India’s transition toward an energy-efficient and green future.
Leone Relays: Strengthening India’s Industrial Automation & Power Systems
Leone Relays is a pioneer in relay technology, catering to industries like power distribution, telecom, automotive, and industrial automation. Reliable relays and switchgear solutions are essential for maintaining power stability, automation control, and safety across industries.
- The global relay market is expected to grow at 8.5% CAGR, with increased adoption in smart grids, renewable energy, and industrial automation, as per a 2025 IMARC report.
- Leone’s high-performance relays ensure seamless automation, equipment safety, and energy efficiency, minimizing power losses and optimizing industrial operations.
- As India expands its renewable energy capacity, smart relays are becoming integral to sustainable power distribution and grid stability.
With a focus on precision, durability, and automation-driven efficiency, Leone Relays is driving the next phase of India’s industrial modernization.
EvoFlex: Transforming EMS with Turnkey Manufacturing and Advanced Supply Chain Solutions
EvoFlex, the newest initiative from Evolute Cleantech Solutions, is a next-generation Electronics Manufacturing Services (EMS) provider specializing in Power Electronics, Energy Storage Solutions, Industrial Electronics and more. By integrating Industry 4.0 technologies with a modular, sachetized service model, EvoFlex enables businesses to select only the solutions they need—ranging from turnkey manufacturing and supply chain services to R&D, MRO and quality control. This innovative approach ensures cost efficiency, scalability, and high performance, empowering businesses to stay agile in a rapidly evolving market.
Key Offerings:
- Turnkey Manufacturing: We manage the entire product development lifecycle, from design and prototyping to mass production, ensuring a streamlined process that meets the highest industry standards.
- Supply Chain Services (SCM): EvoFlex invests in cutting-edge R&D and precision engineering. With two-thirds of Indian manufacturers adopting Industry 4.0 by 2025, we drive smart manufacturing innovations.
- R&D and Engineering Services: EvoFlex invests in cutting-edge research and development, offering precision engineering and product innovation to keep our clients ahead in a competitive market.
- Maintenance, Repair, and Overhaul (MRO): We provide advanced repair and maintenance solutions to ensure operational reliability and extend the lifespan of your equipment.
- Quality Control (QA & QC): Our stringent testing and compliance measures ensure that all products meet or exceed industry standards, providing peace of mind to our clients.
By integrating Industry 4.0 technologies, EvoFlex enhances operational efficiency, reduces downtime, and enables businesses to scale dynamically. This adaptable model empowers companies to respond swiftly to market demands while maintaining high-performance standards.
Conclusion: The Future of India’s Technology Revolution
India’s third-generation technology companies are driving a new era of innovation, industrial transformation, and digital empowerment. Evolute Group, with its diverse portfolio in embedded systems, fintech, battery solutions, and relay technology, exemplifies this revolution—fueling industrial automation, financial inclusion, sustainable mobility, and power efficiency.
As these companies build, manufacture, and innovate, India is rapidly emerging as a global technology powerhouse. The impact is far-reaching:
✔️ Technology-led job creation is at an all-time high, expanding opportunities beyond traditional IT roles.
✔️ Manufacturing and automation are revolutionizing industries, increasing efficiency and productivity.
✔️ Fintech innovations are making digital transactions seamless, secure, and widely accessible.
✔️ Embedded systems and semiconductor advancements are strengthening India’s position in the global tech landscape.
✔️ India’s role in the global supply chain is growing, attracting massive investments and strengthening exports.
By integrating innovation with industrial growth, third-generation technology companies like Evolute Group are shaping India’s future—ensuring sustainability, efficiency, and global competitiveness for years to come.
