Representative image generated by AI2025 will be the year when mid-sized companies accelerate their growth into large companies.
Five years ago, a McKinsey & Company report said that for India to achieve its growth aspirations, it needs to enable more than 1,000 mid-sized companies (with revenues of $40 million to $500 million) to scale up to become large enterprises. It was stated that there was. This can foster competition and increase productivity. This is an area where India lags far behind other countries around the world.
As we culminate in 2025, the changes are clear. Currently, the revenue of over 2,500 companies, including over 1,200 listed companies, is expected to be between Rs 340 million and Rs 400 billion, an increase of 66% compared to 2020.
But for many midsize businesses, growth can feel like a distant dream. It’s only for startups backed by venture capital and large corporations with unlimited resources. But the reality is that midsize companies are in the best position to scale. They have the agility of small businesses and the operational maturity of large enterprises. But what they often lack is the clarity to know what to do next. Below are strategies that can help midsize businesses open the door to the next stage of growth.
1. Embrace change
Growth isn’t about doing what you’ve always done a little better. It is important to rethink your business model, priorities, and even assumptions. The companies that grew in 2024 were not afraid to ask:
Are we in the right market? Do we have the right products and services? Are we investing in the right people and technology?
Success begins with being brutally honest about where you are and where you need to go. In recent quarters, mid-sized Indian IT companies such as LTIMindtree, Coforge, Mphasis and Persistent Systems have been gaining market share from industry giants such as Tata Consultancy Services and Infosys. These companies responded to customer needs amid economic uncertainty and adapted to changing market dynamics by focusing on short-term transactions to reduce costs. This strategic shift allowed them to grow in a difficult environment. 2. Think like a big player
There’s a reason why some of India’s mid-sized IT companies have grown by leaps and bounds. Because we hired leaders from large companies. These leaders bring more than just experience. They bring perspective. They know how to structure teams, implement processes, and align goals and measurable outcomes.
Those who cannot afford to hire experienced executives should study what large companies are doing well and borrow their best practices. These practices include:
Create a clear accountability framework. Set ambitious but achievable growth goals. Use data, not just intuition, to guide your decisions.
Recently, the company, which is a prominent company in the Indian auto components sector, has introduced technology to gain a competitive advantage. By implementing advanced manufacturing processes and focusing on innovation, the organization has been able to improve operational efficiency and product quality, putting it on par with leading competitors in the industry.
3. Prioritize innovation over perfection
Medium-sized companies often suffer losses because they are waiting for the perfect moment, the perfect product, the perfect process. Growth comes to those who act quickly and adapt. For example, experimenting with small pilots rather than rolling out a large-scale initiative allows you to incorporate changing client preferences and identify blind spots more cost-effectively. Many companies hold “hackathons” to increase employee productivity and encourage innovation to solve specific problems. This approach highlights the reality that markets value “presence” rather than “perfection.”
4. Leverage your unique strengths
Midsize companies have advantages over start-ups and larger companies, such as agility, close customer relationships that can drive personalization and niche expertise. Companies can identify these strengths and build on them further. For example, if you’ve built trust in a particular market, consider complementary services or deeper engagement with existing customers. Founded in 2018, it is a well-known audio entertainment company that leverages India’s linguistic diversity by offering content in multiple regional languages. By focusing on engaging storytelling tailored to local audiences, we achieved major milestones of $160 million in annual revenue and 33 million downloads by 2023. Our focus on local content has allowed us to leverage our cultural uniqueness and tap into our vast user base. growth.
5. Building a growth culture
Growth doesn’t come from strategy alone; it requires a culture that supports it. This means teams need to be empowered to make decisions and take responsibility. Innovative thinking should be rewarded, not just results. Curbing a “good enough” culture and encouraging teams to regularly explore better ways of working should be practiced.
A recent study by Great Place to Work reveals the workplace practices of mid-sized companies in India that have contributed to excellence and growth. These include organizations that hold quarterly failure meetings to discuss insights from failed projects, leading to a culture of continuous improvement.
Thoughts of the end
2025 is ripe with opportunity for midsize companies willing to think differently. Growth strategy is not about following the latest trends. It’s about knowing who you are, where you want to go, and accepting the changes necessary to get there.
Growth is not just a result. It’s a choice. Choose boldly.
