Innovative Companies Of The Year 2024


As 2024 comes to a close, we celebrate the companies that have redefined innovation this year. These visionary organizations have revolutionized industries with cutting-edge solutions, transformative ideas and a relentless pursuit of progress. Join us in recognizing the leaders who set new benchmarks and shaped the future of business.

1. Infra.Market

Founded in 2016 and valued at $2.5 billion, Infra.Market is a building materials platform. The company has made strategic investments holding either full ownership or significant stakes in brands such as RDC Concrete, Shalimar Paints, Emcer Tiles, Millennium Tiles, IVAS, Inicio, and Equihunt, all of which are integrated into its platform. With over 230 manufacturing units, 10,000+ retail touchpoints, 30+ flagship stores, and 50+ warehouses, Infra.Market integrates technology across the construction industry’s value chain to drive operational efficiency. *As the only platform of its kind*, it seamlessly supplies over 15 product categories, including Concrete, Aggregates, AAC Blocks, Steel, Pipes & Fittings, MDF, Plywood, Laminates, Tiles, Bath Fittings, Sanitaryware, Fans, Lights, Appliances, Modular Kitchens, Designer Hardware, and Paints.

2. OKNA

OKNA, a premier player in India’s luxury windows and doors market, has redefined innovation and quality since its inception over nine years ago. With headquarters in Gurugram, Sector 39, and a state-of-the-art manufacturing plant in Bilaspur near Manesar, OKNA delivers across India, maintaining a strong showroom presence in 10 cities and employing a skilled team of 250+ professionals. OKNA’s cutting-edge solutions are powered by German automatic machinery and premium systems and hardware imported from Belgium, ensuring unmatched safety, security, and strength. As support from system supplier – GREFET, OKNA seamlessly blends technology and craftsmanship to offer innovative features like automatic doors and windows with face tracking, remote control, and wave access functionality.

The company’s commitment to delivering on time while emphasizing luxury and service excellence sets it apart. Spearheaded by visionary entrepreneur Mr. Akhilesh Pandey, an MBA graduate who founded the company from scratch, OKNA has carved a niche in the industry with a focus on innovation and client satisfaction. By combining advanced technology with impeccable design, OKNA continues to push the boundaries of excellence in the fenestration sector, making it a leader in India’s architectural and interior solutions.

3. ICON Industrial Engineering Services Private Limited

ICON Industrial Engineering Services Private Limited, widely recognized as ICONS, was established to bridge the gap between emerging companies and leading global engineering firms. Within less than a decade, ICONS has risen as a prominent centre of excellence. Founded in Hyderabad in 2011, the company formalized its status as a private limited entity in July 2014.

Under the leadership of first-generation entrepreneur DKM Rao, ICONS has become synonymous with quality and innovation in engineering services. Since its inception, the company has expanded its service portfolio, completing over 262 projects in industries such as oil and gas, petrochemicals, fertilizers, and chemicals. ICONS is proudly certified with ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 standards. Executive Director DKM Rao attributes this success to the collective leadership of Director of Operations PC Jain, Industry veterans working as senior consultants, and S. Bhasker Kumar, VP- Operations.

4. Payomatix

Payomatix is revolutionising the fintech landscape by offering seamless, secure, and versatile payment solutions tailored for businesses of all sizes. With a robust suite of services, including Alternative Payment Methods (APMs), UPI integrations, global payment solutions, and advanced security features, Payomatix simplifies transactions while ensuring exceptional speed and reliability. Under the leadership of Ruchi Rathor, a fintech expert with over 20 years of experience and accolades such as the Women Entrepreneur of the Year Award, the company has grown into a trusted partner for businesses worldwide. Complementing her leadership is Anirudh Pratap Singh, Director of Technical Operations, whose technical expertise drives the company’s cutting-edge innovations. Together, they have positioned Payomatix as India’s premier payment solution provider, set to expand globally with the upcoming launch of PayXBorder—a cross-border transaction platform that prioritises speed, security, and cost efficiency. Payomatix stands as a beacon of progress in the evolving world of digital payments.

5. Synergy Plus Business Consulting Group

M D Vanjani, the visionary CEO and Founder of Synergy Plus Business Consulting Group (SPBC Group), boasts over 45 years of international expertise, including 20 years as a CEO in Singapore and the UK. In 2014, he launched SPBC Group to deliver tailored recruitment, HR solutions, and management consultancy services across India. His mission was to apply his vast experience to foster the growth of both domestic and global businesses. Today, SPBC Group thrives with a team of 26 professionals, 80% of whom are women, reflecting Vanjani’s dedication to inclusivity and empowering diverse talent. In 2023, he expanded his entrepreneurial pursuits by opening a modern 10,000 sq. ft. facility in Dharuhera, Haryana, providing A to Z services generally required by industries and Institutions such as Technical ( Mechanical. Electricals, Electronics, Civil etc), Financials, Commercials, Legal and Human Resources related areas and achieving notable success with fairly large Indian corporates and foreign renowned companies , This vertical is growing rapidly due to customer focus approach.

SPBC Group specializes in executive recruitment, strategic consulting, and financial management, focusing on mid-to-senior-level hiring, business turnarounds, and operational efficiency. Known for its service quality and client-centric approach, the firm has earned a strong reputation for driving strategic outcomes. Looking ahead, Vanjani envisions 30% annual growth by leveraging technology and diversifying offerings, positioning SPBC Group as a leader in India’s dynamic business landscape. His commitment to innovation and excellence continues to guide the company’s impactful journey.

6. Sanghvi Infotech

Under CEO and Director Jigar Sanghvi’s leadership, Sanghvi Infotech has become a technology leader through innovation, customer-centric solutions, and advanced data-driven strategies. By leveraging analytics, the company decodes market trends, refines product development, and enhances customer engagement.Consistency in brand messaging builds trust and credibility. Sanghvi Infotech maintains strict brand guidelines across all platforms, ensuring unified customer experiences. Its investment in research and development fuels technological advancement, enabling the company to stay ahead of market demands.

Through open communication, personalized services, and proactive engagement, Sanghvi Infotech creates lasting customer relationships. Guided by Jigar Sanghvi’s vision, the company continues to set industry benchmarks by delivering transformative technology solutions built on data-driven innovation and customer-focused excellence.

7. Imwallet: Har Retailer in Wallet

In a world where digital transactions are the new normal, ImWallet is leading the charge as a pioneering fintech brand. Since its inception, ImWallet has consistently pushed the boundaries of innovation, Imwallet not only deals with businesses to embrace cashless solutions with ease and confidence but also provides the best opportunities to start their own Fintech Portal business with very minimum investment by using our API Solutions.

ImWwallet, established in 2017 and wholly owned by Virtual Wallet Systems Private Limited, draws on a solid foundation in the telecom and fintech industries. Our mission is to offer a comprehensive solution for the retail sector by integrating a wide range of telecom and fintech services. Naturally, this vision expanded to connect banks, utility billers, and mobile operators, empowering consumers to manage their finances, make payments, and conduct business banking directly from their mobile devices, anytime, anywhere.

The pages slugged ‘Brand Connect’ are equivalent to advertisements and are not written and produced by Forbes India journalists.






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