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India Inc decorates the Forbes list

Delhi, Sat, 07 Apr 2007 Noor En Ahmed

April 7: Honoring India Inc, Forbes, the world popular Business Magazine, included 34 business companies of India in its index list of world’s top business companies, last week. In the list, Oil and Natural Gas Corporation leads and secures the 239th rank, followed by Reliance Industries 258th, State Bank of India 326th and two companies - Bharat Navratna Indian Oil at 399th and National Thermal Power Corporation at 494th place, among the top 2000 companies of the world. The ranks are based on sales, profits, assets and stock market value.

Excluding ONGC, Reliance Industries, SBI and NTPC, no other company found its place in the top 500, fortunately few did make among top 2000 mega corporate enterprises spread across the world. Five companies listed are those catering to the energy sector, oil and gas, four in the software sector, three which deal in materials and capital goods, two from utilities, one company from food and consumer durable and the last and only one from telecommunication sector.

Beyond top 500, ICICI was awarded 536th rank, Steel Authority of India ltd. 800th, Tata Consultancy Services 1047th, Tata Steel 1128th, Infosys Technologies 1130th, Bharti Airtel 1149th, HDFC Housing Development 1197 th, Wipro Software Solutions 1233 th, Tata Motors 1235 th, ITC 1256 th, Gas Authority of India ltd. (1278), Punjab National Bank (1308), Bharat Heavy Electricals Ltd 1313th, Canara Bank 1360 th, Bharat Petroleum 1372 th, HDFC Bank 1376th, Larson & Toubro 1380th, Hindustan Petroleun 1460th , Bank of Baroda 1585 th, Bank of India 1691th, Hindustan Zinc 1700 th, Industrial Development Bank of India 1767th, Union Bank of India 1772th, Satyam Computer Services 1874th, Bajaj Auto 1916th, UCO Bank 1931th, Syndicate Bank 1943th, Indian Overseas Bank 1946 th and Oriental Bank of Commerce 1974 th.

American Companies dominate and got the first seven top spots in the top 10 Forbes index. Two other firms are from Netherlands and one from Switzerland. Citigroup is on the top followed by Bank of America, HSBC Holdings, General Electric, JP Morgan Chase, American Intl Group, Exxon Mobil (all American), Royal Dutch Shell (Netherlands), UBS (Switzerland) and ING Group (Netherlands).

Sixteen new Chinese companies got added in the list while United States lost 34 companies from the list. Argentina entered for first time in the Global 2000 list.

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