48 Indian companies in top Forbes' list
Led by Reliance Industries and PSU major ONGC, nearly 48 Indian firms have made it to a list of the world's biggest companies compiled by the US magazine.business Updated: Apr 03, 2008 17:18 IST
After billionaire businessmen, it is the turn of companies from India to shine on Forbes radar with as many as 48 firms making it to a list of the world's biggest companies compiled by the US magazine.
Led by India's most valued firm Reliance Industries and PSU major ONGC, all these 48 Indian firms named in the 'Global 2000 List' have a billion-dollar size -- both in terms of turnover and market value.
The rankings, topped by British banking behemoth HSBC, has been compiled on the basis of a composite score of sales, profit, assets and market capitalisation.
HSBC is followed by industrial conglomerate General Electric, Bank of America, JPMorgan Chase and ExxonMobil -- all four from the US -- in the top five positions.
Two Indian firms, Mukesh Ambani-promoted RIL and ONGC are among the top 200 companies at 193rd and 198th ranks.
Earlier in March, Forbes had released its list of world's richest billionaires that included 53 Indian businessmen, with four of them -- Lakshmi Mittal, Mukesh Ambani, Anil Ambani and KP Singh -- figuring among the world's ten wealthiest.
RIL and ONGC are followed by two PSU majors State Bank of India (219th) and Indian Oil (303rd), the country's biggest private sector lender ICICI Bank (374th) and state-run power generation major NTPC (411th).
The Indian presence is almost evenly divided among the private and state-run companies.
While none of the Indian companies have managed to find a place among top 100, it has two firms run by people of Indian origin. Vikram Pandit-run banking giant Citigroup and Lakshmi Mittal-headed steel behemoth ArcelorMittal are at 24th and 38th positions respectively. Indra Nooyi-run beverage major PepsiCo has been ranked at 131st position.