56 Indian companies in Forbes’ Global 2000; key index firms on list
As many as 56 Indian companies, including Reliance Industries and State Bank of India, have been named among the world’s 2,000 most powerful listed companies, according to US magazine Forbes.business Updated: Apr 22, 2010 21:34 IST
As many as 56 Indian companies, including Reliance Industries and State Bank of India, have been named among the world’s 2,000 most powerful listed companies, according to US magazine Forbes.
The Global 2000 list of the biggest and most powerful companies worldwide has been topped by US banking giant JPMorgan Chase and is followed by General Electric, Bank of America and ExxonMobil.
Among Indian high performers, Mukesh Ambani-led Reliance Industries leads the pack and has been ranked at the 126th place in the global list.
Other Indian companies named in the list include State Bank of India (130), ONGC (155), ICICI Bank (282), Indian Oil Corp (313), NTPC (341), Tata Steel (345), Bharti Airtel (471), Steel Authority of India (502), Larsen & Toubro (548) and HDFC Bank (632).
The global rankings span 62 countries, with the US (515 members) and Japan (210 members) dominating the list. The number of companies from developing nations in the Global 2000 is fast increasing.
This year, countries that gained the most ground include China (113 members), India (56 members) and Canada (62 members), Forbes said.
Forbes’ ranking of the world’s biggest companies used an equal weighting of sales, profits, assets and market value to rank companies according to size and this year’s list reveals the dynamism of global business.
“In total, the Global 2000 companies now account for $30 trillion in revenues, $1.4 trillion in profits, $124 trillion in assets and $31 trillion in market value. All metrics are down from last year, except for market value, which rose 61 per cent,” Forbes said.
Two companies from the Anil Ambani Group, Reliance Communications (742) and Reliance Infrastructure (1,702), have also made it on the list.
Other Indian firms in the list include Punjab National Bank (695), Tata Consultancy Services (741), HDFC (783), Infosys (807), DLF (923) and Hero Honda Motors (1,571).
Meanwhile, Toyota Motor, beset by huge safety recalls and a host of lawsuits over deaths linked to its cars, tumbled from third to 360th on the list.
The car maker trailed far behind rivals Ford, Honda, and Hyundai. It ranked third last year and 10th five years ago.
US car makers General Motors and Chrysler, which are currently turning around their businesses after filing for bankruptcy protection last year, were absent from the list.
Germany's Daimler was ranked 388th and Volkswagen dropped off the list due to the complexity surrounding its 2009 merger with Porsche.