As many as five Indian companies including Tata Group firm Indian Hotels, footwear firm Bata India have been named in the list of world's 25 'unsung' innovative companies by the BusinessWeek magazine.
According to a list compiled by the BusinessWeek 'The world's 25 unsung innovative companies' includes firms which have failed to get a position on the the list of world's most innovative companies but are likely to become household names like Apple, Google in the next 10-20 years.
The other three Indian firms on the list are-- Bajaj Holdings & Investment, Nadir Godrej-led Godrej Industries and private sector lender Yes Bank. "Apple, Google, Toyota, and Microsoft—the corporations at the top of this year's Most Innovative Companies ranking are household names the world over. But they wouldn't have all been winners 10 or 20 years ago. The same may be true 10 or 20 years from now," the magazine said.
The 'unsung' list is based on a Boston Consulting Group survey of senior executives across the world when asked to name an innovator others would not think of.
About Indian Hotels, which runs the luxury hotel chain of Taj Hotels & Resorts, the magazine said, "its slick and modern accommodations and attentive service, which it attributes to a merit system that links employee pay to customer satisfaction ratings."