State-run ONGC Videsh has emerged as the Indian company having the most international exposure, replacing Tata Steel, according to a survey.
ONGC Videsh has topped the list of 15 most internationalised Indian companies, prepared by Indian School of Business (ISB) along with Brazil's Funda Dom Cabral.
The company is the only public sector enterprise in the league, which features six Tata group companies.
Besides, Tata Steel at the second spot -- which was on top last year -- others are Tata Global Beverages (3), Tata Communications (6), Tata Motors (9), Tata Consultancy Services (12) and Tata Chemicals (15).
ISB Professor Raveendra Chittoor, who was part of the study, said the list reflects domestic companies having the maximum international exposure. However, the rankings does not include a few companies, he added.
"We were not able to rank Tech Mahindra and Wipro (though we believe these companies to be highly internationalised) because these companies were unable to provide us with a split of their foreign and domestic assets," ISB said in a statement.
The top 15 rankings have been made from 27 companies that participated in the survey.
Other companies in the list are Motherson Sumi Systems (4), HCL Technologies (5), Hindalco Industries (7), Suzlon Energy (8), Dr Reddy's Laboratories (10), Jubilant Life Sciences (11), Infosys (13) and Punj Lloyd (14).
The rankings, which have taken into accounts figures for fiscal ended March 2012 -- are based on three factors: percentage of international assets against total assets, overseas revenues against total revenues and percentage of foreign employees with respect to total headcount.
The methodology is based on the Transnationality Index (TNI) developed by the United Nations Conference on Trade and Development (UNCTAD).
According to the statement, the top 15 transnational companies earned 75 per cent of their total revenues from international operations, held 57 per cent of their total assets overseas, and employed 20 per cent of their overall workforce abroad.