Thirty nine Indian companies, including Jindal Drilling & Industries and Emami have made it to Asia's 'Best Under A Billion' 2010 list of companies compiled by the Forbes magazine.
Among the 200 companies listed by the magazine, 39 are from India while 71 firms are based in China and Hong Kong. The number of Indian companies has increased from 20 in last year's list.
"India is in second place with 39 entities, 19 more than last year, thus making it the biggest gainer. More Indian companies made it to the list this year as the country is less open than many other Asian economies and was therefore less affected by the global downturn," Forbes said in a statement on Thursday.
Other Indian firms in the list include Allied Digital Services, Exide Industries, Jubilant Organosys, Spice Mobility, Zydus Wellness, Amara Raja Industries, Compact Disc India, Everonn Education and Micro Technologies.
The 'Best Under A Billion' list is chosen from nearly 13,000 publicly-listed Asia-Pacific companies with actively traded shares and having sales in the range of $5 million-$1 billion.
The selection of the best 200 companies is based on earnings growth, sales growth, and shareholders' return on equity in the past 12 months and over three years.