HUL, Bhel in Forbes ten most innovative firms of the world

Two Indian companies Hindustan Unilever and Bharat Heavy Electricals have featured in the ten most innovative companies in the world by the US magazine Forbes' latest edition.

Two Indian companies Hindustan Unilever (HUL) and Bharat Heavy Electricals (Bhel) have featured in the ten most innovative companies in the world by the US magazine Forbes' latest edition.

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While the fast moving consumer goods giant is placed at the sixth position ahead of Google, Bhel is ranked ninth in the list, which is topped by US-based IT service provider Salesforce.com.

The magazine said the list is based on a study by Harvard Business School professor Clayton M Christensen, Jeff Dyer, professor at Brigham Young University, and Hal B Gregersen, professor of leadership at INSEAD.

Online retail firm Amazon has been placed at the second position with Intuitive Surgical in third, while Apple and Google ranked fifth and seventh respectively in the list.

"Our method relies on investors—voting with their wallets—to identify the companies they expect to be innovative today and in the future. Among them are familiar ground breakers like Amazon, Apple and Google," according to the study which is published in Forbes latest edition.