Indian steel giant Tata Steel is likely to find a
place in the next list of Fortune 500 companies
that list the world''s largest corporates, the US based
business magazine''s international editor Robert Friedman
the $8-billion acquisition of Anglo-Dutch Corus, Tata
Steel may become the seventh Indian entity to feature
on the Fortune Global 500 list of companies, Friedman
Steel has annual revenue of about $5 billion while Corus
had total sales of about $17.54 billion in 2005. The merger
could take their combined revenue to over $22 billion.
Fortune 500 list currently lists six Indian companies
- Indian Oil, Reliance Industries, Bharat Petroleum, Hindustan
Petroleum, Oil and Natural Gas Corp and State Bank of
India. IT giants like Infosys and Wipro have emerged as
true global players but it could be still some time before
they make to the list, he pointed out.
said this during the launch of Fortune Global Forum 2007
that would be held for the first time in India. He said
the magazine might even launch an India specific list
as it was planning a major expansion of its coverage and
presence in the country.
Fortune list is based on the total global sales
figures of the
companies and many Indian firms, who could be large players
in the domestic market, still lag behind many of their
overseas peers on this parameter, he pointed out.