India dominates Forbes Asia ''Fabulous 50'' list with 12 companies news
06 September 2007

Mumbai: India has the largest number of profitable companies with revenues or market capitalisation above $5 billion in the Asia Pacific region, Forbes business magazine said in its annual ranking.

A total of 12 Indian companies made it to the third annual Forbes Asia Fabulous 50 List, followed by Taiwan with 10 and China with seven, Forbes Asia said in a press release.

The 12 Indian companies on the Forbes Asia ''Fabulous 50'' list are: Bharat Heavy Electricals, Bharti Airtel, Grasim Industries, HDFC Bank, ICICI Bank, Infosys Technologies, Larsen & Toubro, Reliance Industries, Satyam Computer Services, Tata Consultancy Services, Tata Steel and Wipro.

Most of the Indian firms on the list, however, did not have to leave home to find success, the report noted

Four of India''s IT outsourcing companies made the cut including the biggest, Tata Consultancy Services (TCS) that writes software for leading American firms.

Its revenues leapt 45 per cent in the last year and its market capitalisation has doubled since listing three years ago to cross the $27 billion mark, the release said.

TCS earns nearly all of its revenues overseas but will move some of its work back to India, it said.

It was the largest representation by any country. Taiwan followed in second place with 10 homegrown firms on the list.

China placed third with seven businesses, including China Mobile and Lenovo Group, Forbes said.

"With a relatively young population of 1.1 billion, India has its own huge market," the US magazine said.

"Companies such as ICICI Bank, HDFC Bank and Bharti Airtel are growing fast by reaching out to the country''s rural customers, not to Western markets," Forbes pointed out.

Other companies on the list include some of Asia''s most well-known brands such as Hong Kong carrier Cathay Pacific Airways, Taiwan''s computer giant Acer and video game console maker Nintendo of Japan.
also see : General reports on Economy

 search domain-b
  go
 
India dominates Forbes Asia ''Fabulous 50'' list with 12 companies