Indian firms top Asia's 50 best performers list, but creates less wealth

06 September 2008

Mumbai: Two Indian companies - Siemens India the Indian unit of German conglomerate Siemens AG, and real estate major Unitech - have made it to the top of a list of Asia's 50 best performing companies, compiled by international financial magazine BusinessWeek.

China's Alibaba.Com, China Molybdenum and Japan's Inpex Holdings complete the top five tally.

A total of seven Indian companies have made to the top 20 positions -   drugmaker Cipla (sixth), ABB India (12th), Tech Mahindra (13th), Hindustan Zinc (17th) and DLF (18th).

Other Indian companies on the list include BHEL (27th), ITC (45th) and TCS (50th).

India also had the maximum representation in the list with a total of 10 companies. China had eight , Hong Kong six, Indonesia, Taiwan and Pakistan five each, Singapore four, Korea three and Japan and Malaysia two each.

However, India accounted for just about one per cent of the worldwide wealth market size of over $109 trillion in 2007. The global wealth market grew by 4.9 per cent over the previous year, according to a report by global consultancy major Boston Consulting Group.