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Indian firms dominate Forbes Asia ‘Fabulous 50’ list

Indian firms dominate Forbes Asia ‘Fabulous 50’ list
PTI
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First Published: Thu, Sep 06 2007. 03 01 PM IST
Updated: Thu, Sep 06 2007. 03 01 PM IST
Dalian (China): China may be the ‘world’s factory’,but Indian companies, led by software giants TCS and Infosys, continue to outshine and dominate the annual ranking of big-cap, profitable companies in Asia.
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.
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% in the last year and its market capitalisation has doubled since listing three years ago to cross the $27 billion mark, the release said.
Tata earns nearly all of its revenues overseas but will move some of its work back to India, it said.
Some of 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 and Satyam Computer Sert.
Companies such as ICICI Bank, HDFC Bank and Bharti Airtel are growing fast by reaching out to the country’s rural customers and not to western markets. Others, such as Grasim, Larsen & Toubro and Reliance, are shoring up the country’s infrastructure at a furious pace.
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First Published: Thu, Sep 06 2007. 03 01 PM IST