New Delhi: Companies from the emerging markets are slowly making their presence felt—globally.
Boston Consulting Group’s global challengers for 2013 are from 17 countries, seven more than in 2006.
As in previous years, China and India boast the highest number, with 30 and 20 global challengers, respectively. The BRIC nations (Brazil, Russia, India, China) as a whole though, once home to 84 challengers, are now home only to 69.
“These (emerging) markets have become highly prized by companies everywhere, not just for their growth but also as sources of talent, capital, and companies,” the BCG report said.
Over the past five years, more than 1,000 companies headquartered in the emerging markets have reached at least $1 billion in annual sales.
“Many of these are content to focus on their home market, while the others are expanding abroad. And many of those that are going overseas aspire to be global leaders in their industries. These are the global challengers. They are the companies that will shape the global economy over the next decade,” the report said.