Global challengers are high-growth companies from emerging markets which are rapidly expanding overseas and have changed their deal-making strategies in recent years.
Click NEXT to see 20 companies from India in the 'BCG Global Challengers 2013' list...
Bajaj Auto
According to a report 'BCG Global Challengers 2013', released globally on Tuesday, the 100 companies from the emerging markets are outshining household names in the US and Europe and are having a "profound impact on the global economy".
(BCG has listed companies according to alphabetical order.)
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Bharat Forge
These 100 companies are from 17 countries including China, Brazil, Chile, Egypt and South Africa. Besides, firms from Colombia and Qatar joined the list for the first time.
The list has 30 companies from China followed by India (20), Brazil (13), Mexico (seven), Russia (six) South Africa (5).
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Bharti Airtel
Bharti Airtel has leveraged their insights from the challenging Indian market to expand into other developing markets -notably, Africa.
Bharti Airtel began its domestic mobile-phone service in 1995, when India only had 1 million phone lines - all of which were landlines. It is now the nation's largest mobile provider and an emerging force in Africa, the BCG study states.
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Crompton Greaves
These challengers average revenue was at $26.5 billion in 2011, compared to $21 billion for the S&P 500's non-financial firms and $20 billion for the entire S&P 500.
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Dr Reddy's Laboratories
"If ever there was a wake-up call for business leaders in the West, this is it," said David C Michael, co-author of the report.
"We have been monitoring the rise of global challenger companies for nearly a decade, and the ambition of these companies... has never been stronger," he added.
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Godrej Consumer Products
Godrej allows local managers in Africa to set local marketing and sales strategies and to tailor their offering, such as top-selling hair products, to local needs. Emerging markets frequent require products tailored for local conditions, says BCG.
The study cites the example of chotuKool - an inexpensive, environmentally friendly, and portable refrigerator made by a sister company of Godej Consumer Products.
ChotuKool, which means "little cool," weighs less than eight kilograms and addresses the rural Indian market and its intermittent power supply. It is battery-operated, consumes less than half the power used by a regular refrigerator, and uses high-end insulation to protect its contents if the batteries die.
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Hindalco Industries
The BRIC nations, once home to 84 challengers, now account for 69 of the companies on the list.
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Infosys
For the first time since BCG began identifying challengers in 2006, the list includes representatives from financial services, health care equipment, and electronic commerce.
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Larsen & Toubro
The number of overseas deals completed by the 2013 challengers fell from 130 in 2007 to 99 in 2011, but the average deal size increased from $484 million in 2007 to nearly $1.1 billion for deals announced in 2012.
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Lupin
Over the past five years, more than 1,000 companies headquartered in emerging markets have reached at least $1 billion in annual sales.
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Mahindra & Mahindra
Many of these are content to focus on their home market, while 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.
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Motherson Sumi System
The global challengers purchase more than $1.7 trillion of goods and services a year.
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Reliance Industries
Of the total 100 companies, 26 are new entrants. Many new names have displaced firms from Brazil, Russia, India and China. These BRIC nations once had 84 firms on the list, but now have 69.
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Sun Pharmaceuticals
Their average revenues exceed those of the average S&P 500 company. Companies needed to have annual revenues of at least $1 billion, a threshold that ensures they have the resources to go global.
BCG sought companies in which overseas revenues either totaled 10 per cent of total revenue or $500 million.
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Tata Chemicals
The global challengers' annual capital spending exceeds $330 billion.
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Tata Consultancy Services
China and India boast the highest numbers, with 30 and 20 global challengers, respectively.
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Tata Motors
BCG assessed companies which have the potential to have global footprints, excluding those that could pursue only export-driven models.
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Tata Steel
Each company's international presence, the number and size of its international investments, M&A activity over the past five years, and the strength of its business model were also taken into consideration to find out the global challengers.
BCG also compared the size of each company with the size of other challengers and multinational competitors in its industry
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Vedanta Resources
This is the fifth time since 2006 that BCG has compiled a list of global challengers, and this group is the most diverse yet, with wider geographic and industrial breadth than ever before.
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Wipro
Wipro enhanced its sector expertise by acquiring the oil-and-gas IT practice of US-based Saic, and in 2012, Wipro acquired Promax Applications Group, an Australian analytics company specialising in trade promotion, a promising opportunity for growth as consumer spending rises in India, states BCG.
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