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27 Indian firms on Forbes top 2000 list
Dharam Shourie in New York | March 30, 2004 12:45 IST
Twenty-seven Indian companies have made it to Forbes magazine's list of 2000 top firms worldwide with their ranking based on composite sales, profits, assets and market value.
The Indian pack is led by the Indian Oil Corporation followed by the State Bank of India and is dominated by banking, oil and gas industries.
Among the Indian companies making it to the list are ten banking organisations, five oil and gas companies, two telecommunication firms and two software giants Infosys Technologies and Wipro.
Indian Oil is ranked 243 and Oriental Bank of Commerce just about makes it, getting the last position – 2,000. The number of Indian firms making it to the list is up from last year's 20.
The worldwide list is led by Citigroup and among the top ten are seven United States-based companies, two British and one Japanese.
The aggregate sale of the 2,000 companies is $19 trillion which ring up profit of $760 billion.
Their assets amount to $68 trillion with a market value of $24 trillion. Together, they employ 64 million workers.
Besides the State Bank of India which is ranked 251, the Indian banking group making it to the list include ICICI Bank (820), Canara Bank (1,271), Punjab National Bank (1,286), Bank of India (1,344), Bank of Baroda (1,358), Industrial Development Bank of India (1,555), Union Bank of India (1,642) and Indian Overseas Bank (1,984).
The companies dealing with oil and gas are led by Indian Oil which is followed by Oil and Natural Gas Commission (273), Reliance industries (303), Bharat Petroleum (804) and Hindustan Petroleum (856).
Among telecommunications companies, Mahanagar Telephone Nigam is placed at 1,922 position followed by Bharti Tele-Ventures at 1,983.
Software company Infosys Technologies is ranked 1,320 just above Wipro whose position is 1,343.
Gas Authority of India Ltd, a utilities company, is ranked 1,238 and ITC gets the rank of 1,311.
Steel Authority of India is placed at the 1,393rd position much above Tata Iron and Steel which is ranked at 1,530.
Among others HDFC gets 1,380 ranking, Ranbaxy Labs 1,621, Neyveli Lignite 1,975 and Hindalco Industries 1,998.
Of the four parameters set by Forbes, Indian Oil leads in sales ($25.26 billion), SBI in assets ($104.80 billion) and ONGC in profits ($2.20 billion) and market value ($23.26 billion).
The top ten global companies are Citigroup, General Electric, American Intl Group, Exxonmobil, BP, Bank of America, HSBC group, Toyota Motor, Fannie Mae and Wal-Mart Stores.
Among them BP and HSBC group are British-based companies and Toyota Motors is Japanese.