27 Indian companies among Forbes' 2,000 top global firms

Tuesday, 30 March 2004, 08:00 Hrs
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NEW DELHI: Twenty-seven Indian companies, including state-run Indian Oil Corporation and tech giant Infosys Technologies, have been included in Forbes' list of 2,000 leading global corporations.

The rankings were measured by a composite of sales, profits, assets and market value, a report posted on the Forbes website Tuesday said.

Oil major Indian Oil Corporation topped the list of Indian companies in the survey at a rank of 243 and sales of a whopping $25.26 billion.

Public sector State Bank of India (SBI), the country's largest commercial bank, followed at 251 with sales of $10.37 billion.

Besides SBI, eight other Indian banks were included in the Forbes list. They are ICICI Bank, Canara Bank, Punjab National Bank, Bank of India, Bank of Baroda, United Bank of India, Indian Overseas Bank, and Oriental Bank of Commerce.

Reliance Industries, India's largest private sector diversified business conglomerate, has been placed at 303 rank with sales of $9.57 billion and assets of $13.49 billion.

Infosys Technologies, India's largest software exporter, and its business rival Wipro are ranked 1,320 and 1,343 respectively.

Sales of Infosys and Wipro have been pegged at $770 million and $900 million, respectively.

According to Forbes, the profit of Infosys was higher at $200 million while that of Bangalore-based Wipro was $180 million.

New Delhi-based Bharti Tele-Ventures, one of India's largest telecom services provider was ranked 1,983 with sales of $640 million and assets of $1.91 billion.

Other Indian companies in the list are Oil and Natural Gas Commission, Bharat Petroleum, Hindustan Petroleum, GAIL India, ITC, HDFC, Steel Authority of India, Tata Steel, IDBI, Ranbaxy, Mahanagar Telephone Nigam, Neyveli Lignite, and Hindalco.

The list spans 51 countries and 27 industries.

Collectively, the Forbes 2000 account for a healthy chunk of global business with aggregate sales at $19 trillion, profits at $760 billion and assets of $68 trillion.

Global financial powerhouse Citigroup topped the overall Forbes 2000 list, followed by General Electric, American International Group, ExxonMobil, British Petroleum, Bank of America, HSBC Group, Toyota Motors, Fannie Mae and Wal-Mart Stores.

Source: IANS
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