ONGC leads 34 Indian firms in Forbes 2000 list
Friday, 30 March 2007, 05:00 Hrs
New Delhi: Exploration major Oil and Natural Gas Corporation (ONGC) leads 34 Indian corporates in the Forbes 2000 list of elite companies across the world. The Forbes' 2000 rankings for this year, which are based on sales, profits, assets and market valuation, feature eleven banks, five oil and gas companies, four IT giants, two utilities, and one telecom major. ONGC occupies the 239th spot, followed by Reliance Industries (258), State Bank of India (326) and Indian Oil (399). Tata Consultancy Services is at the 1,047th spot but tops the Indian IT companies, followed by Infosys (1,130), Wipro (1,233) and Satyam (1,874). Two other Tata group companies - Tata Steel and Tata Motors - also figure in the list. The following are the 34 Indian companies: Oil and Natural Gas Corporation (239), Reliance Industries (258), State Bank of India (326), Indian Oil Corporation (399), National Thermal Power Corporation (494), ICICI Bank (536), Steel Authority of India (800), Tata Consultancy Services (1,047), Tata Steel (1,128), Infosys (1,130), Bharti Airtel (1,149), Housing Development and Finance Corporation (1,197), Wipro (1,233), Tata Motors (1,235), ITC (1,256), GAIL (1,278). Punjab National Bank (1,308), Bharat Heavy Electricals Ltd (1,313), Canara Bank (1,360), Bharat Petroleum Corporation Ltd (1,372), HDFC Bank (1,376), Larsen & Toubro (1,380), Hindustan Petroleum Corporation Ltd (1,460), Bank of Baroda (1,585), Bank of India (1,691), Hindustan Zinc (1,700), IDBI (1,767), Union Bank of India (1,772), Satyam (1,874), Bajaj Auto (1,916), UCO Bank (1,931), Syndicate Bank (1,943), Indian Overseas Bank (1,946), and Oriental Bank of Commerce (1,974). The top seven spots have gone to US companies, with two firms from the Netherlands and one from Switzerland making up the top 10. Citigroup has claimed the top spot in the rankings, followed by Bank of America, HSBC Holdings, General Electric, JP Morgan Chase, American Intl Group, ExxonMobil, Royal Dutch Shell (Holland), UBS (Switzerland) and ING Group (Holland). Overall, however, the US has 34 fewer companies in the list, which also features 16 Chinese entities. According to Forbes, the 2007 rankings indicate that globalization is the essential element for business to prosper.