Date:04/04/2008 URL: http://www.thehindu.com/2008/04/04/stories/2008040456791900.htm

Business - Briefly

48 Indian firms shine on Forbes’ radar

RIL, ONGC are among the top 200 companies

NEW YORK: After billionaire businessmen, it is the turn of companies from India to shine on Forbes radar with as many as 48 firms making it to a list of the world’s biggest companies compiled by the U.S. magazine. Led by India’s most valued firm Reliance Industries and PSU major ONGC, all these 48 Indian firms named in the ‘Global 2000 List’ have a billion-dollar size in terms of market value.

The rankings, topped by British banking behemoth HSBC, has been compiled on the basis of a composite score of sales, profit, assets and market capitalisation.

HSBC is followed by industrial conglomerate General Electric, Bank of America, JPMorgan Chase and ExxonMobil — all four from the U.S. — in the top five positions.

Two Indian firms, Mukesh Ambani-promoted RIL and ONGC are among the top 200 companies at 193rd and 198th ranks.

RIL and ONGC are followed by two PSU majors SBI (219th) and Indian Oil (303rd), the country’s biggest private sector lender ICICI Bank (374th) and state-run power generation major NTPC (411th). The Indian presence is almost evenly divided among the private and state-run companies. While none of the Indian companies have managed to find a place among top 100, it has two firms run by people of Indian origin.