Times of India
may be the worlds factory, but Indian companies,
led by software giants TCS and Infosys, continue
to outshine and dominate the annual ranking of
big-cap, profitable companies in Asia. Up to 12
Indian companies made it to the third annual Forbes
Asia Fabulous 50 list, followed by Taiwan with
10 and China with seven, Forbes Asia said in a
Four of Indias IT outsourcing companies,
including the biggest Tata Consultancy Services
(TCS) that writes software for leading American
firms, made the cut.
TCSs revenues leapt 45 per cent in the last
year and its market capitalisation has doubled
since listing three years ago to cross the $27
billion mark, the release said.
TCS earns nearly all of its revenues overseas
but will move some of its work back to India,
it said. The 12 Indian companies on the Forbes
Asia fabulous 50 list are: Bharat
Heavy Electricals, Bharti Airtel, Grasim
Industries, HDFC Bank, ICICI Bank, Infosys
Technologies, Larsen & Toubro, Reliance Industries,
Satyam Computer Services, Tata Consultancy Services,
Tata Steel and Wipro.
Most of the Indian firms on the list, however,
did not have to leave home to find success, the
release noted. With a relatively young population
of 1.1 billion, India has its own huge market.
Companies like ICICI Bank, HDFC Bank and Bharti
Airtel are growing fast by reaching out to the
countrys rural customers, not to western
markets. Others, such as Grasim, Larsen &
Toubro and Reliance, are shoring up the countrys
infrastructure at a furious pace.