India Inc. has another reason to cheer as 12 Indian companies find a place among the 50 best public companies in Asia-Pacific, according to a list compiled by Forbes.
The Forbes 2014 ‘honour roll of the Fabulous 50’ grades Asia-Pacific’s best and biggest publicly traded companies.
The magazine also ranked India second as “the world’s next growth engine”. With 16 companies on the list China placed first.
The Indian companies on the list include Asian Paints, Axis Bank, HCL Technologies, HDFC Bank, Lupin, Mahindra and Mahindra, Mothersome Sumi Systems, Sun Pharma, TCS, Tata Motors, Tech Mahindra and Titan.
These companies were selected from a pool of 1,300 companies in the region that have at least 3 billion USD in market cap or annual revenue. They list did not include companies which were more than 50 percent state-owned.
Forbes ranked the companies on the basis of their performance measures and outlook.
India has done well in comparison to other Asian economic giants. South Korea has six companies on the list, followed by Hong Kong with three, while Japan, Australia, Malaysia, Singapore and Thailand have two companies each.
In another Forbes list released on August 21, five Indian companies placed on the Forbes’ list of world’s 100 most innovative companies list.
This list included Hindustan Unilever (HUL), Tata Consultancy Services (TCS), Larsen and Turbo, Sun Pharmaceuticals and Bajaj Auto.
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