New Delhi: Despite three years of economic slowdown and global uncertainty, India has improved its tally in Forbes list of Asia’s 50 best companies to 12 by adding one more company to the last year's
New Delhi: Despite three years of economic slowdown and global uncertainty, India has improved its tally in Forbes list of Asia’s 50 best companies to 12 by adding one more company to the last year's list, as compared to China, which has seen three of companies going out of this list this year. “India has 12 entries, up from 11 last year. The list includes Asian Paints, Axis Bank, Dr. Reddy’s Laboratories, HCL Technologies, HDFC Bank, Sun Pharmaceutical Industries, Tata Consultancy Services, Titan Industries, Idea Cellular, ITC, Lupin, and Motherson Sumi Systems,” a Forbes statement said on Tuesday. The criteria for making it to this list is simple: The companies need to post growth despite global or domestic slow down. “Businesses are being tested throughout the region. Three years of slowing growth, gyrating currencies and stock prices, and stagnating export markets in the US and Europe all present challenges. Companies that are not only surviving but also shining in these times make up our roster of Asia-Pacific’s best 50 big listed companies,” said Forbes, explaining the criteria for selecting Forbes 50. Mainland China, meanwhile, has 20 companies in the list - three less than last year. Four are from Hong Kong, three each from the Philippines and South Korea, two each from Taiwan and Thailand, and one each from Indonesia, Australia, Singapore and Malaysia. In the process of selecting 50 companies, Forbes claims to have analysed 1,220 companies in Asia, which have at least $3 billion in annual revenue or market capitalisation. “We looked at each company’s track record for revenue, profits, return on capital and then we sized up the outlook,” the US magazine said.
