Indian firms debut on top multinational companies’ lists

September 25th, 2008 - 12:11 am ICT by IANS  

New Delhi, Sep 24 (IANS) Indian companies are at last showing signs of real globalisation by beginning to appear in different kinds of ranking lists based on the activities of global or transnational companies.A number of Indian companies have appeared on different ranking lists based on activities of global firms that have been included in the World Investment Report (WIR) prepared by the United Nations Conference on Trade and Development (UNCTAD).

The report was released here Wednesday.

Indian hydrocarbons major Oil and Natural Gas Corp (ONGC) appears as the only Indian company in the list of the top 100 non-financial transnational companies (TNCs) from developing countries, ranked by foreign assets in 2006.

There, are, however, no Indian company yet in the list of the world’s top 100 non-financial TNCs ranked by foreign assets in 2006.

ONGC with foreign assets of $4.73 billion out of total assets of $33 billion ranks 32 in the list on firms from developing countries. Its foreign sales were $2.47 billion out of total sales of $18.46 billion.

Then, as many as three Indian companies appear in the list of the 50 largest infrastructure TNCs of developing and transition economies, ranked by foreign assets in 2006.

Tata Communications with foreign assets of $417 million out of total assets of $2.27 billion comes first among the Indian companies with a rank of 33. Its foreign sales were $1.06 billion out of total sales of $2.03 billion.

It is followed by Bharti Airtel, ranked 47. Its foreign assets were $141 million out of total assets of $4.45 billion, while foreign sales were $237 million out of total sales of $2.62 billion.

Suzlon Energy comes third with a rank of 48. Its foreign assets were $134 million out of total assets of $1.08 billion. Foreign sales stood at $70 million out of total sales of $862 million.

In the list of cross-border merger and acquisitions (M&A) deals worth over $3 billion completed in 2007, Indian steel major Tata Steel appears as an acquiring company.

It acquired Corus Group Plc of the UK for about $11.8 billion and the deal is ranked 18th in terms of size.

Another Indian company, aluminium major AV Aluminum Inc, which acquired Novelis Inc of the US for $5.8 billion, also appears on this list at rank 46 in terms of deal size.

In this list, one other Indian company appears but as an acquired company. Indian telecommunications major Hutchison Essar Ltd was acquired by Vodafone Group Plc for $12.7 billion, and the deal is ranked 16 in terms of size.

The Hutchison Essar-Vodafone deal also appears in the list of the 25 largest cross-border M&A deals in infrastructure for the period 1991-2007.

“All these lists are based on 2006 and 2007 data. If the lists are updated, I am sure many more Indian companies will appear in them indicating how quickly Indian companies are going global in various ways,” said independent consultant and research contributor to the report Premila Nazareth Satyanand.

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