Twenty Indian companies have made it into Boston Consulting Group's 2013 Global Challengers Listing. They include: Bajaj Auto, Bharti Airtel, Infosys, M&M, Reliance Industries, Tata Motors, Tata Steel and Wipro.
The listing seeks to identify '100 fast growing and fast globalising companies from rapidly developing economies'. China dominates the list with 30 companies. Brazil comes third with 13 companies followed by Mexico (7), Russia (6), South Africa (5), Turkey (3) and Malaysia (2). BRIC nations are home to as many as 69 of the 100 companies.
According to the BCG study , these companies are the ones driving global growth. Between 2008 and 2011, their revenues grew at an annual average of 16 per cent. Average revenues exceeded those of non-financial S&P 500 companies.
|Global Challengers from India|
- Bajaj Auto
- Bharat Forge
- Bharti Airtel
- Crompton Greaves
- Dr Reddy's Laboratories
- Godrej Consumer Products
- Hindalco Industries
- Lupin Pharmaceuticals
- Motherson Sumi Systems
- Reliance Industries
- Sun Pharma
- Tata Chemicals
- Tata Motors
- Tata Steel
- Vedanta Resources
These companies have also created jobs (1.4 million jobs between 2006 and 2011) and buy more than $1.7 trillion worth of goods and services, apart from investing over $330 billion in capital spending every year. They also invested in innovation and R&D. Between 2007 and 2011, annual expenditure on R&D tripled.
In addition, these companies also had a strong consumer focus, did not fear to enter newer, challenging markets, pursued global acquisitions and chose to collaborate or form joint ventures to acquire technology.
Interestingly, only 26 of the 100 companies in the list are government-owned - in the 2006 listing there were 36. State-owned companies typically remained focused on home markets and failed when they tried to go global, the report noted, explaining why such companies fall of the list.
Some of the non-India companies in the list are Haier, Huawei Technologies, China National Offshore Oil Corporation, Gazprom, Etihad Airways, Qatar Airways and AirAsia.
Seven companies, which have held a sustained global position in their markets, have graduated upwards and off the challenger list. They are Brazil's Vale, Mexico's Cemex, Indonesia's Wilmar International, Saudi Arabia's Aramco, South Africa's Anglo American and SABMiller, and Dubai's Emirates. No Indian company made it to that list this year.