5 Indian firms in Forbes's 'innovative companies' list

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Washington, Sept 7: Five Indian companies including Larsen & Toubro, Hindustan Unilever and Infosys have figured in Forbes magazine's list of world's most innovative companies. The list is topped by four American firms.

Larsen & Toubro, with an annual sales growth of 19 per cent, is ranked ninth in the world while Hindustan Unilever is ranked 12 with 11.4 per cent. Infosys, which ranks 19, has annual sales growth of 12.7 per cent, thanks to what the business magazine called a lower "innovation premium."

This is the difference between the value of the company's existing ventures and its expected innovations in the future. The firms must also have $10 billion in market capitalisation and divert a minimum one per cent of their asset base towards research and development work.

Tata Consultancy Services was ranked 29 with 19.5 per cent while Sun Pharmaceutical Industries with a 14.6 per cent growth was ranked 38.

Four US companies --- Salesforce.com, Alexion Pharmaceuticals, Amazon.com and Red Hat grabbed the top four positions.

Forbes also mentioned about SD Shibulal, co-founder and CEO of Infosys, calling him an observer and experimenter. At Infosys, Shibulal was in sales, did account management, launched its internet consulting practice, worked as a network expert, helped in its design and launched its first e-commerce application and also served as the head of both delivery and sales, the magazine said.

OneIndia News

(With agency inputs)

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