Ten Indian firms in Forbes List of 50 top Asian companies

New York, Sept.4 : Indian companies once again made a strong showing in the Forbes List of fifty top Asian companies.

Ten Indian companies have made the list, which is dominated by China (13 companies). Australia and Taiwan follow India with seven and six firms respectively. The list also includes Hong Kong (five firms), Japan (three), South Korea (two), and Indonesia, Philippines, Thailand and Malaysia (one each).

Among the ten Indian companies, software and out sourcing majors Infosys and Wipro are back for the fourth consecutive year. Reliance Industries, Bharat Heavy Electricals and Larsen and Toubro are back for the third year. Consumer-oriented companies such as telecom major Bharti Airtel, the HDFC Bank, Mahindra and Mahindra, Reliance Industries and ITC also figure in the list, indicative of India's growing middle class. The 'Asian Fabulous 50' ranking is topped by Taiwan-based computer maker Acer, while BHEL and Bharti Airtel are the top ranked Indian companies at fifth and sixth spots respectively.

Acer is followed by Chinese steel maker Angang Steel, Taiwan's Asustek Computer and Indonesia's Bank Rakyat Indonesia at the second, third and fourth spots, respectively.

Among Indian firms, BHEL and Bharti Airtel are followed in ranking by private sector lender HDFC Bank (22), Infosys (25), ITC (27), Larsen and Toubro (30), Mahindra and Mahindra (34), Reliance Industries (39), Tata Steel (44) and Wipro (46).

The list of selections is based on factors like long-term profitability, sales and earnings growth, stock price appreciation and projected earnings for every company in the region with revenues or market capitalization of at least five billion dollars.

ANI