IBEF: January 13, 2021
According to a survey, a total of 11 private Indian companies have made it to the list of 500 most valuable companies in the world, and India is ranked 10th on the ranking.
The overall value of these 11 companies increased by 14% and amounted to US$ 805 billion, or almost a third of India's GDP.
In 2020, barring tobacco major ITC and second largest private sector lender ICICI Bank, all these businesses in the list of non-state corporations have gained in value, according to the "Hurun Global 500" study.
With a 20.5% increase in valuation to US$ 168.8 billion as of December 1, Reliance Industries tops among local businesses and is ranked 54th globally.
In 2020, the value of Tata Consultancy Services expanded by almost 30% to take its value to US$ 139 billion, ranking it 73rd globally and making it the second most valued Indian company.
HDFC Bank's value increased 11.5% to US$ 107.5 billion, Hindustan Lever (US$ 68.2 billion, 3.3% gains), Infosys (US$ 66 billion and 56.6% gains), HDFC Ltd (US$ 56.4 billion, 2.1% gains) and Kotak Mahindra Bank (US$ 50.6 billion, 16.8% in gains).
The report indicated that 239 of the companies headquartered outside India have an operations in the country, with a maximum of 239 having regional offices in the financial capital.
Seven of the 11 most valuable companies have their financial capital headquarters, followed by one each in Pune, Bengaluru, Kolkata and New Delhi, it said.
Despite the pandemic, the study said the local stock market increased 12%, which may explain the increase in valuations.
The 500 list is headed by Apple, a global consumer technology business with a value of US$ 2.1 trillion, followed by Microsoft and Amazon at US$ 1.6 trillion.
With 242 out of the 500 entries, the US accounted for almost half of the firms, led by China at 51 and Japan at 30 companies.
The largest lender SBI was the only entrant in the list of 45 among state-owned or managed enterprises, with its US$ 33 billion valuation ensuring it gets the last rank, according to the survey.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.