Millennium Post

India continues to have 56 cos in Forbes global top firms list

The 2016 Forbes ‘Global 2000 , a snapshot of the world’s largest companies, shows the dominance of US and China in the current global business landscape. US and China-based companies dominate the top 10, with only Japan’s Toyota Motor at the 10th tenth preventing a clean sweep for the two nations.

India’s tally of 56 of the world’s biggest companies remains the same as last year. Reliance improved its ranking this year to 121 from 142 last year, with a market value of $50.6 billion and assets worth $91.5 billion.

Reliance is followed by State Bank of India which is ranked 149 and has a 23.3 billion dollar market value. The other Indian companies on the list are Oil and Natural Gas ranked (220), ICICI Bank (266), HDFC Bank (275), Indian Oil (371), Tata Consultancy Services (385), NTPC (400), Bharti Airtel (453), Axis Bank (484), Infosys (590), Bharat Petroleum (650), Wipro (755, Tata Steel (1178) and Adani Enterprises (1993).

Making it to the list are Coal India (465), Larsen and Toubro (505), ITC (781), Kotak Mahindra Bank (899), Mahindra and Mahindra (901) and HCL Technologies (943). Chinese banks held on to the top three spots in the comprehensive annual ranking of the world’s largest public companies.

Chinese banks held on to the top three spots in the list, a comprehensive annual ranking of the world s largest public companies. Industrial and Commercial Bank of China, China Construction Bank and Agricultural Bank of China held onto their leading positions, despite a slowing Chinese economy 
that hurt profits and knocked peer Bank of China from fourth place to sixth, Forbes said.

The 2016 list features public companies from 63 countries that together account for $35 trillion in revenue, $2.4 trillion in profit, $162 trillion of assets, and have a combined market value of $44 trillion.

Overall, 586 US companies make the list, to 249 for China (mainland and Hong Kong), 219 for Japan, 92 from the United Kingdom and 67 from South Korea. The biggest public companies in the US include Warren Buffett’s Berkshire Hathaway which gained one spot to fourth overall in 2016, technology giant Apple ranked 8th, Bank of America (11), Wal Mart (15), Microsoft (23), IBM (41) and Goldman Sachs (77). 

Titan, Gitanjali, PC Jewellers shine among top 100 global luxury firms
Three Indian companies -- Titan, Gitanjali Gems and PC Jewellers -- have for the first time featured among the top 100 global luxury goods firms, according to a Deloitte report. While Titan came in at the 32nd spot, Gitanjali Gems stood at 40 and PC Jewellers at 44, said the ‘Deloitte Global Powers of Luxury Goods 2016’ report. Among the top 10 companies globally, the top three were luxury conglomerates Louis Vuitton SA, Richemont and Est e Lauder, the report said. Swatch Group, which includes licenced watch brands Breguet, Longines, Omega and Rado, lost the top position as the ‘highest net profit margin top 10 company’ that it had held for the previous two years to Louis Vuitton. 

“We are on the verge of entering into the second half of ‘decade of change’ for luxury goods sector with an expectation of remarkable changes by 2020. “Due to economic challenges, there is a possibility that the global luxury goods sector is likely to grow slow in 2016 in important markets such as China and Russia,” said Anil Talreja, Partner, Deloitte Haskins and Sells. “However, we see India as a growing market for luxury goods due to key factors like improved purchasing power, better consumer buying behaviours, the merging of channels and business model, the growing importance of the millennial consumer and the continued impact of the global economy,” he added. The number of all-round high performers doubled, with 15 companies achieving double-digit growth in luxury goods sales. 
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