India in top 10 in Hurun Global 500 report
11 private firms from India have made it to the list of 500 most valuable companies across the world, according to the Hurun Global 500 report. These include Reliance Industries, Tata Consultancy Services, HDFC Bank, Hindustan Lever, Infosys, HDFC, Kotak Mahindra Bank, ICICI Bank & ITC, respectively. These companies cumulatively grew 14% and their collective value has been pegged at US$ 805 billion or nearly a third of the Indian GDP. The report has also ranked the country 10th on the chart. USA, China, Japan & Chile were the other top performers.
9 out of these 11 firms (except tobacco major ITC and second-largest private sector lender ICICI Bank), have gained in value during 2020. Thus, Reliance Industries saw a 20.5% jump in valuation to $168.8 billion as of December 1 and is ranked 54th globally. Other gainers are TCS (grew at 30% during the year to take its value to US$ 139 billion); HDFC Bank (grew 11.5% to US$ 107.5 billion), Hindustan Lever (grew at 3.3% to US$ 68.2 billion), Infosys (grew at 56.5% to US$ 66 billion), HDFC Ltd (grew at 2.1% to US$ 56.4 billion) and Kotak Mahindra Bank (grew at 16.8% at US$ 50.6 billion).