Reliance, Tatas among 100 emerging global challengers

Larsen and Toubro, Suzlon and Bharat Forge may be names not big enough on the global arena as of now, but they along with domestic giants like Tatas, Birlas, Mahindras and Ambanis figure among the 100 firms posing an "urgent threat to industry leaders" of the world.

According to a new list of 100 New Global Challenger Giants released here today by Boston Consulting Group (BCG), India is home to 20 such firms, next only China that accounts for 41.

Tata Group alone accounts for one-fourth of Indian participation with five companies "" Tata Steel, Tata Motors, Tata Consultancy Services (TCS), Tata Tea and Videsh Sanchar Nigam Limited (VSNL) "" figuring in the list.

Reliance Group, IT giants Infosys, Wipro and Satyam, automakers Bajaj Auto and Mahindra & Mahindra, pharma majors Ranbaxy, Dr Reddy's Labs and Cipla, Aditya Birla group's Hindalco Industries, L&T, Bharat Forge and Crompton Greaves are also on the list.

These new global challengers from rapidly developing economies are globalising so quickly that they pose an urgent threat to the industry leaders globally, the US-based management consultancy major said in an accompanying report.

BCG said that 17 new companies have joined the annual list of 100 emerging giants, including one from India.

These are the firms "that are growing fast, globalising aggressively, and reshaping global industries," it noted.

"With over $1.2 trillion in total revenues and more than $0.5 trillion in yearly purchases, the BCG New Global Challengers are already formidable. But their ambitions are daunting... Their combined revenues will reach $3.3 trillion by 2010 and a massive $11.8 trillion by 2015," BCG said.