Thirteen Indian firms have been named in a list of 100 fastest-growing small and mid-size companies in Asia, with some emerging on top in terms of sales and capital returns.
NEW DELHI: Thirteen Indian firms have been named in a list of 100 fastest-growing small and mid-size companies in Asia, with some emerging on top in terms of sales and capital returns.
According to 'Asia's Hot Growth Companies' list, prepared by US-based financial magazine 'BusinessWeek', India is home to a higher number of such companies than China, whose presence is limited to just eight firms. Besides, India is next only to Taiwan and Japan, which have been represented by 24 and 18 firms respectively.
There are 13 firms from Hong Kong, seven from Korea, four from Malaysia, nine from Singapore and two from Thailand.
The single firm from Pakistan is Packages Limited, a manufacturer of paper products is ranked at the 84th position.
Among the Indian firms, Lakshmi Machine Works is ranked 17th, followed by Kirloskar Brothers (18th) and Godrej Consumer Products (23rd).
Other Indian companies named in the list are Marico (40), Colgate-Palmolive India (45), Hexaware Technologies (53), GlaxoSmithkline Pharmaceuticals (60) Panacea Biotec (68), Bajaj Hindustan (72), Motherson Sumi Systems (79), Cummins India (83), I-flex Solutions (93) and Titan Industries (98).
Hong Kong-based Ajisen Holdings has been ranked at the top, followed by Raffles Education of Singapore.
In terms of highest sales in 2006, three Indian firms,Cummins India, Titan Industries and I-flex Solutions, are ranked first, second and third, respectively.
Cummins, which manufactures diesel, gas, and dual fuel engines for power generation and other industrial purposes, had sales of 498.8 million dollars, while Tata Group's Titan Industries recorded revenues of 491.2 million dollars.
Information technology solutions provider I-flex raked in sales of 484.3 million dollars.
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