INDIANS ON TOP
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Thanks to Nano, Tatas on 'most innovative' list
Published on Sat, Apr 19, 2008 at 00:23, Updated on Sat, Apr 19, 2008 at 00:37 in Business section
Tags: Businessweek, Ratan Tata , New York
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New York: India's two leading conglomerates, Tatas and Mukesh Ambani-led Reliance Group, have made it to the league of the world's 25 most innovative companies, riding on the cheapest commercial car Nano and an aggressive growth path, respectively.
In the list of world's 25 most innovative companies released in New York on Friday, Tata group is ranked at the sixth position, while Reliance Industries is at 19th spot.
The list, published in the April 28 edition of BusinessWeek magazine that hit the newsstands on Friday, has been compiled by the US financial publication in collaboration with Boston Consulting Group.
Both Tata and RIL have made it for the first time to the annual list which is topped by Apple Computer, the maker of iPod music players and Mac personal computers.
Apple is followed by Internet search giant Google, Japanese auto major Toyota, industrial conglomerate General Electric (GE) and software behemoth Microsoft in the top five.
About Tata group, BusinessWeek said that "Mumbai-based conglomerate jumps onto our list for the first time, fuelled by its paradigm-busting 2,500 dollar 'Nano' car for the masses".
"The car, from its Tata Motors unit, is the world's cheapest, thanks partly to a distribution model that sells the auto in kits to entrepreneurs who assemble them for buyers."
About RIL, it noted that "the Indian petrochemicals giant made it onto our list this year thanks to fans of its aggressive growth.
"But its ambitious plans to reach into grocery retailing, which is dominated in India by small shopkeepers who have rebelled against corporate entrants, have faltered," it added.
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