Indian start-ups and companies are increasingly improving their global rankings and are performing at par with those from other developed and developing economies. Financial Times (FT) recently published a list of the 1000 fastest-growing organizations in the Asia Pacific region. More than 25 percent of the companies that made it to the final list were Indian. With a total of 271 companies listed, India Inc. reigned supreme. The list comprising of 1,000 organizations, features 11 developed markets of Asia-Pacific: Australia, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea and Taiwan.
FT, in collaboration with Statista, ranked the companies based on their three-year aggregated compounded annual growth rate (CAGR) from 2013 to 2016. This is the first time such a list has been compiled. Those who made it to the list from a pool of over 14,000 organizations were chosen on the criteria that they generated at least $100K in 2013 in revenues and at least $1 million in 2016. Subsidiary companies were not eligible to be included in the list.
Some Interesting Highlights of the FT list:
- India, with 271 organizations on the list, had the maximum number of companies amongst all countries. Japan came second with 190 names, with Australia running a distant third with 115 organizations.
- Many famous Indian start-ups were a part of the list: Furlenco (Rank 9), Delhivery (Rank 44), Zomato (Rank 49), Mountain Trail Foods (Rank 86), One97 Communications (Paytm; Rank 114), GrabOn (Rank 266) and Infibeam (Rank 418).
- Other well-known names that made it to the list are: TeamLease Services (Rank 324), MindTree (Rank 659), Apollo Hospitals Enterprise (Rank 728), Shemaroo Entertainment (Rank 779), PC Jeweller (Rank 797), PVR (Rank 815), Just Dial (Rank 830), Tech Mahindra (Rank 849), Blue Star (Rank 883), and JK Lakshmi (Rank 938).
Tokyo comes atop with most number of companies in the list in a single city, with a total tally of 134.
- Mumbai had the second highest number of companies (60).
- Delhi-NCR had 48 organizations on the list, whereas 24 were from Bengaluru.
- Technology based companies had a little less than 17% of the total share in the list, which is less than expected. Out of 1000 companies, 169 were working in core technology, whereas several others also overlapped with the domain. Other notable sectors were industrial goods and healthcare.
Prospa Advance, an Australian firm topped the list, with 16,066% growth during 2013-2016.
- Another notable feature of the list is that several ‘Support Services’ organizations working in staffing, recruitment, and employee engagement made their presence felt. Some global names are TeamLease Services, JAC Recruitment, SkillHouse, Ace Integrated, Employsure, and HiTech.
Why the Rise of Indian Companies?
This stellar performance by Indian organizations could be partly attributed to the fact that companies from Mainland China did not figure in the list. This, however, should not take away the credit from the encouraging and supportive business environment that has been building in India for the past few years. India’s remarkable rise in the Ease of Doing Business ranking in 2017, alongside stabilizing macro indicators of the economy means that it will attract more investor attention in the near future. Lists like these go a long way in building positive business sentiment and boosting the growth prospects of the economy.
With the job market looking to grow at a healthy pace this year, the recently announced budget focusing on igniting rural growth and investment and Indian organizations expecting stable growth, 2018 might as well be the year when the Indian economy is finally out of the woods. This can happen if factors like NPAs, inflation, industrial output, and agrarian distress are managed efficiently. Furthermore, it will be interesting to see how political and industry leaders can sustain the momentum this year, amidst unpredictable global political and economic challenges.
You can view the entire FT 1000: High-Growth Companies Asia-Pacific here.
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