ONGC features in developing nation TNCs’ list
However, there is no Indian entity in the list of top 100 TNCs in 2004 worldwide, although Mittal Steel - owned by NRI steel tycoon L N Mittal - finds a place at 76th position.
By PTI |
NEW DELHI: State-run Oil and Natural Gas Corporation is the only Indian company ranked in terms of foreign assets that figures in a UN agency's list of top 100 Transnational Corporations from developing countries.
However, there is no Indian entity in the list of top 100 TNCs in 2004 worldwide, although Mittal Steel - owned by NRI steel tycoon L N Mittal - finds a place at 76th position.
ONGC is ranked 26 in the list of developing country TNCs. The list is dominated by firms based in Hong Kong, China, Korea and Singapore, as per the World Investment Report 2006 by United Nations Centre for Trade and Development (UNCTAD).
The public sector oil giant had foreign assets of 4.018 billion dollars and total assets of 18.599 billion dollars in 2004. The company recorded foreign sales of 1.263 billion dollars, while total sales stood at 14.492 billion dollars.
World's largest TNC in terms of foreign assets is General Electric. The US-based conglomerate has foreign assets worth 448 billion dollars and total assets of 750 billion dollars.
GE is followed by British telecom giant Vodafone, Ford Motors and General Motors of the US, British Petroleum, Exxon Mobil of US, Royal Dutch/Shell, Japan's Toyota Motors and French energy giant Total in the list of world's top TNCs. Mittal Steel ranks 76 with foreign assets of 17.7 billion dollars and total assets of 19.15 billion dollars.
The list of TNCs from developing nations is led by Hong Kong-based diversified group Hutchison Whampoa, with foreign assets of 67 billion dollars and total assets of 84 billion dollars. Hutchison is followed by Malaysia's Petronas, Singapore's SingTel and South Korea's Samsung.
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