IT giant Infosys Ltd is the only Indian company to find a place in the top 100 list of the World’s Best Companies of 2023, compiled by TIME Magazine and online data platform Statista.
Infosys was placed at the 64th spot in a list that was topped by tech companies like Microsoft, Apple, Alphabet (the company that owns Google) and Meta Platforms (formerly Facebook).
TIME and Statista named a total of 750 companies changing the world in a new statistical ranking, throwing some light on the world economic order.
The rankings were based on a formula of revenue growth, employee satisfaction surveys, and rigorous environmental, social, and corporate governance (ESG, or sustainability) data.
The rankings showed that fast-moving tech and business services companies were unseating the manufacturers and consumer goods companies that once drove the global economy.
“Tech companies performed well… in part because their carbon emissions are so much lower than other types of companies with significant physical footprints like airlines, hotels, or big manufacturers…,” TIME said on its website.
It added, “But, they also ranked well because their employees are largely happy—the top four got the highest marks in employee rankings—and because they’ve posted such big financial gains over the last three years while still committing to social governance principles like lowering their emissions and appointing more women to their boards.”
Besides Infosys, seven other Indian companies found their names mentioned in TIME’s list, which featured 750 companies.
Wipro Ltd was placed at the 174th spot, Mahindra Group at 210th, Reliance Industries Ltd at 248th, HCL Technologies Ltd at 262nd, HDFC Bank at 418th, WNS Global Services at 596th and ITC Ltd was ranked 672.
Meanwhile, Infosys was also named among the top three professional services companies in the world.