Indian IT giant Infosys Ltd has achieved a significant milestone by being the sole Indian company to feature in TIME Magazine and online data platform Statista's esteemed list of the World's Best Companies of 2023. Infosys proudly occupies the 64th position on this prestigious list, which is dominated by tech giants like Microsoft, Apple, Alphabet (Google's parent company), and Meta Platforms (formerly Facebook).
This global ranking, which highlights 750 companies making a substantial impact on the world, sheds light on the evolving dynamics of the global economy.
The rankings were determined through a comprehensive formula that considered factors such as revenue growth, employee satisfaction surveys, and meticulous assessment of environmental, social, and corporate governance (ESG) or sustainability data.
Notably, these rankings underscore the ascendancy of fast-moving technology and business services companies, which are gradually supplanting traditional manufacturing and consumer goods companies that once held sway in the global economy.
TIME elaborated on this trend, stating, "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…"
However, it's not just the eco-friendly aspect that contributed to the success of tech companies in these rankings. Employee satisfaction played a pivotal role as well. The top four companies in the list scored the highest in employee rankings. Furthermore, these companies have recorded substantial financial gains over the past three years while remaining committed to essential social governance principles, such as reducing emissions and increasing gender diversity on their boards.
In addition to Infosys, several other prominent Indian companies also earned recognition on TIME's list, which featured a diverse range of 750 companies:
1. Wipro Ltd (Rank: 174)
2. Mahindra Group (Rank: 210)
3. Reliance Industries Ltd (Rank: 248)
4. HCL Technologies Ltd (Rank: 262)
5. HDFC Bank (Rank: 418)
6. WNS Global Services (Rank: 596)
7. ITC Ltd (Rank: 672)
Furthermore, Infosys garnered a special distinction by being named one of the top three professional services companies in the world.
This recognition not only elevates Infosys' global standing but also reflects the growing influence of Indian companies in the international business landscape. It underscores the importance of India's IT sector and its contribution to the global economy, while also showcasing the nation's commitment to sustainability and employee well-being.
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