TIME World's 100 Best Companies: Infosys only Indian firm to make it to list
Infosys claimed the 64th spot in this esteemed ranking, which saw a presence of industry titans such as Microsoft, Apple, Alphabet, and Meta Platforms.
In the 2023 edition of the World's Best Companies list compiled by TIME Magazine and online data platform Statista, Infosys Ltd, an IT giant from India, stands as the only Indian company to secure a position among the top 100.
Infosys secured the 64th position in this prestigious ranking, which is dominated by leading tech giants like Microsoft, Apple, Alphabet (the parent company of Google), and Meta Platforms (formerly known as Facebook).
TIME and Statista's collaborative effort has identified a total of 750 companies that are making significant contributions to shaping the global economic landscape.
These rankings were determined through a formula that took into account various factors, including revenue growth, employee satisfaction surveys, and an analysis of environmental, social, and corporate governance (ESG) or sustainability data.
Interestingly, the rankings unveiled a shift in the global economic landscape. Traditional manufacturing and consumer goods companies, which historically played a pivotal role in driving the global economy, were being surpassed by fast-moving technology and business services firms.
TIME Magazine elaborated on this trend, explaining that technology companies performed exceptionally well in these rankings, primarily because their carbon emissions were considerably lower compared to companies with substantial physical footprints, such as airlines, hotels, or large-scale manufacturers.
This highlights the growing importance of environmental sustainability in evaluating a company's overall performance and impact on the world.
In addition to Infosys, seven other Indian companies earned a place on TIME's list, which highlighted a total of 750 companies making big contributions to the evolving global economic landscape.
In the rankings, Wipro Ltd secured the 174th position, followed by the 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 at 672nd place.
Also, Infosys earned another distinction by being named one of the top three professional services companies globally.