It analyzed 86 of the most profitable companies in the four highest-income industries: fashion, retail, automobiles, financial services, and technology.
While there is no Indian company on the list, the United States topped the list with 40 companies, followed by seven companies from China and Germany. six each from France and Japan; four each from Switzerland and the United Kingdom; three from South Korea; two from Sweden; and one each from Argentina, Canada, Italy, the Netherlands, Singapore, Spain and Taiwan.
Professor Howard Yu, author of the Future Preparedness Index, said the number of unicorns from India will surpass China for the first time in 2021, and multibillion-dollar companies such as Flipkart, Snapdeal and Ola have caused a storm in the ecosystem of Indian startups.
Well-established IT companies have a long history of bringing multinational companies to the region. But our ranking shows that the bottleneck is not with private companies, but at the level of India’s infrastructure – a problem that the state needs to address, not just at the national level.”
According to the professor, none of the major companies in the automotive sector belong to India, but this was not due to the inability of companies such as Tata and Mahindra to innovate.
“They can[innoveren]. But the smart vehicles of the future depend largely on software and electronics that interact with the city’s infrastructure. And even to take off an electric car, you need a network of superchargers. ”
“Ease of doing business remains paramount. More than four decades of liberalization have propelled India forward, but it still has a long way to go to compete on a global scale.
The professor noted, “The government’s handling of technological disruption will not outpace global competition. But state governments can and should work to keep India on the global map for companies to watch in 2022.”
The study found that companies that refocused in new directions before the pandemic outperformed their competitors, while COVID-19 served as a dramatic test case, rewarding companies that built their capabilities early and exposing institutional inertia for those who did. No.
According to the survey, sportswear brands Lululemon and Nike ranked first and second, followed by luxury brands Hermes, Burberry, Kering and LVMH in the fashion and retail sectors.
In the automotive sector, Tesla took the first place, while four traditional car manufacturers – Toyota, BMW, Ford and Hyundai – took second to fifth place.
In financial services, MasterCard and Visa topped the ranking, followed by Antgroup, Square and PayPal.
In terms of technology, the top five companies — Google, Amazon, Microsoft, Facebook and US-based semiconductor company AMD — have an entrepreneurial mindset, a willingness to expand from their core businesses, the ability to expand quickly, and sharing an inner vision for the future, according to the study.
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