Mumbai: Leading Indian conglomerates, Tatas and the Mukesh Ambani-led Reliance group, have made it to the list of the world`s 25 most innovative companies, compiled by Business Week magazine.
Tatas, riding on the cheapest commercial car Nano, has taken the sixth place while Reliance Industries, which is on a high growth path is ranked 19th among 25 most innovative companies the world over. Both Tata and RIL have made it for the first time to the Business Week annual list.
The list, published in the 28 April edition of Business Week, has been compiled by the the magazine in collaboration with Boston consulting group.
Apple Computer, the maker of iPod music players and Mac personal computers, top the list, followed by internet search giant Google, Japanese auto major Toyota, industrial Conglomerate General Electric (GE) and software behemoth Microsoft, in that order.
"Mumbai-based conglomerate jumps onto our list for the first time, fuelled by its paradigm-busting 2,500 dollar `Nano` car for the masses," Business Week wrote about Tata Group in the report
"The car, from its Tata Motors unit, is the world`s cheapest thanks partly to a distribution model that sells the auto in kits to entrepreneurs who assemble them for buyers."
About RIL, it noted "the Indian petrochemicals giant made it onto our list this year thanks to fans of its aggressive growth.
"But its ambitious plans to reach into grocery retailing, which is dominated in India by small shopkeepers who have rebelled against corporate entrants, have faltered," it added.
Tata group, at its sixth position, has been ranked higher than companies like Nintendo, Procter & Gamble, Sony, Nokia, Amazon.com, IBM, Blackberry-maker Research In Motion, BMW, Hewlett-Packard, Honda motor, Walt Disney and General Motors.
Reliance Industries has beaten global giants like Boeing, Goldman Sachs, 3m, Wal-Mart, Target and fast-growing social networking website Facebook.
Business week has ranked total 50 firms on its website, including the top 25 innovative companies.
In a regionwise list of 20 most innovative companies, the magazine has ranked Tata and RIL at fourth and eighth positions in Asia.
Tatas have also been ranked at eighth and 13th ranks in Europe and North America.