India
UNLEASH THE POWER OF PUBLIC SECTOR GIANTS
SIBERIA TO SINAI, INDIAN PSUs ARE EVERYWHERE
2014-11-07 11:37
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It is heartening to note that out of the world’s 2000 largest companies, figured in Forbes Global 2000, and their 3,30,000 subsidiaries worldwide characterizing their influence in the global market, as many as 30 are India’s much neglected and criticized State-owned enterprises (SOEs). India’s SOE numbers are only next to the People’s Republic of China’s. The People’s Republic of China had 70 of its SOEs in the Forbes Global 2000 list. The Forbes study makes a stunning exposure of the SOEs, which are often characterized in India as ‘incompetent’ and ‘uncompetitive’, that over 10 per cent (204) of the world’s top 2,000 companies are state run. They came from 37 countries and accounted for a combined sales income of $3.6 trillion in 2011 – more than the GDP of such super-rich G-7 countries as Germany, France and the United Kingdom.