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    Default Top 20 firms hold $80 billion in assets abroad

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    Twenty top Indian companies together hold assets worth $80 billion (about Rs.4 lakh-crore) abroad with the top five among them holding a major share of $50 billion.

    Reliance Industries, Tata Group, Hindaclo, Infosys and Wipro figure among the top five transnational companies (TNCs) along with the public sector oil major Oil and Natural Gas Corporation. The total foreign revenues of these 20 companies are estimated at $126 billion with top five contributing 69 per cent of the total.

    Four of the top five companies belong to the manufacturing sector while four domestic IT majors Tata Consultancy Services, Infosys, Wipro and HCL Technologies are present in the list of top 20 firms. The figures form part of the first-of-its-kind Transnationality Index (TNI) prepared by the Indian School of Business (ISB) in association with its Brazilian counterpart Fundacao Dom Cabral.

    The TNI had two components, companies with overseas assets of more than $500 million and those with assets between $150 million and $500 million. The report, released in Mumbai on Wednesday, revealed how the economic downturn affected the top 20 companies whose international assets declined by 4 per cent and the number of employees dropped by 2 per cent during 2009-10.
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