Hurun Global 500 List Features 20 Indian Companies Vs 12 Last Year; Reliance Most-Valued Indian Firm

Twenty Indian companies are now among the 500 most-valued firms in the world, according to the 2022 Hurun Global 500 released on Friday. This is an addition of eight new companies to the list as compared to last year. With a valuation of $202 billion, Reliance Industries was the most valuable Indian company on the list with 34th rank globally.

RIL was followed by Tata Consultancy Services with a market capitalisation of $139 billion and HDFC Bank with the total valuation of $97 billion. Sector-wise, financial services led the way with seven companies on the list, followed by software & services and energy with three companies each, among others.

Four companies controlled by billionaire Gautam Adani made the Hurun Global 500 for the first time — Adani Enterprises (worth $63 billion), Adani Transmission ($44 billion), Adani Total Gas ($43 billion), and Adani Green Energy ($40 billion).

A total of 250 or 50 per cent of the non-India Hurun Global 500 have a regional presence in India, spread across 10 cities, led by Mumbai with 86, and followed by Bengaluru with 52, Gurugram 32, New Delhi 30 and Pune with 13, according to the report by The Hurun Research Institute.

“India rose from 9th rank to 5th rank with 20 companies — 11 in Mumbai, four in Ahmedabad and one in each of Noida, New Delhi, Bengaluru and Kolkata,” it said.

Globally, the top-10 companies on the 2022 Hurun Global 500 list are Apple with $2,366 billion valuation, followed by Microsoft ($1,805 billion), Alphabet ($1,321 billion), Amazon ($1,215 billion), Tesla ($672 billion), Berkshire Hathaway ($624 billion), United Health Group ($499 billion), Johnson and Johnson ($444 billion), Exxon Mobil ($441 billion), and Visa ($394 billion).

Rupert Hoogewerf, chairman and chief researcher of Hurun Report, said, “The Hurun Global 500 are the backbone of the world’s economy. Together, these 500 companies had combined sales of $21.6 trillion, which is bigger than the GDP of China and India, and employed 43 million staff, equivalent to the working population of Germany.”

Hoogewerf added that this year, the Hurun Global 500 lost $11 trillion of value, losing all the value created last year but still $7 billion ahead of where the Hurun Global 500 were two years ago. The only sector that enjoyed strong growth was energy, especially the oil & gas companies. Other sectors that managed to grow a little or stay flat included confectionary, drinks and fast-food restaurants.

“The hardest hit sector was retail, especially e-commerce, on the back of soaring inflation, which in turn dragged down payments and delivery companies,” Hoogewerf said.

He added that by country, 80 per cent of the losses in value came from four countries: the US lost $5 trillion, China $2.9 trillion and Germany and Japan $600 billion each. By sector, $8 trillion of losses came from media & entertainment, retail, financial services, software & services, and consumer goods.

Zoom, Snap, and Adidas have been dropped out of the top 500 list this year.

Anas Rahman Junaid, MD and chief researcher at Hurun India said, “Global markets have had a bad year, with the exception of India, where the benchmark Sensex was up 12per cent. Hong Kong’s Hang Seng and Russia’s MOEX were both down by half, Korea’s KOSPI was down 31 per cent, Shenzhen Component Index was down 29 per cent, Nasdaq was down 21 per cent, Shanghai Composite Index was down 16 per cent, South Germany’s DAX down 15 per cent and the UK’s FTSE was flat.”

Saudi Aramco was the world’s most valuable listed state-controlled company, with a total value of $2.03 trillion. State Bank of India (SBI), at $62 billion, and the Life Insurance Corporation of India (LIC), at $45 billion, were the two biggest state-owned Indian companies.

In the Global 500 list, Hurun only consider non-state-controlled companies. “2022 Hurun Global 500, a list of the 500 most valuable non-state-controlled companies in the world. Companies were ranked according to their value, defined as market capitalisation for listed companies and valuations for non-listed companies. The cut-off date used was October 26, 2022,” the Hurun Research Institute said on Friday.

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