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Indian cos not that committed |
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By: Agencies |
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Date:
2008-11-15 |
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Place: New York |
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No Indian co appears in Fortune magazine's world's 100 most accountable firms in terms of their commitment to social goals
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SAVING GRACE: Vodafone had a CEO of Indian origin, Arun Sarin, which topped the list.
Pic/AFP | Indian billionaires may be standing head and shoulders with those in global rich lists, but when it comes to the world's 100 most accountable firms in terms of their commitment to society and environment, not a single entity from the country has managed to make the cut.
Indian connection
However, there are two companies led by persons of Indian origin steel tycoon Lakshmi Mittal-run ArcelorMittal and Vikram Pandit-led Citigroup that have been included in the annual global list published by US magazine Fortune. Pandit-led Citi has jumped 15 places to 17th rank in the accountability ranking, while ArcelorMittal is now placed at the 73rd position.
The list has been topped by British telecom major Vodafone, which is present in India through a joint venture with Ruias-led Essar group and had an Indian origin person, Arun Sarin, as its CEO till August.
Vodafone, which has moved to the top from its fifth position last year, is followed by US diversified conglomerate General Electric, British financial services giant HSBC Holdings, French telecom firm France Telecom (4th) and UK banking major HBOS in the top five.
The 100 most accountable companies are selected from among those included in the Fortune Global 500 list, which ranks the companies "by the quality of their commitment to social goals" and on the basis of annual turnover.
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