13 Indian firms in Forbes Asia's Fabulous 50 list

As many as 13 Indian companies, including Reliance Industries, Infosys Technologies and Tata Steel, have made it to the list Forbes' 50 best listed companies in the Asia-Pacific region.

The Forbes list is a mix of giant, established companies this year that list includes Australian miner BHP Billiton, Hong Kong conglomerate Noble Group and Indian oil and gas heavyweight Reliance Industries and smaller outfits such as Agile property Holdings, Anhui Conch Cement and digital China Holdings.

In the Forbes list, there are four Indian entities Reliance Industries, Bharti Airtel, Infosys Technologies and Tata Consultancy Services among the top ten firms in terms of market value, while Reliance Industries and Tata Steel feature in the top ten league in terms of sales.

Other than RIL, Infosys and Tata Steel, the other Indian firms that have made it to the prestigious list include - Adani Enterprise, Axis Bank, Bharat Heavy Electricals, Bharti Airtel, HDFC bank, Jindal Steel & Power, Larsen and Toubro, Mahindra & Mahindra, Tata Consultancy Services and Wipro.

The Indian league had four newcomers this year like, Adani Enterprises, Axis Bank, Jindal Steel & Power and Tata Consultancy Services and among the Indian firms returning to the list include Bharat Heavy Electricals, Larsen & Toubro and Reliance Industries.

China has again outdone the rest of the Asia Pacific with the most number of firms (16) represented in the league, followed by India with 13 entities. The mainland firms together with five from Taiwan and three from Hong Kong account for almost half of the entries, giving Greater China the biggest regional representation on the list," Forbes said.

Taiwan moved up the ranking this year and is in the third place with five companies on the list, all of which are from the technology sector. Japan and Australia share the fourth place with four companies each on the list.

The list included companies that have revenue and market capitalisation of at least $3 billion and a five year record of operating profitability and return on equity.The other criteria for being in the list include long term profitability, sales and earnings growth, stock price appreciation, projects earnings, quality of management and entrepreneurial skills.