Infosys Technologies Limited made a winning sweep in the Businessworld Most Respected Companies Awards that was held in Mumbai on 29th October. The company remained India’s Most Respected Company – a place it has held since 2001. It topped the special categories of Most Ethical and Most Globally Competitive Companies; and was the Most Respected Company in IT sector category, topping all nineteen parameters of the survey.
Addressing the high profile gathering, the Chief Guest, Finance Minister P Chidambaram said, “Building this country and making it livable, a little more dignified for millions in this country is a collective effort. 13 years ago when reforms were launched, the government realized that a state-controlled economy was not sufficient. 13 years later, we have come to accept that space for the private sector must be enlarged”. This was welcomed with applause from the gathering that consisted of India’s leading industry lights – Anil Ambani (Reliance), Nandan Nilekani (Infosys), Dr. Anji Reddy (Dr. Reddy’s Labs), Jagdish Khattar (Maruti Udyog), A M Naik (L&T), Dr. Vijay Mallya (The UB Group), M S Banga (HLL), Naresh Goyal (Jet Airways), Gautam Singhania (Raymond), Raman Roy (Wipro Spectramind), Vikram Bakshi (McDonald’s India), Asim Ghosh (Hutch), A K Purwar (SBI), Baba Kalyani (Bharat Forge), Aditya Puri (HDFC), Peter Mukerjea (Star India), Sanjeev Sharma (Nokia India), Hemendra Kothari (DSP Merrill Lynch), Mahesh Kampani (JM Morgan Stanley), M B Lal (HPCL), Kumar S (Lifestyle) among others.
In addition to the Most Respected Company Awards that was bagged by Infosys (No1), Reliance (No 2) and Wipro (No 3) - awards were also given away to the Most Respected Companies in 17 sectors. In the Banking & Insurance sectors, two private sector banks – HDFC and ICICI – were ranked No 1 and 2 respectively, while last year’s winner, the state-owned SBI was pushed down to No.3. In the Auto Ancillaries sector (instituted this year) the high-profile tyre majors were unable to match the performance of No. 1, 2 and 3--Sundram Fasteners, MICO and Bharat Forge respectively. In the Consumer Durables sector, Nokia India was voted the Most Respected Company. What made the achievement noteworthy was that this year was the first time when mobile handsets were included in the Consumer Durables sector, propelling Nokia from a non-ranked company last year to No.1 this year.
In the IT sector, the top 5 of last year – Infosys, Wipro, TCS, Satyam and I-Flex – have retained their positions. In the Petroleum sector, HPCL moved up 5 places from its No.6 ranking of last year to finish first. NDTV moved up to No.2 in the Media & Entertainment sector, finishing a close second to Star India. NDTV scored higher than Star India in 8 of the 19 parameters of judgment while recording a tie in ‘Belief in transparency’. Reliance Infocomm, ranked No.11 in the telecommunications sector last year, came rushing through to No.3, beating other biggies such as Hutch, BSNL, Idea, MTNL & BPL Mobile.