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Forbes ranking : Five Indian firms among world’s most innovative

Washington, Sep 8 (): Five leading Indian companies – Larsen & Toubro, Infosys, Hindustan Unilever, Tata Consultancy Services and Sun Pharmaceutical Industries come under Forbes magazine ranking, under category, “The World’s Most Innovative Companies”, with 4 US companies at the top.

Larsen & Toubro is in the ninth place with 19 per cent annual sales growth, which is followed by Hindustan Unilever in the 12th place with 11.4 per cent sales growth. Infosys stands in 19th place with 12.7 per cent sales growth.

Tata Consultancy Services positions itself in the 29th place with 19.5 per cent sales growth and Sun Pharmaceutical Industries takes up 38th place with 14.6 per cent growth.

The four US companies that topped the chart are:

• Cloud computing king Salesforce.com
• Drug major Alexion Pharmaceuticals
• Internet retail giant Amazon.com
• Open source software leader Red Hat

Forbes said the analyses showed at the least 3 key things the innovative company do to sustain and create innovation premium.

The three key aspects are:

• How well the companies leverage process, people and philosophies
• Differentiates best in the particular class from next in that class when the innovation has to be kept alive
• Delivering innovation premium every year

Forbes magazine also complimented S.D. Shibulal, CEO and cofounder of Infosys (19th place this year and 15th place last year) as “both experimenter and observer”. Shibulal said that in his service of 30 years with Infosys, there is no job he has not done.

He has served as a sales person, done account managing, launched internet consulting, served as network expert, has helped in designing and launching its first e-commerce application, has worked as head of sales and delivery section, the magazine said.

Forbes said they have found successful leaders would personally understand the way innovation happen and try to sign their behaviour as philosophies and processes within their own organization.