Tuesday, November 23, 2004

Top 100 Indian American firms generated $2.3bn for 2003

The ninth edition of the study entitled "2004 VII Hundred" conducted jointly by the New York weekly News India-Times and Ventures International Inc says, top 100 companies owned or run by Indian Americans, generated $2.3 billion in revenues during 2003 and provided jobs to 18,491 workers. Productivity is at $124,000 per employee.
Only 21 listings were from the software sector, followed by 19 for professional services and 17 for manufacturing.
The eligibility criteria for participating in the study:
1. privately held
2. controlled by (CEO,President) must be Asian Indian origin
3. Minimum sales of $1 million
Ninety-two firms had made it to the 2003 list, as per the 8th edition of the survey, collectively generating $2.2 billion in revenues, providing jobs to 18,337 employees. Productivity is at $120,000 per employee.
Comparing 8th and 9th editions, the difference is only $0.1 billion in revenue.
$2.3Billion looks good for India, though it is almost nothing compared to other Asian counter parts in particular. Long way to go.

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