India’s Tata Group and Reliance Industries Ltd were named recently to the list of the world’s 50 most innovative companies, according to the Boston Consulting Group.
Tata ranked 17th, down 4 ranks from 2009, and the Mukesh Ambani-led RIL was in 33rd place down 18 ranks from 2009. There were at least 15 companies from Asia on the list, compared to five in 2006.
There were five firms from Japan, five from China and Taiwan and three from South Korea. The report also said that 89 percent of Indian executives surveyed said innovation is the key to economic growth, while in the U.S. only 72 percent said innovation is important.
