Tata Group Makes History: Only Indian Conglomerate to Feature in Top 50 Most Innovative Companies
Written by Sanjay Kumar
Multinational conglomerate company
- Parent organization: Tata Sons
- Founder: Jamsetji Tata
- Subsidiaries: Tata Motors, Tata Steel Ltd, MORE
- Customer service: 022 6665 8282
- Number of employees: 9,35,000 (2022)
- Revenue: 12,800 crores USD (2022)
- Founded: 1868, Mumbai
The Tata Group, a prominent conglomerate in India, has achieved a remarkable feat by being the sole Indian company to feature in the esteemed Boston Consulting Group (BCG) survey of the 50 most innovative companies worldwide. Securing an impressive 20th position in the rankings, the Tata Group’s accomplishment speaks volumes about its dedication to innovation and forward-thinking strategies.
The BCG ranking is the result of an extensive research and analysis process that involved surveying over 1,000 global innovation executives between December 2022 and January 2023. The survey evaluated companies based on four crucial dimensions, and the overall ranking was determined by averaging the normalized scores.
The Tata Group’s inclusion among the top 50 most innovative companies globally is a clear indication of its commitment to fostering an innovative culture and its unwavering pursuit of excellence. This recognition not only reinforces the Tata Group’s standing as a global industry leader but also serves as a testament to its continuous efforts in driving positive change and shaping the future.
The BCG rankings consider several parameters to assess companies, including global mindshare, industry peer review, industry disruption, and value creation.
The Most Innovative Companies of 2023
|41-50||Saudi Aramco||Coca-Cola||Mercedes Benz Group||Alibaba||Walmart||PetroChina||NTT||Lenovo||BMW||Unilever|
The latest BCG innovation list showcases a geographically diverse range of companies, with a roughly equal distribution between North America and the rest of the world. Europe and Asia are well-represented in the list, and for the first time, the Middle East has made its entry with oil giant Saudi Aramco securing the 41st position.
In contrast to last year’s rankings that featured multiple positions held by car companies, this year, energy entities have claimed five positions in the list.
According to the report’s creators, a key characteristic shared by the winners on this year’s BCG list is their consistent outperformance of the broader market. BCG highlights this as evidence of the correlation between superior innovation capabilities and overall performance.