The market value of 24 Indian CEO-led multinational corporations, which have a combined market value of nearly $5 trillion, has overtaken India’s current GDP. The government of a single nation most frequently uses the Gross Domestic Product to gauge the strength of its economy.
At least two dozen CEOs of multinational companies of Indian ancestry—from Neal Mohan of YouTube to Sunder Pichai of Google to Laxman Narasimhan of Starbucks—have overseen enterprises with revenues greater than the current GDP of India. According to sources, the market value of 24 Indian CEO-led multinational corporations, which have a combined market value of nearly $5 trillion, has overtaken India’s current GDP.
Given that Indians are renowned for their ability to lead, think creatively, and have a strong sense of entrepreneurial spirit, this achievement solidifies India’s position as a key player in the global economic community. Indian CEOs lead multinational corporations like Adobe Inc., Microsoft, Google Cloud, YouTube, IBM, Cognizant, Alphabet Inc., Starbucks, Albertsons Companies Inc., Wayfair, NetApp, OnlyFans, Palo Alto, Arista Networks, FedEx, Bata, Novartis, Flex, Ogilvy, VMware, Deloitte, Micron, Chanel, and Vimeo.
The total monetary or market worth of all the completed products and services produced within a nation’s boundaries during a certain time period is known as the gross domestic product (GDP). It serves as a thorough assessment of the state of the economy in a particular nation since it is a wide indicator of total domestic production. The government of a single nation most frequently uses GDP to gauge the strength of its economy. It is frequently regarded as the most potent statistical measure of country advancement and development in the whole globe.
Notably, while the combined market value of these corporations exceeded $ 5 trillion, India’s GDP is $3.73 trillion. The majority of these businesses are in the IT industry, although a small number are in the healthcare and other industries as well. It also demonstrates the strength of Indian enterprise and leadership in the global sphere. Data show that the Indian economy expanded at a pace of 6.1% in the last quarter of the previous fiscal, bringing the total growth rate for FY23 likely to 7.2%.
Let’s look at a few leading businesses:
Sundar Pichai is the CEO of Alphabet Inc., an American global technology giant. The company’s market valuation was $1.5 trillion as of June 2023. On October 2, 2015, Google underwent a restructure that resulted in its creation. The company’s sales increased from $257.63 billion in 2021 to $282.83 billion in 2022. The entire income that a business makes through the sale of its products or services is known as revenue.
The CEO of Microsoft Corporation, an American global technology company, is Satya Nadella, who is of Indian descent. The company’s market valuation was 2.27 trillion as of June 2023. The Microsoft Office package, the Windows family of operating systems, and the Internet Explorer and Edge web browsers among the company’s most well-known software offerings. The market capitalization, often known as market cap, is a measure of a firm’s value that takes into account all of the outstanding shares of a publicly listed company.
Basel, Switzerland-based Novartis AG is a biotechnology and pharmaceutical business. Vasant Narasimhan, the CEO of the business, is of Indian descent. The company’s market valuation was $205.8 billion as of June 2023. With revenues of USD 47.4 billion in 2019, one of the biggest pharmaceutical firms in the world is Novartis. The most recent financial statistics from Novartis state that the corporation is now making $8.44 billion.
With its headquarters in New York, the International Business Machines Corporation (IBM) is an American global technology company. Arvind Krishna is the company’s CEO, and it operates in 175 countries. The company’s market capitalization was $19.73 billion as of June 2023. The most recent financial records for Imperial Brands show that the company’s current revenue is $36.35.
Starbucks Corp. is a global franchisor and retailer specializing in coffee goods. Laxman Narasimhan serves as the company’s president. It is the biggest network of coffee shops in the world, with its headquarters in Washington. The corporation operated 33,833 locations as of November 2021, with 15,444 of them being in the United States. The company’s market valuation was $111.7 billion as of June 2023.