WORLD TRADE ORGANIZATION

The World Trade Organization (WTO) now has important impact on the global
economies. Concepts, rules, and agreements of the WTO have a considerable impact
on national economic policies. As a result, the WTO is receiving harsh criticism,
especially in poorer nations. The WTO actually has both beneficial and detrimental
effects.

The expanding number of GATT/WTO member nations demonstrates that these organisations
are becoming more widely accepted despite their flaws. Only 23 countries were GATT parties
in 1947, the year the agreement was signed. At the end of May 2016, there were 162 members
of the WTO, 118 of which are developing countries, up from 128 in July 1995, now 193
nations.
9.1 OBJECTIVES OF WTO
Increasing the level of living and income, encouraging full employment, growing
production and commerce, and making the best use of the resources available
globally, Introduce the idea of sustainable development, which holds that the
environment and development may coexist.

By encouraging nations to adopt predictable, non-discriminatory trade policies, we

can promote trade flows and ensure that developing nations, particularly the
developing ones, got high share in global trade. We can also establish procedures for
resolving trade disputes among members. The WTO performs the five specialised
tasks listed here.

The WTO will act as a venue for discussions between its members about their
multilateral economic relationships in areas covered by the Agreements.
3. The "Understanding on Rules and Procedures Governing the Settlement of
Disputes" is administered by the WTO.
4. The "Trade Review Mechanism" will be managed by the WTO.
5. The WTO shall cooperate, as necessary, with the IMF and IBRD.
 BENEFITS OF WTO
 GATT and WTO have made great progress in lowering trade obstacles, both
tariff- and non-tariff-related. Developing nations have benefited greatly from it as
well. Lot of nations' economies has grown as a result of investment liberalisation.
1. accelerated economic growth by increasing competition, improving quality and
productivity, utilising resources more efficiently, and lowering prices.
2. The WTO offers a venue for multilateral discussion of international economic
relations.
3. Resolve international disputes. Expansion of WTO association.
4. Trade agreement violations can be handled by the WTO. 7. The WTO conducts
extensive research on international commerce.
 DRAWBACKS/CRITICISMS:

As was already mentioned, the WTO has come under fire on several occasions. The
following list of problems and complaints is significant:

I. Developed nations predominate in WTO negotiations and decision-making.

2. Many developing nations lack the financial and intellectual resources necessary to
fully engage in WTO talks and negotiations.

3. Because emerging nations are dependent on industrialised nations, the latter are
able to deploy arm-twisting techniques.

4. Many policy liberalizations are implemented without taking into account the
vulnerability of developing nations or the potential negative impact on them.

5. The WTO has failed to make the rich countries abide by the organization's rules.

6. Developing nations have generally received a harsh deal.

I. WTO- DEVELOPING COUNTRIES

Subsidies in industrialized nations would benefit agricultural exporters; the increase in

food costs brought on by the elimination of subsidies may have a negative impact on
food importers.
 • According to reports, more than 100 emerging countries are net importers of food.
However, it should be anticipated that the increase in food costs will

• Trade Liberalization in Textiles: The annual value of global textile trade was
projected to be $240 billion. According to estimates, after MFA is gradually phased
away, global textile exports might increase by $25 billion annually.

• Unequal Participation: Although it was anticipated that the UR Agreement would

have a substantial positive impact on developing nations, these nations have run into
numerous obstacles.

• Due to their incapacity to contribute meaningfully to the negotiation process,

developing nations are at a disadvantage in the WTO system. They lack analytical
skills, which prevents them from understanding the implications and potential effects
of various ideas and agreements.

• The Government of India's delay in implementing protective measures with regard to

geographical indicators is to blame for the basmati rice issue and similar ones.

GLOBALIZATION OF BUSINESS

In its truest form, globalisation is a mode of conducting business that has been brought about
by the Trans nationalization of the global economy and shaped by corporate strategy. The
concept of "globalisation" refers to a mentality that sees the entire globe as one market and
bases corporate strategy.
 Globalisation encompasses the following:

 Doing, or planning to expand, business globally.

 Removing the distinction between the domestic and international markets and
expanding the company's perspective to include all markets.
 Placing the physical manufacturing and other facilities while taking into account
global economic trends, independent of national considerations.
 Base product development and production planning on factors related to the
worldwide market.
 Raw materials, components, machinery/technology, money, and other production-
related aspects are sourced globally from the best sources available.
 A management culture and organisational structure those are globally oriented.
 Rather than the head of an international division, the global operating units report
directly to the chief executive or executive committee. Not simply domestic or foreign
businesses are included in executive training. The management is hired from
numerous Countries, parts, and supplies are bought where they can be gotten for the
cheapest prices, while investments are made in areas with the highest expected
returns.

 A truly global company does not distinguish between its own home market and other
markets; rather, it sees the entire globe as one market. In other words, there is just one
market, the global market, and there is nothing like to a home market and a foreign
market. Of course, globalisation is not a recent phenomenon. There was a growing
trend toward globalisation from 1870 to 1913.

9.2 FEATURES OF CURRENT GLOBALIZATION

• The latest multilateral trade agreement, which aims to significantly liberalise

international trade and investment, as well as the technological and communication
revolutions gave the new phase of globalisation, which began around the middle of
the 20th century, more momentum. This new phase of globalisation was more
widespread, more pronounced, and overcharging since the late 1980s.

• • Expanding international markets for services including banking, insurance, and

transportation. • New financial markets that are deregulated, globally connected,
operational constantly, with action taking place remotely in real time, and that use
novel instruments like derivatives.

• • The liberalisation of antitrust regulations and the rise in mergers and acquisitions. •
International consumer markets and brands

• • Multinational corporations, who dominate the food industry, integrate their

marketing and production.

• • Global Trade The first global organisation having the power to compel national
governments to follow laws.

• • The establishment of an international criminal court system.

• • A flourishing global network of NGOs.

• • The proliferation and prominence of regional blocs, including the Southern African
Development Community, Mercosur, Association of South-East Asian Nations, and
the European Union.

• • Additional policy coordinating organisations: G-7, G40, G-22, G-77, and OECD

• • The globalisation of market economic policies, with more privatisation and

liberalisation than in previous decades.

• The widespread embrace of democracy as the preferred form of government.

• The scope and number of signatories to human rights agreements and instruments
are expanding, as is global awareness of these issues.

• A development action plan with agreed-upon objectives.

• Global environmental conventions and agreements— Desertification, the ozone

layer, hazardous waste dumping, and climate change.

• Multilateral trade agreements that address contemporary issues including the

environment and society.

• New international accords, more binding on national governments than any earlier
agreements, cover services, intellectual property, and communications.

• The Multilateral Agreement on Investment under debate

• New Communication Tools (Faster and Cheaper)

• Electronic communications and the Internet link numerous people at once.

• Cellular phones.

• Fax equipment.

• Cheaper and faster ground, rail, and vehicular transportation.

• Design with computers

9.3 ESSENTIAL CONDITIONS FOR GLOBALIZATION

• However, there are a few prerequisites that must be met by both the native economy
and the company for the business to successfully go global. As follows:
• Business Freedom: Unnecessary government limitations that impede globalisation,
such as import restrictions, bans on obtaining financing or other resources from
outside, bans on foreign investments, etc., should be lifted. The economic
liberalisation is therefore viewed as the first step in facilitating globalisation in this
regard.

• Facilities: Depending on the facilities available, such as infrastructural facilities, an

enterprise's ability to expand internationally from its home country base will vary.

• Government Backing: While unneeded government intervention impedes

globalisation, government support can promote it. Government assistance could come
in the shape of changes to laws and regulations, creation of infrastructure, R&D
assistance, financial market changes, and other common amenities.

• Resources are one of the key elements that frequently determine a company's capacity
for globalisation. Innovative businesses may find it simpler to gain a competitive edge
in the world market. Finance, technology, R&D capabilities, managerial experience,
company and brand image, human resources, etc. are examples of resources.
However, it should be highlighted that many small businesses have achieved great
success in international trade thanks to one or more of their advantages.

• Competitiveness: A key factor in determining a company's success in international

trade is its comparative advantage. Any one or more of the following factors,
including low prices and pricing, high product quality, and product differentiation,
technological leadership, outstanding after-sales care, robust marketing, etc. Small
businesses occasionally have an advantage over larger ones in particular business
situations or seasons.

• Orientation: Effective globalisation plans and a business firm's global orientation are
necessary for globalisation.

FOREIGN MARKET ENTRY STRATEGIES

The method of entering a foreign market is one of the most crucial strategic
choices in international business. On the one hand, a business can manufacture the
product entirely domestically and export it to a foreign market.
 On the other hand, a business might manufacture the entire product that will be
sold on a foreign market by itself. Between these two extremes, there are a number of
choices. The company's and the foreign market's pertinent factors are used to
determine which alternative is the best fit.

• Important methods for entering international markets include:

Exporting is the first step, followed by licencing or franchising, contract
manufacturing, management contracts, assembly operations, fully owned
manufacturing facilities, and joint ventures.
Countertrade; Mergers and acquisitions; Strategic alliances; and Location in a
Third Country

Exporting: The oldest method of entering a foreign market, exporting is still

widely used today. Global economic integration has increased as a result of
international trade expanding considerably more quickly than global output. In
situations where one or more of the following are true, exporting is the best course of
action.
1. The amount of international trade is insufficient to support production for the
international market.
2. The cost of production is expensive on the international market.
3. Production constraints on the international market, including issues with
infrastructure, the availability of raw materials, etc.
4. There are political and other dangers associated with investing in a foreign
nation.
5. The business lacks a permanent
• 6. Foreign investment is not encouraged by the foreign nation in question, or
there is no certainty that the market will be available for a long time.
7. Contract manufacturing or licencing are not superior options.
• Licensing and franchising: These two methods of entering international markets need
little in the way of resources and effort from the international marketer.

Under the terms of an international licencing agreement, a company in one nation

(the licensor) allows a company in another nation (the licensee) to utilise its
 intellectual property (such as patents, trademarks, copyrights, technology, technical
know-how, marketing skill or some other specific skill).
The royalty or fees that the licensee pays provide financial gain to the licensor. in
numerous In many developing nations, these fees or royalties—which are governed
by the government—do not exceed 5% of sales.
• Contract Manufacturing: Under contract manufacturing, a business engaged in
international marketing enters into agreements with businesses in other nations to
manufacture or assemble the items while keeping control of the product's marketing.
This is a typical procedure in global company. The benefits of contract manufacturing
are as follows.

1. The establishment of production facilities does not need the corporation to

commit resources.
2. It exempts the business from the dangers of making investments abroad.
3. The marketer can get started right away if idle production capacity is easily
accessible in the foreign country.
4. Frequently, the price of the goods gained is lower than if it were produced by
the foreign company by contract manufacturing.
5. Another benefit of contract manufacturing is that it is a less hazardous option
to get started.
• However, contract manufacturing has the following drawbacks.

1. In some circumstances, potential manufacturing profits will be lost.

2. Less management over the production process.
3. The development of potential rivals is another risk associated with contract
manufacturing.
4. It would not be appropriate in situations involving high-tech items, technical
secrets, etc.
• Management Contracting: A management contract forbids the firm providing the
management expertise from owning any interest in the company it is managing.

• Management contracts occasionally provide the management company with extra

perks. It may acquire the business of exporting or selling the managed company's
products in other markets, or supplying the inputs the managed company needs.
• Management contracts clearly benefit the clients, as is evident. They can offer
managerial assistance in the form of support services that would be difficult and
expensive to duplicate locally, organisational abilities that are not available locally,
expertise that is immediately available rather than developed, and management aid.

• Overdependence and a loss of control are two potential risks from the client's
perspective. The client should provide itself the opportunity to gradually improve its
own capabilities.

• Turnkey Contracts: Turnkey agreements are frequently used in international

commerce for the supply, construction, and startup of plants, such as those for steel
mills, cement plants, and fertiliser and oil refineries, plants etc.; Franchise agreements
and construction projects.

• The public sector or the government are the buyer in many turnkey contracts (or seller
in some cases).

• A turnkey contractor may outsource various project phases or components.

• Fully Owned Manufacturing Operations: Businesses with a long-term, significant

stake in a foreign market typically set up fully owned manufacturing facilities
overseas.

• There are many benefits to setting up manufacturing facilities abroad. It gives the
business total control over both production and quality. As opposed to licencing and
contract production, it does not run the danger of fostering prospective rivals.

• Assembly Operations: In addition to the economic advantage, assembling a product

for a foreign market there also offers certain additional benefits. Ordinarily, import
taxes on parts and components are lower than those on finished goods. Assembly
operations would, at least in part, meet the demand for "local content." The foreign
government's stance will be more favourable due to the creation of jobs than it would
be for the import of the finished good.

• Another benefit is that the investment required in the foreign country is far lower than
what is needed to set up full manufacturing facilities. Thus, there aren't many political
dangers associated with foreign investment.
• Joint Ventures: Entering a foreign market through a joint venture is a particularly
popular tactic. In the broadest definition, a joint venture is any type of partnership that
denotes collaboration for longer than a temporary duration (pure trading operations
are not included in this concept).

• Such a broad term covers a variety of joint abroad activities, operations, viz., 1. A
company's ownership and management are shared. 2. Contracts for licencing or
franchising. 3. Outsourcing production. 4. Contracts for management.

• A joint venture can only be successful if both partners have a specific contribution to
make that will benefit the other, reap certain benefits, and enjoy mutual respect and
trust.

• Location in a third nation: Taking advantage of the cordial commercial ties between
the third country and the relevant overseas market can be facilitated by location in a
third country.

• Third-country locations may also be used to lower production costs and, as a result,
raise prices competitiveness, facilitating market entry or enhancing/maintaining
market position.

• Such third country locations are encouraged by the incentives provided by

governments, particularly those of developing nations, for investment and exports. an
export In this regard, processing zones are particularly alluring.

• Mergers and Acquisitions (M&A): M&A has played a significant role in both market
entry and market expansion strategies. Many Indian businesses have also employed
this entry technique. Acquisitions and mergers offer certain benefits.

• It offers immediate access to markets and the distribution system. Distribution is one
of the most challenging aspects of international marketing, hence this is frequently a
crucial factor in M&A.

• Getting access to cutting-edge technology or a patent right is a key goal of M&A.

• Another benefit of M&A is that it lessens competition.

• Strategic Partnership In global business, strategic alliances are becoming more and
more common. Additionally known as entente and coalition, By forming alliances
with competitors, both current and potential, in key areas rather than engaging in
 direct competition, this strategy aims to increase the firm's long-term competitive
advantage.

• A strategic alliance may also be employed as a means of breaking into a market. For
instance, a company could enter a foreign market by partnering with a company there
to market or distribute the latter's products.

A competitive strategy more so than an entry approach is a strategic alliance.

1. Partnerships for the development of technology, such as research consortiums,
concurrent engineering partnerships, licencing arrangements, or joint development
contracts.
2. Marketing, sales, and service alliances, in which one firm uses, for its own
products, the marketing resources, etc., of another company on a foreign market. This
could be helpful.
3. A multiple activity alliance combines two or more different forms of
partnerships to gain access to international markets and ward off possible rivals.
Technology development and operations alliances are typically multi-country since
these types of activities can be used across multiple nations, however marketing
alliances are frequently single country alliances because multinational corporations
partner with distinct partners in each country.
• Countertrade: Although increasing exports, particularly in developing nations, is the
primary driver of countertrade's significant expansion, countertrade has also been
employed effectively as an entry strategy by a number of businesses. As an
illustration, Pepsi Co. used this tactic to enter the USSR.

• A type of international trade known as "countertrade" involves certain exports and

import transactions are connected directly to one another, and exports are used to
cover import costs rather than cash payments.

• Compensation Deal: In this agreement, part of the payment is made in cash and the
remaining half is made up of merchandise.

• Counter purchase: In a counter purchase deal, the seller accepts full payment in cash
in exchange for committing to spend a comparable sum of money in the foreign
nation within a set time frame.
 • The commerce between Pepsi Cola and the USSR is a prime illustration of this kind
of arrangement. Although Pepsi Cola received payment in rubles for the sale of its
concentrates in the USSR, it used this money to buy Russian goods like wine and
vodka.

Contraband: It has been expanding with government support. It should be emphasised

that the South Commission has supported countertrade as a helpful instrument for resolving
payment challenges, export credit issues, and foreign exchange challenges that could
otherwise be significant barriers to the expansion of trade between developing nations.

MULTI-NATIONAL CORPORATIONS (MNC’S)

Any corporation that is registered and conducts business in more than one nation at once is
referred to as a multinational corporation (MNC), sometimes known as a transnational
corporation. The corporation typically operates totally or partially owned subsidiaries in other
nations while having its headquarters in one of those countries.

Multinational corporations include Reliance, Google, Apple, Microsoft, IBM, Wal-Mart, and
Amazon, among others. Decentralized multinational corporations, globally centralised
corporations, international companies, and transnational enterprises are the four different
forms of multinational corporations. The first multinational firms were established to
establish port cities or colonial "factories."

The British East India Company established its own army and local government officials
in India, in addition to conducting trade between the mother nation and the colonies.

United Kingdom The Dutch East India Company and the East India Company, both
formed in 1602, are frequently referred to as the earliest international organisations.
10.1 NATURE OF MNC’S
Due to their global operations, businesses are frequently referred to as global enterprises. The
parent business oversees and manages the activities on a global scale. MNCs sell their goods and
services internationally, necessitating global management.

1. High net worth, turnover

A business must be big and have a tonne of assets, both material and financial, to qualify as a
multinational corporation. The company is able to make sizable earnings while maintaining
high goals.

2. Network of branches

Multinational corporations maintain operations for production and marketing in various

nations. The company may have many offices that are managed by a number of branches and
subsidiaries in each nation.

3. Control

In connection with the previous point, a single head office that is situated in the home country
oversees the operation of offices in other nations. As a result, the home nation serves as the
source of command.

4. Continued growth

International businesses continue to expand. Even if they have operations in other nations,
they constantly upgrade and engage in mergers and acquisitions in an effort to increase their
economic size.

5. Sophisticated technology

When a business expands internationally, they must ensure that their investment will increase
significantly. They must deploy capital-intensive technologies, particularly in their
production and marketing operations, in order to see significant growth.

6. Right skills

Only the best managers, those who can handle huge sums of money, use cutting-edge
technology, supervise staff, and manage a sizable business unit, are hired by multinational
corporations.

7. Forceful marketing and advertising

Spending a lot of money on marketing and advertising is one of multinational organisations'
most successful survival tactics. This is how they are able to market and sell every brand and
product they produce.

8. Good quality products

They can make premium goods because they use technology that requires a lot of investment.
 I. REASONS FOR BEING A MULTINATIONAL CORPORATION

Companies aim to become multinational corporations for a variety of reasons. The following
are a few of the most typical causes:

1. Access to lower production costs

Producing in another nation, especially one with a developing economy, typically results in
paying a lot less money on manufacturing costs. Although outsourcing is a technique to
accomplish the goal, developing manufacturing facilities abroad might be even more cost-
effective.

MNCs can benefit from economies of scale because of their size and expand their global
brand. Growth is achieved through strategic placement of manufacturing and services, which
enables the company to benefit from globally undervalued services, more effective and
affordable supply chains, and sophisticated technology and R&D capability.

2. Proximity to target international markets

Establishing a corporation in a nation where a company's desired consumer market is present

is advantageous. This lowers transportation costs and makes it simpler for global firms to get
consumer input, data, and intelligence.

Because the same brand vision may be implemented globally, global brand awareness
facilitates the transition between various nations and their particular marketplaces and lowers
per capita marketing expenses.

3. Access to a larger talent pool

Additionally, multinational firms are known for only selecting the top candidates from
around the globe for employment. This enables management to give their product or service
the best technical expertise and creative thinking.

4. Avoidance of tariffs

II. COMPANIES ARE IMMUNE FROM IMPORT QUOTAS AND TAXES IF

THEY PRODUCE OR MANUFACTURE THEIR GOODS IN A NATION
WHERE THEY ALSO SELL THOSE GOODS.

III. MODELS OF MNCS

The following are the different models of MNCs:

1. Centralized

The centralised model calls for businesses to establish an executive headquarters in their
home nation before constructing numerous manufacturing units and production facilities
abroad. The ability to dodge taxes, import quotas, and take advantage of lower production
costs is its most significant advantage.

2. Regional

According to the regionalized model, a business maintains its headquarters in one nation
while managing a network of outlying locations. The regionalized model includes
subsidiaries and affiliates that all report to the headquarters, unlike the centralised approach.

3. Multinational
In the multinational business model, a parent company runs operations in its own nation
while establishing subsidiaries abroad. The distinction is that the affiliates and subsidiaries
operate with more independence.
4.2.1.2 MERITS OF MNC’S AND DEMERITS OF MNC,S,

MNCs are said to benefit the host nations in the following ways. MNCs contribute to
raising the level of investment and, consequently, the revenue and employment in the host
nation. Transnational firms have evolved into means of transferring technology, particularly
to underdeveloped nations. Through professional management and the use of extremely
complex management approaches, they also spark a managerial revolution in the host
countries.
I. MERITS OF MNC’S
• The MNCs give the host nations the ability to boost exports while lowering
import demands.
• They strive to make the cost of manufacturing variables comparable
throughout the world.
• MNCs offer a productive way to integrate national economies.
• Multinational corporations have extremely effective procedures for research
and development thanks to their vast resources. As a result, they contribute
greatly to inventions and innovations.
 • MNCs foster domestic business because they might encourage and support
domestic suppliers in order to sustain their own operations.
MNCs contribute to boosting competition and dismantling domestic
monopolies.

II. DEMERITS OF MNCs

• However, MNCs have come under fire for a variety of reasons, some of which are
listed below. According to Leonard Gomes, the technology developed by MNCs is
not intended to meet the demands of developing nations, particularly those related to
employment and relative factor scarcities, but rather to maximise global profit.

• MNCs may destroy competition and acquire monopoly powers;

• MNCs retard growth of employment in the home country;
• The transfer pricing allows MNCs to avoid taxes by manipulating prices on
intra-company transactions.
• MNCs may evade or undermine national economic autonomy and control
through their power and flexibility.

GLOBAL FORTUNE 500 COMPANIES

Edgar P. Smith, a Fortune assistant managing editor, had the idea for the list. The
initial Fortune 500 listings only included businesses involved in the manufacturing,
mining, and energy sectors, which severely restricted the inclusion of many well-known
corporations. Smith's notion gained traction and served as the foundation for the well-
known annual list. A company had to generate $49.7 million in annual revenue to be
included on the list. General Motors (GM), which had yearly revenues of $9.8 billion,
was the top firm on the first 1955 Fortune 500 list.
1995 saw the Fortune 500's biggest transformation. The original manufacturing,
mining, and energy corporations were still on the updated list, but for the first time,
service businesses were also included.
Every year, Fortune magazine compiles and publishes The Fortune 500, a list that
ranks 500 of the biggest American firms according to total revenue for the corresponding
fiscal years. The list consists of privately held businesses whose revenues are disclosed in
the public as well as publicly traded businesses. The Fortune Global 500, often known as
 Global 500, is a rating of the top 500 companies globally based on sales that is released
every year. Each year, Fortune magazine compiles and publishes the list.
Fortune Global 500 companies list 2022: Top 10 companies

Company Change in Years on

Rank Revenues
Name Rank Global Rank

1 Walmart $572,754 - 28

2 Amazon $469,822 1 14

3 State Grid $460,616.9 -1 22

China
4 National $411,692.9 - 22
Petroleum

Sinopec
5 $401,313.5 - 24
Group

Saudi
6 $400,399.1 8 4
Aramco

7 Apple $365,817 -1 20

8 Volkswagen $295,819.8 2 28

China State
9 Construction $293,712.4 4 11
Engineering

10 CVS Health $292,111 -3 27

SOURCE: FORTUNE 500.INFO WEBSITE

I. BREAKDOWN BY COUNTRY

As of August 2022, this is the list of the top 10 countries with the highest revenues top 500
companies.
 Breakdown by country

Rank Country Companies

1 China 145

2 United States 124

3 Japan 47

4 Germany 28

5 France 25

6 United Kingdom 18

7 South Korea 16

8 Switzerland 14

9 Canada 12

11
10 Netherlands

SOURCE: FORTUNE 500.INFO WEBSITE

 FORTUNE 500 INDIAN COMPANIES

First-ever Fortune India 500 rankings put Reliance Industries in second place, followed by
Indian Oil Corporation. State Bank of India, Bharat Petroleum, and Hindustan Petroleum, in
that order, took the following three positions. Nine Indian organisations, comprising four
from the commercial and five from the public sectors, are included in the Fortune Global 500
list for 2022.
I. Fortune Global 500 List 2022 Indian Companies
1. Life Insurance Corporation -98
2. Reliance Industries Limited -104
3. Indian Oil Corporation - 142nd
4. Oil and Natural Gas Corporation - 190th
5. State Bank of India -236th position
6. Bharat Petroleum -295th position
7. Tata Motors- 370
8. Tata Steel- 435

9. RAJESH EXPORTS- 437