From YouTube CEO Neal Mohan to Google CEO Sunder Pichai to Laxman Narasimhan of Starbucks, at least two dozen Indian-origin CEOs have not only managed global businesses but also exceeded India’s current GDP. According to reports, 24 Indian CEO-led global companies – with a collective market value overtaking $5 trillion –surpassed India’s current GDP.
Indians are generally known for their leadership, ingenuity, and entrepreneurial zeal, and this accomplishment confirms the country’s place as a major participant in the world of business. Global companies such as Microsoft, Google Cloud, YouTube, IBM, Cognizant, Alphabet Inc, Starbucks, Albertsons Companies Inc, Wayfair, NetApp, OnlyFans, Palo Alto, Arista Networks, FedEx, Bata, Novartis, Flex, Adobe Inc, Ogilvy, VMware, Deloitte, Micron, Chanel, Vimeo, all are helmed by Indian CEOs.
Power of Indian Entrepreneurship
Notably, India’s Gross Domestic Product (GDP) stands at $3.73 trillion, while the market cap of these companies together surpassed $ 5 trillion. While most of these companies belong to the IT sector, a few are from healthcare and other sectors as well. It also showcases the power of Indian leadership and entrepreneurship in the world arena. According to data, the Indian economy grew at a rate of 6.1 per cent in the final quarter of the previous fiscal, likely pushing the overall growth rate to 7.2 per cent for FY23.
Let’s take a look at some top companies:
Microsoft Corporation is an American multinational technology corporation headed by Indian-origin CEO Satya Nadella. As of June 2023, the company registered a market cap of 2.27 trillion. Established in 1975, the company’s best-known software products are the Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. The market capitalization, commonly called market cap, is the total market value of a publicly traded company’s outstanding shares and is commonly used to measure how much a company is worth.
Alphabet Inc. is an American multinational technology conglomerate with Sundar Pichai at its helm. As of June 2023, the company registered a market cap of $1.5 trillion. It was created through a restructuring of Google on October 2, 2015. In 2022 the company made a revenue of $282.83 billion an increase from 2021 revenue of $257.63 billion. The revenue is the total amount of income that a company generates by the sale of goods or services.
Novartis AG is a biotechnology and pharmaceutical company based in Basel, Switzerland. The company is headed by Vasant Narasimhan — a CEO of Indian origin. As of June 2023, the company registered a market cap of $205.8 billion. Novartis is one of the largest pharmaceutical companies in the world with sales of USD 47.4 billion in 2019. According to Novartis’s latest financial reports, the company’s current earnings are $8.44 billion.
Starbucks Corp. is an international retail company and franchisor specialized in coffee products. The company is headed by Laxman Narasimhan. Headquartered in Washington, it is the world’s largest coffeehouse chain. As of November 2021, the company had 33,833 stores in 80 countries, 15,444 of which were located in the United States. As of June 2023, the company registered a market cap of $111.7 billion.
The International Business Machines Corporation (IBM)is an American multinational technology corporation headquartered in New York. Spread over 175 nations, the company is headed by Arvind Krishna. As of June 2023, the company has a market cap of $19.73 billion. According to Imperial Brands’s latest financial reports, the company’s current revenue is $36.35.
WHAT IS GDP?
Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country’s economic health. GDP is most often used by the government of a single country to measure its economic health. It is often considered to be the world’s most powerful statistical indicator of national development and progress.