No Indian firm in BCG's top 50 most innovative companies list
No Indian firm has found a place in the top 50, which is crowded by the tech companies in the US.
Apple, Alphabet, and Amazon—three big tech firms top the list of Boston Consulting Group’s (BCG) Most Innovative Companies 2021. It is for the second year in a row that Apple has claimed the top spot on this list.
No Indian firm has found a place in the top 50, which is crowded by the tech companies in the US.
As many as four Chinese companies feature in the top 50 list. Wireless networking equipment major Huawei, which faces allegations of backdoor surveillance, is at the 8th spot. Xiaomi, whose economical smartphones are hugely popular in India, is placed at 31st rank. Alibaba at 14th place and Tencent ranked 26th are the two China companies in the list of top 50.
“Successful innovation takes three things. Making innovation a priority. Committing investment and talent to it. And being ready to transform investment into results,” BCG said.
“Coming out of COVID-19, companies want—and need—to innovate. But too few are ready to rise to the challenge,” it added.
Vaccine makers in the list
The list also features four Covid-19 vaccine manufacturers. While Pfizer is at 10th place, AstraZeneca is ranked 49th. Johnson and Johnson is placed at 6th and Moderna 42nd. The number of healthcare companies rose to 10 in 2021 list from just 5 in 2020
Sector-wise
Technology and consumer goods account for more than half the list, with their representation at 32% each. Healthcare made up for 20%, transport and energy 12%, and media and telecom 4%.
BCG uses four variables to identify the top 50 innovative companies: Global mindshare, industry peer review, industry disruption, value creation.
The number of companies that reported innovation as their top three priorities is up 10 percentage points in 2021 to 75%—the largest year-on-year increase in the 15 global innovation surveys BCG has conducted since 2005.