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In a remarkable achievement, Indian IT giant Infosys has earned a coveted place on TIME Magazine's prestigious 'World's Best Companies 2023' list. Infosys, headquartered in Bengaluru, secured the 64th position in this esteemed ranking, making it the sole Indian company to be featured on the list.
The announcement was met with jubilation at Infosys, which swiftly shared the news on X (formerly known as Twitter). In their statement, Infosys proudly stated, "Infosys has been featured in TIME World’s Best Companies 2023 list. We are among the top 3 global professional services firms and the only brand from India in the Top 100 global rankings."
Infosys has been featured in TIME World’s Best Companies 2023 list. We are among the top 3 global professional services firm and the only brand from India in the Top 100 global rankings: https://t.co/Mvg9lRFxDV pic.twitter.com/dN6n0p76ZA
— Infosys (@Infosys) September 14, 2023
TIME Magazine collaboratively curated the list with Statista, and it primarily features leading Big Tech companies. Notably, the top four positions were dominated by global tech giants, including Microsoft, Apple, Alphabet (Google’s parent company), and Meta Platforms.
The list comprises an array of renowned organisations, including Accenture, Pfizer, American Express, BMW Group, Dell Technologies, Louis Vuitton, Delta Air Lines, Starbucks, Volkswagen Group, General Motors, and Ford, among others.
The ranking criteria for the 'World's Best Companies 2023' list encompassed factors such as revenue growth, employee satisfaction surveys, and a rigorous assessment of environmental, social, and corporate governance (ESG) data. Remarkably, the Big Tech sector faced significant challenges during the year, resulting in the layoffs of tens of thousands of workers since January.
However, it is noteworthy that the largest tech companies simultaneously demonstrated their prowess in benefiting investors, employees, and the environment. TIME pointed out, "Microsoft, for example, the top company in the global rankings, made $72 billion in its most recent fiscal year, a 63 per cent increase from 2020, while also reducing overall emissions by 0.5 per cent."
Accenture, based in Dublin, emerged as the frontrunner in terms of ESG ranking among all the companies featured on the list.
"The rankings show just who dominates the world economic order, with fast-moving tech and business-services companies unseating the manufacturers and consumer-goods companies that once drove the global economy," observed TIME Magazine, shedding light on the changing dynamics of the global corporate landscape.