FMCG conglomerate ITC replaces TCS as India's most admired company
FMCG conglomerate ITC replaces TCS as India's most admired company

NEW DELHI: Tobacco-to-FMCG conglomerate ITC has replaced Tata group's IT giant TCS as the country's most admired company on a Fortune magazine list, which has got as many as 19 new entrants including Cognizant, Birla group firm Idea Cellular and discom BSES Rajdhani Power Ltd.

In the latest list for the year 2014, ITC is followed by engineering and infrastructure major Larsen and Toubro (L&T), another FMCG giant Hindustan Unilever, carmaker Maruti Suzuki and public sector bank SBI among the top five most admired companies in India.

In comparison, the list for 2013 was topped by TCS, followed by HUL, ITC, Infosys and SBI at in the top-five.

TCS has moved down to the sixth position this year.

Releasing the third annual list of 45 most admired companies in India for the year 2014, the business magazine said there are as many as 19 new entities on the list including GMR Infra, Shapoorji Pallonji, Idea Cellular, BSES Rajdhani Power Ltd (BRPL), Cognizant and Abbott Pharma.

The list has been prepared in in collaboration with the Hay Group.In sectoral rankings, NTPC is at the top position for the power sector and is followed by Tata Power, BRPL, PowerGrid and BSES Yamuna Power in the top five.

These are followed by NPCIL, Adani Power, NHPC, CESC, Gujarat State Electricity, Suzlon Power, Kalpataru Power Transmission and Gujarat Urja Vikas Nigam.

Out of these, three companies have found place on the main list — NTPC at 22nd, Tata Power at 27th, BRPL at 35th position.

For the telecom sector, Vodafone India is on the top and is followed by Bharti Airtel, Idea Cellular, Tata Communications, Reliance Communications, Aircel, Tata Tele, MTNL, BSNL, MTS, Tulip Telecom and Uninor.

The list of pharma and healthcare sector is topped by Apollo Hospitals, followed by Abbott India, GSK Pharma, Cadila, Sun Pharma, Cipla and Ranbaxy, among others.

The rankings are based on a survey of over 1,500 companies as per responses from the top industry executives, including on the basis of peer group response.

 
Stay on top – Get the daily news from Indian Retailer in your inbox
The Impact of Red Sea Crisis on Retail Sector: Measures Logistics Players are Taking to Sustain Demand and Supply
The Impact of Red Sea Crisis on Retail Sector: Measures Logistics Players are Taking to Sustain Demand and Supply
 

The Red Sea crisis, sparked by escalating tensions in the region, has cast a shadow of uncertainty over various industries, with the retail sector being significantly affected. As the crisis disrupts vital shipping lanes and raises concerns about maritime security, ships are avoiding the Red Sea and choosing a longer route through the Indo-African region, it takes more time and effort to deliver goods. This crisis affects everything from electronics to clothing, impacting a wide range of products. 

The retail sector, reliant on global supply chains, faces formidable challenges as the crisis unfolds. The disruption of maritime routes poses to the timely delivery of goods, leading to potential shortages and increased costs. Moreover, heightened geopolitical tensions exacerbate market volatility, further complicating the situation for retailers already grappling with the aftershocks of the pandemic. Data from the Centre for Monitoring Indian Economy (CMIE) reveals that shipping rates for Very Large Crude Carriers (VLCC) soared to their highest point since November 2023, experiencing a notable 3.5 percent month-on-month escalation to $48,171 per day in February but to tackle this situation logistics companies are deploying a range of measures to navigate the stormy waters and uphold the resilience of the retail sector.

One significant measures comes in the form of leveraging air freight as a mode of transport. With traditional maritime routes facing increased scrutiny and potential blockades, air transport offers a viable alternative for expedited delivery of goods. While typically more expensive than sea freight, air cargo enables logistics players to ensure timely delivery, albeit at a premium. By incorporating air freight with adequate in-land transportation into their supply chain strategies, logistics companies can reduce the risk of delays and shortages, thereby bolstering the stability of supply chains.

Furthermore, logistics players are prioritizing insurance coverage on goods as a proactive risk management measure. Recognizing the heightened security risks associated with maritime transport in crisis-affected areas, insurers are offering tailored policies to protect cargo against potential losses or other unforeseen events. By securing comprehensive insurance coverage, logistics companies provide added assurance to retail stakeholders and mitigate the financial impact of supply chain disruptions. This proactive approach not only safeguards the interests of all parties involved but also fosters confidence in the reliability and resilience of supply chains amidst geopolitical uncertainties.

In addition to these operational measures, logistics players are also collaborating closely with retail partners to develop contingency plans and ensure effective communication and coordination in times of crisis.

In conclusion, the Red Sea crisis has caused significant disruptions in global supply chains, particularly impacting the retail sector. With vital shipping lanes disrupted and concerns about maritime security escalating, logistics companies are facing formidable challenges. However, through innovative measures such as leveraging air freight and enhancing insurance coverage, they are striving to mitigate risks and uphold the resilience of supply chains. Collaborating closely with retail partners, they are developing contingency plans to navigate through these uncertain times. Despite the challenges posed by geopolitical tensions, their proactive approach underscores their commitment to ensuring the continuity and reliability of supply chains amidst adversity.

Jitendra Srivastava, CEO, Triton Logistics & Maritime

Jitendra Srivastava, CEO, Triton Logistics & Maritime

Visionary, strategist and go-getter, Jitendra Srivastava, the dynamic CEO of Triton Logistics & Maritime is the man behind Triton Logistics & Maritime’s nimble, agile and best-in-class operations. A stalwart of the logistics and maritime industry with over 25+ years of experience in International Freight Forwarding, Global Sales, Supply Chain and Logistics, Mr. Srivastava has ensured smooth sailing for TRITON LOGISTICS & MARITIME’s clients through the company’s innovative, efficient and time-bound deliveries. A veteran with years of experience creating, training and developing result-driven teams, Mr Srivastava is a respected figure in the global logistic landscape and has guided Triton Logistics & Maritime through the choppy waters of international trade, environmental challenges and shifting market dynamics.

 

 

Next Story
Also Worth Reading