Aggregate revenue of top 4 US companies exceeds India’s GDP!
Some 45 years ago, my father learnt from his professor of economics that annual revenue of top four American companies together was more than what whole of India could produce. So many decades later it is interesting to check whether the intense growth of Indian economy in recent years has changed the history.The latest list of top 500 American companies published by Fortune magazine reveals that had my father’s professor taught me the subject, he would have told me the same thing!
According to the list, the top four American companies based on their 2008 revenues are Exxon Mobil ($ 442.85 billion in revenue), Wal-Mart ($ 405.6 billion), Chevron ($ 263.16), and Conocophillips ($230.76 billion). These together clocked $ 1.34 trillion in revenues during 2008.
International Monitory Fund (IMF) has estimated India’s GDP at the current market prices to be $ 1.2 trillion for 2009. The gap between the two number though appears small has no hope to disappear even the next year since the country’s GDP is expected to be $ 1.22 trillion by then. This would however not hold true if the American companies see a sharp decline in business due to global economic woes and/ or India resumes its near double-digit growth.
It seems to be a rather long march for the biggest democracy towards economic prosperity!
Labels: Corporations
posted by Ranjit @ 5/03/2009 10:08:00 pm
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