Other Indian companies on the list are Wipro (18), HDFC Bank (22), Tata Steel (32) and Mahindra & Mahindra (41).

China has again outdone the rest of the Asia Pacific with the most number of firms (16) represented in the league, followed by India with 13 entities.

'The mainland firms together with five from Taiwan and three from Hong Kong account for almost half of the entries, giving Greater China the biggest regional representation on the list,' Forbes said.

The list included companies that have revenue and market capitalisation of at least $3 billion and a five year record of operating profitability and return on equity.

The other criteria for being in the list include long term profitability, sales and earnings growth, stock price appreciation, projects earnings, quality of management and entrepreneurial skills.