Further to our earlier post on emerging market companies leading innovations worldwide, we learn of a new U.S. Boston Consulting Group study, which identifies 100 companies from emerging markets likely to overtake their Western competitors and become a formidable source of acquisition deals.
The Financial Times carries the story and lists several of the high-growth firms. Those include Chinese battery manufacturer BYD, India’s Bharat Forge, which makes automotive parts, and Mexican cement producer Cemex (see earlier post under Social Entrepreneur category).
The study predicts that these companies will likely double their income from outside their home country by 2010, and that at least 20 of the firms will become one of the top five companies in their category worldwide. Top sectors represented are mining, food processing, home appliances, technology equipment, telecoms, and consumer electronics.
How are emerging market companies forging ahead of the competition? One of the study's authors say developing countries have low worldwide costs, appealing products, modern facilities, and ambitious leaders going for them.
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