OREANDA-NEWS. July 5, 2011. Tata Steel has been named in FORTUNE magazine's 2011 List of World’s Most Admired Companies for the third consecutive year. The annual survey, conducted by FORTUNE magazine and Hay Group, a global management consulting firm, is given to top executives, directors and financial analysts, to identify the companies that enjoy the strongest reputations within their industries and across industries. Tata Steel has been ranked sixth in the ‘Industry-Metals’ category; the only company from India to have achieved this prestigious feat.

To compile the rankings, corporate reputation and performance were measured against ten key attributes: innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, quality of products and services, and global competitiveness. Tata Steel has stood out on all the parameters.

Receiving the trophy, Mr H.M. Nerurkar, Managing Director, Tata Steel stated, “At Tata Steel, it is our constant endeavour to improve upon key areas like innovation, talent management and community development in order to maintain our position as one of the most sustainable companies globally. From being at number 9 in 2010 to ranking 6th in 2011 in World’s Most Admired Companies is a strong indication that we are successful at what we are doing and we hope to do better in the coming years. We are delighted that we have been recognized by our peers and analysts in the global ranking of Most Admired Companies.”

Speaking on the occasion, Mr. Gaurav Lahiri, Managing Director, Hay Group India said, “I would like to congratulate the entire Tata Steel family on this significant achievement as this is a moment of pride not only for Tata Steel but also for the nation as it is the only Indian company to feature in top 10 in any sector in the Fortune ranking for two consecutive years. Not only this, Tata Steel has also moved up the rank in the ranking. I wish them great success in the coming years.”

Adding further, he said, “The unique proposition of World’s Most Admired Companies survey is that companies are rated both overall and relative their industry peers by executives, directors and analysts. This uncovers the business practices that make these companies highly regarded among their peers.  Such a unique methodology adds credibility to the survey thus making this survey a definitive report card on corporate reputations within their industries and across industries.”

The survey was conducted amongst Fortune 1,000 companies, non-US Global 500 companies with revenues of USD 10 billion or more and top foreign companies operating in the US. From 57 industries more than 673 companies from 32 countries were surveyed. FORTUNE's World's Most Admired Companies list is the definitive report card on corporate reputations. Hay Group has collaborated with FORTUNE annually since 1997 to identify, select and rank the World’s Most Admired Companies and uncover the business practices that make these companies highly regarded among their peers.