Highest investing companies in tax havens (in Rs. Crore)
| S.No | Company name | 2019 | Company name | 2020 | Company name | 2021 | Company name | 2022 | Company name | 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Reliance Industries Ltd. | 45256 | Tata Steel Ltd. | 22489.8 | Tata Steel Ltd. | 22489.8 | Tata Steel Ltd. | 22489.8 | Tata Steel Ltd. | 21716 |
| 2 | Tata Motors Ltd. | 10199.1 | Tata Motors Ltd. | 10199.1 | Sun Pharmaceutical Inds. Ltd. | 12028.8 | Sun Pharmaceutical Inds. Ltd. | 11352 | Tata Motors Ltd. | 10199.1 |
| 3 | Hindalco Industries Ltd. | 10159.4 | Hindalco Industries Ltd. | 10174 | Tata Motors Ltd. | 10199.1 | Tata Motors Ltd. | 10199.1 | Sun Pharmaceutical Inds. Ltd. | 9390.88 |
| 4 | Sun Pharmaceutical Inds. Ltd. | 9390.88 | Sun Pharmaceutical Inds. Ltd. | 9390.88 | Hindalco Industries Ltd. | 10175 | Bharti Airtel Ltd. | 8790.9 | Bharti Airtel Ltd. | 8790.9 |
| 5 | Bharti Airtel Ltd. | 8790.9 | Bharti Airtel Ltd. | 8790.9 | Bharti Airtel Ltd. | 8790.9 | I C I C I Bank Ltd. | 2354.1 | I C I C I Bank Ltd. | 2537.82 |
| 6 | I C I C I Bank Ltd. | 2955.18 | I C I C I Bank Ltd. | 3116.69 | I C I C I Bank Ltd. | 3489.46 | Dr Reddy'S Laboratories Ltd. | 1351.6 | Dr Reddy'S Laboratories Ltd. | 1351.6 |
| 7 | Grasim Industries Ltd. | 2636.25 | Grasim Industries Ltd. | 2636.25 | Grasim Industries Ltd. | 2636.25 | Infosys Ltd. | 1350 | Infosys Ltd. | 1350 |
| 8 | Dr Reddy'S Laboratories Ltd. | 1351.5 | Dr Reddy'S Laboratories Ltd. | 1351.5 | Dr Reddy'S Laboratories Ltd. | 1351.5 | Bajaj Auto Ltd. | 1218.72 | Bajaj Auto Ltd. | 1218.72 |
| 9 | Infosys Ltd. | 1337 | Infosys Ltd. | 1337 | Infosys Ltd. | 1350 | Tech Mahindra Ltd. | 1094.7 | Tech Mahindra Ltd. | 989.9 |
| 10 | Bajaj Auto Ltd. | 1218.72 | Bajaj Auto Ltd. | 1218.72 | Bajaj Auto Ltd. | 1218.72 | Tata Consultancy Services Ltd. | 677 | Tata Consultancy Services Ltd. | 677 |
| S.No | Company name | 2019 | Company name | 2020 | Company name | 2021 | Company name | 2022 | Company name | 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Reliance Industries Ltd. | 45256 | Tata Steel Ltd. | 22489.8 | Tata Steel Ltd. | 22489.8 | Tata Steel Ltd. | 22489.8 | Tata Steel Ltd. | 21716 |
| 2 | Tata Motors Ltd. | 10199.1 | Tata Motors Ltd. | 10199.1 | Sun Pharmaceutical Inds. Ltd. | 12028.8 | Sun Pharmaceutical Inds. Ltd. | 11352 | Tata Motors Ltd. | 10199.1 |
| 3 | Hindalco Industries Ltd. | 10159.4 | Hindalco Industries Ltd. | 10174 | Tata Motors Ltd. | 10199.1 | Tata Motors Ltd. | 10199.1 | Sun Pharmaceutical Inds. Ltd. | 9390.88 |
| 4 | Sun Pharmaceutical Inds. Ltd. | 9390.88 | Sun Pharmaceutical Inds. Ltd. | 9390.88 | Hindalco Industries Ltd. | 10175 | Bharti Airtel Ltd. | 8790.9 | Bharti Airtel Ltd. | 8790.9 |
| 5 | Bharti Airtel Ltd. | 8790.9 | Bharti Airtel Ltd. | 8790.9 | Bharti Airtel Ltd. | 8790.9 | I C I C I Bank Ltd. | 2354.1 | I C I C I Bank Ltd. | 2537.82 |
| 6 | I C I C I Bank Ltd. | 2955.18 | I C I C I Bank Ltd. | 3116.69 | I C I C I Bank Ltd. | 3489.46 | Dr Reddy'S Laboratories Ltd. | 1351.6 | Dr Reddy'S Laboratories Ltd. | 1351.6 |
| 7 | Grasim Industries Ltd. | 2636.25 | Grasim Industries Ltd. | 2636.25 | Grasim Industries Ltd. | 2636.25 | Infosys Ltd. | 1350 | Infosys Ltd. | 1350 |
| 8 | Dr Reddy'S Laboratories Ltd. | 1351.5 | Dr Reddy'S Laboratories Ltd. | 1351.5 | Dr Reddy'S Laboratories Ltd. | 1351.5 | Bajaj Auto Ltd. | 1218.72 | Bajaj Auto Ltd. | 1218.72 |
| 9 | Infosys Ltd. | 1337 | Infosys Ltd. | 1337 | Infosys Ltd. | 1350 | Tech Mahindra Ltd. | 1094.7 | Tech Mahindra Ltd. | 989.9 |
| 10 | Bajaj Auto Ltd. | 1218.72 | Bajaj Auto Ltd. | 1218.72 | Bajaj Auto Ltd. | 1218.72 | Tata Consultancy Services Ltd. | 677 | Tata Consultancy Services Ltd. | 677 |
Source(s): Authors’ computation based on the annual report of the companies
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