Asia Bizz: Indian steel manufacturing giant Tata Steel and Indian global IT service company Wipro have been named as the world’s most ethical companies by the American research-based Ethisphere Institute. The two companies are the only Indian companies who have featured in the 2012 list of World’s Most Ethical Companies, prepared by US based Ethisphere Institute.

The managing director of Tata Steel, HM Nerurkar said that it was a great honor for Tata Steel to be recognized under such an important and prestigious parameter. Nenurkar added that ethical business principles and practices have been the key differentiators of the Tata Group as well as Tata Steel since its inception.

The annual list of the Ethisphere’s World’s Most Ethical Companies recognizes companies which truly go beyond making statements and also conduct business ethically by actually translating words in to actions. The annual World’s Most Ethical Company’s list revealed that 145 companies in countries like the US, Japan, Great Britain, Portugal and India stood out in the list for setting the highest standards of employee behaviour and conduct.

More than 5,000 global companies were evaluated by Ethisphere.

Ethisphere also evaluated those who come in the Standard & Poor’s 500 index on reputation, culture, corporate citizenship and other qualities.