The Boston Consulting Group (BCG) has prepared a list of 100 "new global challengers" -- the names of which many "executives at established industry leaders might not be able to pronounce," David Michael, co-author of a report released earlier this month, said at a business summit in New Delhi.

"Yet it's essential for every executive (in established companies) to develop clear strategies for dealing with this group of huge and ambitious companies," said Michael.

BCG is a leading global consultancy on business strategy.

In the list of 100 global challengers, spanning sectors from industrial goods, consumer wares and shipping to telecommunications and information technology, China is home to the largest number -- 41.

India follows with 20 companies. Brazil is in third place with 13 challengers, Mexico has seven and Russia six while others are from such countries as Indonesia, Malaysia, Poland, Russia, Thailand and Turkey.

"Complacency is not an option," Jim Hermling, another co-author, told AFP.

"They (the established companies) face an urgent threat."

The report comes as India's giant Tata Group looks poised to snap up prominent car brands Jaguar and Land Rover from struggling US car maker Ford, having already bought Britain's largest steel maker, Corus, earlier this year.

Chinese information technology group Lenovo has also been buying or eyeing up major brands.

Such companies in the rapidly developing economies, or "RDEs," are scaling up by moving into other countries and increasing output.

"They are rejecting limitations of organic growth and aggressively pursuing output investment and acquisitions," Hermling said.

"In fact, outbound mergers and acquisitions from rapidly developing economies are now exceeding the inbound to rapidly developing economies."

Companies in the developed world must respond nimbly by cutting costs, boosting innovation and possibly acquiring some of the fast-growing firms.

"Never before have so many potential competitors and customers arisen so quickly on a global scale," said Michael.

"For those who move fast, the challengers could become key clients, suppliers, and even strategic partners. For those who don't, the challengers will represent fierce competition and, in time, become potential acquirers."

Among companies on BCG's list from China are computer giant Lenovo and white goods maker Haier. The companies from India include the country's biggest software outsourcer, Tata Consultancy Services, and pharmaceuticals maker Dr Reddy's Laboratories.

From Mexico there is cement maker Cemex and wireless communications firm America Movil, while from Russia are Gazprom, Lukoil and aluminium producer Rusal.

The companies in the developing countries are going global because they realise being big in their home markets is not enough to continue growing and boost profits, the report said.

"The desire for growth ultimately drives globalisation," it said.

The firms already have 1.2 trillion dollars in total revenues and by 2010 their combined revenues will hit 3.3 trillion and 11.8 trillion by 2015.

In 2006, the top RDE companies completed 72 outbound acquisitions, up from 21 in 2000. The average size of transactions ballooned to 981 million dollars in 2006 from 156 million dollars in 2001.

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