1. Aditya Birla Group: Diversified holdings (Top 25 rank: 4)
2. Hindustan Unilever: Consumer products (Top 25 rank: 6)
3. ICICI Bank: Financial services (Top 25 rank: 7)
4. China Vanke: Real estate development (Top 25 rank: 22)
5. Infosys Technologies: Information technology
6. Wipro: Information technology (Top 25 rank: 23)
7. Mahindra & Mahindra: Automotive and farm equipment
8. Bharti Airtel: Mobile telecommunications (Top 25 rank: 24)
9. Whirlpool of India: Consumer appliances
10. Kotak Mahindra Bank: Financial services
11. Advanced Info Services: Mobile telecommunications
12. HNA Group: Airlines
13. SP Setia Berhad: Real estate development
14. Kasikornbank: Financial services
15. Coca-Cola Amatil: Nonalcoholic beverage bottling
16. Oil & Natural Gas Corp.: Energy
17. Mindtree: IT consulting
18. Marico: Consumer products
19. NZ Refining: Oil refining
20. Commonwealth Bank of Australia: Financial services

Europe

1. Banco Bilbao Vizcaya Argentaria (BBVA): Financial services (Top 25 rank: 12)
2. L’Oréal: Beauty products (Top 25 rank: 18)
3. Unilever: Consumer products (Top 25 rank: 19)
4. ArcelorMittal: Steel manufacturing
5. Siemens: Diversified manufacturing (Top 25 rank: 20)
6. Raiffeisen Bank International: Financial services
7. Novartis: Pharmaceuticals (Top 25 rank: 25)

Latin America

1. Natura: Beauty products (Top 25 rank: 13)
1. (tie) Companhia de Bebidas das Americas (Ambev): Beer and nonalcoholic beverages
3. Bancolombia: Financial services
4. Wal-Mart de México: Consumer retail
5. WEG Equipamentos Elétricos: Industrial manufacturing

North America

1. IBM: Information technology (Top 25 rank: 1)
2. General Mills: Food consumer products (Top 25 rank: 2)
3. Procter & Gamble: Consumer products (Top 25 rank: 3)
4. Colgate-Palmolive: Consumer products (Top 25 rank: 5)
5. McDonald’s: Food services (Top 25 rank: 8)
6. Whirlpool: Appliances (Top 25 rank: 9)
7. PepsiCo: Food manufacturer (Top 25 rank: 10)
8. General Electric: Diversified manufacturing and financial services (Top 25 rank: 11)
9. Deere: Industrial and farm equipment (Top 25 rank: 14)
10. Target: General merchandiser
11. 3M: Diversified manufacturer (Top 25 rank: 15)
12. Eli Lilly: Pharmaceuticals (Top 25 rank: 16)
13. McKinsey: Management consulting (Top 25 rank: 17)
14. Intel: Semiconductors (Top 25 rank: 21)
15. Capital One Financial: Diversified financials
16. Sonoco: Product packaging
17. VF: Apparel
18. Raytheon: Defense
19. Fluor: Engineering and construction services
20. UnitedHealth Group: Health care
21. Honeywell International: Diversified technology and manufacturing
22. AT&T: Telecommunications
23. Accenture: Management consulting and outsourcing
24. American Express: Diversified financials
25. Kiewit: Construction, engineering, and mining services

Note: Number of companies on each regional list is at judges’ discretion.

This article is from the November 21, 2011 issue of Fortune.