Agriauto Industries, Cherat Packaging, Ferozsons Laboratories, Ghandhara Industries and Searle Company made it to the list in 2017.
According to Forbes, Ferozsons Laboratories, which made it to the list for the second time, grew 93 per cent last year.
India had its 11 companies appearing on the list in 2015, however this year only three made it to the list.
Forbes said that this year’s companies made it to the list mostly because of tapping global market. There were 13 countries’ candidates and they averaged 55% growth in sales, a 24% profit margin and 113% growth in earnings per share.
China clearly dominated the list, followed by Japan with 70 and 38 entries, respectively.
The companies with annual revenue between $5 million and $1 billion are included in this list.
Thinly-traded companies, those trading for less than a year, and those with worrisome accounting, management, ownership or legal troubles were disregarded from the list, Forbes said.