The two Indian companies however do not feature among the top 50 most admired companies in the world. The list ranks over 350 global companies from diversified fields across the world.
In the ranking of top metal companies, Tata Steel comes in at the fourth spot, up two notches from its previous rank of 6.
Public sector firm Oil and Natural Gas Commission (ONGC) is ranked 7th in the mining, crude oil production category, improving its ranking from its previous 10th position.
Among the top 10 companies on the 'World's Most Admired' companies list are online retail giant Amazon.com (rank 2), internet major Google (3), American conglomerate Berkshire Hathaway (4), coffee giant Starbucks (5) and beverages major Coca Cola (6).
Fortune said Apple was the most admired company, topping the list for the seventh year in a row, with not only USD 171 billion in revenues in financial year 2013 but also tremendous interest among fans and the market about its next big product.
"Bets are on a smartwatch or AppleTV, but the company is also reportedly turning its attention to cars and medical devices," Fortune said.
PepsiCo led by India-born CEO Indra Nooyi was on the 42nd spot while Ajay Banga-led Mastercard is also on the list but not in the top 50.
The other companies in the top 50 are Nike (13), IBM (16), Microsoft (24), Walmart (28), J P Morgan Chase (30), Goldman Sachs (34) and Facebook (38).