Wipro and Tata Power are the only Indian entities named in the 2014 list of 'World's Most Ethical Companies' prepared by the US-based entity.
This year's 144 companies represent 41 industries and include 21 first-time entrants.
According to the media reports, the companies were chosen on the basis of various factors including corporate citizenship and responsibility, governance, culture of ethics, reputation, leadership and innovation.
Wipro and Tata Steel had bagged a place in the world's most ethical companies list in 2013 and 2012.
According to Ethisphere Institute, these companies "not only promote ethical business standards and practices internally, they exceed legal compliance minimums and shape future industry standards by introducing best practices today".