IT services and outsourcing provider Wipro Limited and Tata Steel Ltd are the two Indian firms that have been selected among 135 world`s most ethical companies for 2018 by the US-based think tank Ethisphere Institute.

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The 135 companies dedicated to "defining and advancing the standards of ethical business practices" were selected from 23 countries across 57 industries, Ethisphere said in a statement late on Monday.

Microsoft, Dell, Salesforce and Adobe are some of the global tech giants who figured in the 2018 list.

"Over the last 12 years, we have repeatedly seen that those companies who focus on transparency and authenticity are rewarded with the trust of their employees, their customers and their investors," said Ethisphere CEO Timothy Erblich.

"While negative headlines might grab attention, the companies who support the rule of law and operate with decency and fair play around the globe will always succeed in the long term," Erblich added.

The listed ethical companies outperformed the large cap sector over five years by 10.72 per cent and over three years by 4.88 per cent.

"We are honoured to be listed among the World`s Most Ethical Companies for the fifth consecutive year," said Michael Dell, Chairman and CEO of Dell Technologies.

"Ethics and integrity matter at Dell. We work hard to earn our customers` trust, improve our communities and inspire our team members through sound, ethical decision-making," he added.

The institute will organise an event in New York on March 13 to felicitate the companies where PepsiCo Chairperson and CEO Indra Nooyi is expected to deliver the keynote address.

"At Microsoft, trust and integrity are core to our values and critical to our success. We`re passionate about applying the power of technology to improve our world, and that starts with doing business in a way that builds and maintains trust with our customers," said Microsoft President Brad Smith.