Seven Indian companies have made it to the latest Fortune 500 list of the world's biggest corporations in terms of revenue, with state-owned IOC (Indian Oil Corporation) continuing to be the highest ranked Indian firm and Reliance Industries (RIL) jumping 53 places. The list was topped by US retail giant Walmart.
RIL was the most profitable Indian firm on the list, while on a global scale, it secured the 99th position. The list was topped by Apple, followed by State Grid. Chinese firms - Sinopec Group and China National Petroleum Corp (CNPC) occupied the 3rd and 4th positions, respectively. Royal Dutch Shell scored the 5th position. "The world's 500 largest companies generated $30 trillion in revenues and $1.9 trillion in profits in 2017. Together, this year's Fortune Global 500 companies employ 67.7 million people worldwide and are represented by 33 countries," Fortune said.
Indian Oil Corp (IOC)
Indian Oil Corp (IOC) with 23 percent rise in revenues at $65.9 billion was ranked 137th, up from the 168th position in 2017 in the new Fortune 500 list for 2018.
Reliance Industries Limited (RIL)
Reliance Industries Limited (RIL), lead by the richest Indian, Mukesh Ambani, was the top private sector company from the country at the 148th place. It jumped 55 spots from 203rd rank last year, with a revenue of $62.3 billion in 2017-18.
With $47.5 billion revenue, state-owned Oil and Natural Gas Corp (ONGC) made a come back into the list with a ranking of 197th. It was not featured in the 2017 ranking.
The country's largest public-sector bank, the State Bank of India (SBI) with $47.5 billion revenue was given 216th rank, a shade higher than 217th last year.
Tata Motors improved its ranking from 247th last year to 232nd. Also Read: Tata Motors Reports its Worst Quarterly Loss Since 2009
Bharat Petroleum Corp Ltd (BPCL) moved up to the 314th position from 360th last year. Headquartered in Mumbai, the government-owned company operates two large oil refineries located in Mumbai and Kochi.
Rajesh Exports was the seventh Indian firm on the list though its ranking slipped to 405th this year from 295th last year. It is into the business of refining, designing and selling gold jewellery.
Inputs from PTI