Reliance Industries Enters Top 100 In Fortune 500 Companies List

Billionaire Mukesh Ambani-led Reliance Industries Limited (RIL) has jumped 10 spots to be included among the world's top 100 companies on the Fortune Global 500 list. On Tuesday, the ranking released by Fortune showed the conglomerate at the 96th spot on the list.

A PTI report said that it is the first time an Indian company has been able to achieve that level of ranking. RIL is already the most valuable company in India in terms of market capitalisation.

Earlier, in 2012, Reliance had managed to be ranked 99 in the top 100 but had slipped in its position in the subsequent years to fall to 215th in 2016.

On the other hand, state-owned Indian Oil Corp (IOC) slipped 34 positions to rank 151st on the 2020 ranking while Oil and Natural Gas Corp (ONGC) is ranked 190th, 30 notches lower than its last year's ranking.

The country's largest lender, the State Bank of India (SBI), has risen 15 ranks to 221st position.

Other Indian firms on the list include Bharat Petroleum Corp Ltd (BPCL) at rank 309th, Tata Motors at 337, and Rajesh Exports at 462.

Fortune said companies are ranked by total revenues for their respective fiscal years ended on or before 31 March 2020.

While Reliance had a revenue of $86.2 billion, IOC had revenue of $69.2 billion. ONGC had revenue of $57 billion and SBI had $51 billion.

Fortune's 2020 list is topped by Walmart with a revenue of $524 billion, followed by three Chinese companies - Sinopec Group ($407 billion), State Grid ($384 billion), and China National Petroleum ($379 billion), Royal Dutch Shell and Saudi Aramco.