Mukesh Ambani’s Reliance Industries Limited broke into the top 100 of the Fortune Global 500 list according to a report released by Fortune on Tuesday. The multinational conglomerate jumped 10 places to rank 96th on the list, the highest rank ever achieved by an Indian company.
The oil and telecom company had last broken in the top 100 in 2012 when it achieved the 99th position but slipped down over the years. The state-owned Indian Oil Corp (IOC) was the first Indian company to get a spot on the Fortune Global 500 list and also the highest-ranking one before the rise of Reliance Industries Limited (RIL). IOC slipped 34 positions to rank 151 and the other Indian companies on the list include Oil and Natural Gas Corp at 190, State Bank of India at 221, Bharat Petroleum Corp Ltd at 309, Tata Motors at 337 and Rajesh Exports at 462.
The companies are ranked by the total revenues for their respective fiscal years ended on or before 31st March, 2020. While Reliance had a revenue of USD 86.2 billion, IOC had revenue of USD 69.2 billion. ONGC had revenue of USD 57 billion and SBI had USD 51 billion according to a report in the Economic Times.
The list is topped by the U.S. company Walmart followed by the Chinese companies Sinopec Group, State Grid and China National Petroleum.
