Indian Oil tops 7 Indian firms on Fortune 500 list
Seven Indian companies have made it to the latest Fortune 500 list of the world's biggest corporations in terms of revenue, with the state-owned Indian Oil Corp (IOC) continuing to be the highest ranked Indian firm and Reliance Industries (RIL) jumping 53 places. In the list, IOC with 23% rise in revenues at $65.9bn was ranked 137th, up from the 168th position in 2017.
ONGC makes a comeback into the list with $47.5bn revenue
Richest Indian Mukesh Ambani-led Reliance Industries was the top private sector company from the country as it jumped from 203rd rank last year to 148th. It had a revenue of $62.3 billion in 2017-18. With $47.5 billion revenue, Oil and Natural Gas Corp (ONGC) made a comeback into the list with a ranking of 197th. It did not feature in the 2017 ranking.
Others include SBI, Tata Motors, Bharat Petroleum Corp
State Bank of India (SBI) with $47.5bn revenue was given 216th rank, jumping from 217th last year. Tata Motors improved its ranking from 247th last year to 232nd. So did Bharat Petroleum Corp Ltd (BPCL) that moved up to 314th position from 360th last year.
Walmart topped the overall list
Rajesh Exports was the seventh Indian firm on the Fortune 500 list, though its ranking plummeted to 405th this year from 295th last year. Ambani's RIL was the most profitable Indian firm on the list. On the globally most profitable list, it secured the 99th position. The overall list was topped by retail giant Walmart, followed by Chinese state-owned State Grid and Sinopec Group.
Companies generated $30 trillion in revenues in 2017
"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.