Fortune 500 List

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Oil-to-telecom-to-retail conglomerate Reliance Industries Ltd continues to be the highest-ranked Indian firm on the Fortune Global 500 list, jumping two places to be ranked at No.86 in the 2024 ranking. The firm was placed at No.88 in last year's ranking and has gained a whopping 69 places in the last three years - from being placed at No.155 in 2021 to being at No.86 in 2024. Releasing the 2024 list, Fortune on its website said Reliance has been on the 500 list for 21 years now. It had revenues of USD 108.8 billion and a profit of USD 8.4 billion last year. The 2024 ranking has nine Indian firms, five of them from the public sector. Insurance behemoth Life Insurance Corporation of India (LIC) jumped 12 places to be ranked at No.95 on the 2024 list while state-owned Indian Oil Corporation (IOC) slid 22 places to 116. State Bank of India (SBI) soared 57 spots to rank at No.178. Oil and Natural Gas Corporation (ONGC) and Bharat Petroleum Corporation Ltd (BPCL) were ranked at No.180

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Mukesh Ambani-led Reliance Industries has jumped 42 places to become the highest-ranking Indian firm on the Fortune Global 500 list. State-owned Indian Oil Corp (IOC) had been the top-ranked Indian company on the list and was first on the Fortune India 500 list which was started in 2010. "This year, ranked 106, Reliance Industries (RIL) has replaced IOC (117) as the top-ranked Indian company on the Global 500 list," Fortune said. RIL's revenue soared 32.1 per cent from USD 62.3 billion in 2018 to USD 82.3 billion in 2019. In comparison, IOC clocked a 17.7 per cent growth in revenue from USD 65.9 billion to USD 77.6 billion. "Over the past 10 years, RIL's revenue rose at a compounded annual growth rate of 7.2 per cent from USD 41.1 billion in 2010, while that of IOC rose at 3.64 per cent from USD 54.3 billion in 2010," it said. Besides, RIL and IOC, Oil & Natural Gas Corp (ONGC), State Bank of India (SBI), Tata Motors, Bharat Petroleum Petroleum Corp Ltd (BPCL) and Rajesh Exports .

In pics: Indian companies featuring on the Fortune 500 list, 2018

Fortune 500 is a ranking of the biggest companies in the world by revenue. Seven Indian companies have made it to the list this year