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

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With a 23 per cent rise in revenues to $65.9 billion, Indian Oil Corp (IOC) is ranked 137th, up from its 168th position in 2017. IOC, commonly known as Indian Oil, is a state-owned oil and gas company with a registered office in Mumbai and primarily headquartered in New Delhi.

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Mukesh Ambani-led RIL 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. Reliance Industries Limited, headquartered in Mumbai, is engaged in energy, petrochemicals, textiles, natural resources, retail and telecommunications. On the globally most profitable list, it secured the 99th position.

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With $51.2 billion revenue, Oil and Natural Gas Corporation (ONGC) made a comeback into the list with a ranking of 197th. It did not feature in the 2017 ranking. ONGC Limited is an Indian multinational oil and gas company. It is a Public Sector Undertaking (PSU) of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas. It is India's largest oil and gas exploration and production company.

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State Bank of India (SBI), with $47.5 billion revenue, was given 216th rank, a step higher than 217th last year. SBI is an Indian multinational, public sector banking and financial services company. it is the largest bank in India with a 23% market share in assets, besides a share of one-fourth of the total loan and deposits market.

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Tata Motors is an Indian multinational automotive manufacturing company and a member of the Tata Group. Its products include passenger cars, trucks, vans, coaches, buses, sports cars, construction equipment and military vehicles.

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With a revenue of $45.8 billion, Bharat Petroleum Corp Ltd (BPCL) moved up to 314th position from 360th last year. Bharat Petroleum Corporation Limited refines crude oil and markets petroleum products in India. The company operates through two segments, Downstream Petroleum and Exploration and Production of Hydrocarbons.

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Rajesh Exports was the seventh Indian firm on the list with revenue of $29.1 billion. It's ranking slipped to 405th this year from 295th last year. Rajesh Exports Limited, a gold refiner, designs, manufactures and markets gold and diamond jewellery in India. The company operates a network of 80 retail jewellery showrooms under the brand name of SHUBH Jewellers, and distributes its products to the jewellery showrooms, as well as exports its products.

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The Fortune 500 list is topped by retail giant Walmart with a revenue of $500 billion. According to Fortune, Walmart's business in the US is transforming its website into an online mall offering a slew of brands and expanding its grocery delivery. Walmart is also making big moves in both China and India, looking to rev up international growth again.