IOC tops 7 Indian firms on Fortune 500 list, RIL jumps 53 places

New York: Seven Indian companies have made it to the latest Fortune 500 list of the world's biggest corporations in terms of revenue, with state-owned IOC continuing to be the highest ranked Indian firm and Reliance Industries (RIL) jumping 53 places.

In the list topped by retail giant Walmart, Indian Oil Corp (IOC) with 23 per cent rise in revenues at USD 65.9 billion was ranked 137th, up from the 168th position in 2017, Fortune said.

Richest Indian 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 USD 62.3 billion in 2017-18. With USD 47.5 billion revenue, Oil and Natural Gas Corp (ONGC) made a come back into the list with a ranking of 197th. It did not feature in the 2017 ranking.

State Bank of India (SBI) with USD 47.5 billion revenue was given 216th rank, a shade higher than 217th last year. Tata Motors improved its ranking from 247th last year to 232nd. So did state-owned Bharat Petroleum Corp Ltd (BPCL) that moved up to 314th position from 360th last year.

Rajesh Exports was the seventh Indian firm on the list though its ranking slipped to 405th this year from 295th last year. RIL was the most profitable Indian firm on the list. On the globally most profitable list, it secured the 99th position.

The list was topped by Apple. Two Chinese firms - Sinopec Group and China National Petroleum Corp (CNPC) - figure in the top 10, occupying 3rd and 4th positions, respectively. State Grid was ranked 2nd while Royal Dutch Shell got 5th position.

"The world's 500 largest companies generated USD 30 trillion in revenues and USD 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.