Fortune Global 500 list : Reliance Industries has been ranked 86th in this year’s list of Fortune Global-500. Its position has improved by two places compared to last year. Reliance Industries remains at the top among Indian companies. Reliance Industries was ranked 88th last year. In three years, it has jumped 69 places in the list. Reliance was ranked 155th in the year 2021. Releasing the 2024 list on its website, Fortune said that Reliance Industries has been maintaining its place in this global list for 21 consecutive years. The company’s revenue last year was $ 108.8 billion while the profit was $ 8.4 billion.
5 out of 9 are government companies
Nine Indian companies feature in this year’s rankings. Five of these are public sector. Insurance major Life Insurance Corporation of India (LIC) climbed 12 spots to 95th position in the 2024 list, while public sector Indian Oil Corporation (IOC) slipped 22 spots to 116th. State Bank of India (SBI) climbed 57 spots to 178th position. Among Indian companies in the list, Oil and Natural Gas Corporation (ONGC) and Bharat Petroleum Corporation Ltd. (BPCL) slipped 22 and 25 spots respectively to 180th and 258th positions respectively.
Tata Motors ranked 271
Tata Motors jumped 66 spots to 271 while HDFC Bank was at 306 and Rajesh Exports at 463 on the list. According to Fortune, US retail giant Walmart has remained at the top spot for the 11th consecutive year while Amazon is at the second spot (was at fourth last year). Saudi Aramco was at the fourth spot on the list, down from second last year. However, with a profit of $121 billion, it was the most profitable company on the list for the third consecutive year.
Chinese company in third place
Among Chinese state-owned companies, power unit State Grid is ranked third in the list. Two other Chinese companies in the top 10 are Sinopec Group at fifth and China National Petroleum at sixth. Apple is at seventh place in the list. Fortune said, “The Fortune Global-500 is our annual list of the 500 largest companies in the world. It is assessed on the basis of total revenue.” The companies have been assessed on the basis of total revenue of their respective financial years ending on or before March 31, 2024.
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