Business

7 Indian firms in Fortune 500 list;IOC tops, RIL up 53 ranks

Global 500 companies employ 67.7 million people worldwide.

New Delhi: Seven Indian companies feature in the US magazine Fortune 500 list of the world’s largest firms, with state-run Indian Oil Corp (IOC) remaining the top-ranked Indian company in the 2018 rankings and Reliance Industries (RIL) improving its position substantially.

American retail giant Walmart tops the latest Fortune listing, while Indian Oil jumped to 137th position, from its 168th rank last year. “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.

The Mukesh Ambani-led RIL, whose main oil and gas business has been supplemented with the addition of telecom player Jio, was the top private company from India as its ranking improved by 53 places to 148, from being the 203rd last year.

State-run explorer Oil and Natural Gas Corp (ONGC), which did not figure in the 2017 list, returned among the Forbes 500 with a ranking of 197th.

In the continuing good story for oil companies at a time of rising prices, two Chinese majors — China Petroleum and Chemical Corporation (Sinopec) and the China National Petroleum Corp (CNPC) — were at 3 and 4, respectively, while Royal Dutch Shell secured the 5th position on the list. State-run electric utility, State Grid Corporation of China is at second position in the Fortune 500 of 2018.

State-run oil marketer Bharat Petroleum Corporation Ltd (BPCL) moved up to 314th position, from 360th last year, while the government-owned State Bank of India (SBI) improved one place over last year to be at 216.

RIL most profitable

  • 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 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 $30 trillion in revenues and $1.9 trillion in profits in 2017.
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