RIL becomes highest-ranked Indian company on Fortune Global 500 list
Mukesh Ambani-led Reliance Industries Ltd. (RIL) becomes highest-ranked Indian company on Fortune Global 500 list. It has jumped 42 places and was ranked 106 this year.
In this year’s list, RIL replaced Indian Oil Corporation (IOC) which ranked 117 as top-ranked Indian company. State-owned IOC had been top-ranked Indian company on list for years and was 1st on Fortune India 500 list which started in 2010. In 2018’s Global 500 list, RIL was ranked 148th and IOC was at 137th place.
RIL’s revenue rose by 32.1% from $62.3 billion in 2018 to$82.3 billion in 2019 while IOC clocked a 17.7% growth in revenue from $65.9 billion to $77.6 billion.
Other Indian companies to feature on list: Oil & Natural Gas Corp (ONGC) was ranked 160th, State Bank of India (SBI) 236th, Tata Motors 265th , Bharat Petroleum Petroleum Corp Ltd (BPCL) 275th and Rajesh Exports 495th.
Top 10 Position:
- Walmart: United States (US) retail giant topped list.
- Sinopec Group: Chinese state-owned oil and gas company
- Royal Dutch Shell: Dutch company
- China National Petroleum
- State Grid
- Saudi Aramco: Saudi oil giant
- BP: British multinational oil and gas company
- Exxon Mobil
- Toyota Motor
About Fortune Global 500
It is an annual ranking of top 500 corporations worldwide as measured by revenue. It is also known as Global 500.
The list is compiled and published annually by Fortune magazine, an American multinational business magazine.
Factors that push and pull Global 500 rankings- global economy, trade policies, mergers and acquisitions and corporate upheaval.
Analysis: World’s 500 largest companies generated $32.7 trillion in revenues and $2.15 trillion in profits. The companies represented by 34 countries and employ 69.3 million people worldwide.
Month: Current Affairs - July, 2019
Category: Economy & Banking Current Affairs