Reliance, 2 Tata Companies in Fortune’s Global 500 List

MUMBAI, (IANS) – Reliance Industries maintained its highest ranking among Indian private sector companies in the latest Global 500 list published by Fortune for 2022.

The list, topped by US retailer Walmart, has nine Indian companies – five of them state-owned, and four from the private sector.

Reliance Industries improved its rank by 51 places to 104 from its previous year’s rank of 155. With revenue of $93.98 billion and a net profit of $8.15 billion in the latest year, has been on the list for 19 years.

Only the debutant Life Insurance Corporation of India — a public sector company, which came out with an IPO earlier this year — was ranked higher than Reliance at 98 among Indian corporates.

The list had two Tata group firms – Tata Motors at 370 and Tata Steel at 435th spot. Rajesh Exports at 437th rank was the other private Indian company on the list. State Bank of India climbed 17 places to rank 236th and Bharat Petroleum Corporation Ltd 19 places to 295.

Indian Oil Corporation rose 28 places to 142nd rank while Oil and Natural Gas Corporation climbed 16 places to 190.

The Fortune Global 500 list ranks companies by total revenues for their respective fiscal years ended on or before March 31.