NEW DELHI: Mukesh Ambani-led Reliance Industries has become India's highest-ranking company in the Fortune Global 500 list with a jump of 42 places. So far, the Indian Oil Corporation (IOC) had secured a place in the Fortune 500 India list and was ranked first. "This year, Reliance Industries ranks 106th in the Global 500 list. It has overtaken the IOC which is at the 117th position. '
Reliance Industries' earnings rose 32.1 percent to $82.3 billion in 2019, up from $62.3 billion in 2018. On the other hand, IOC profits rose 17.7 percent to $77.6 billion from 65.9 billion dollars. Fortune said Reliance Industries' earnings have registered a growth of 7.2 percent annually during the last ten years. In 2010, it was $41.1 billion. Ioc's earnings have increased by 3.64 percent year-on-year during the period. In 2010, it was $54.3 billion.
Among Indian companies other than Reliance Industries and IOC, Oil and Natural Gas Corporation (ONGC), State Bank of India (SBI), Tata Motors, Bharat Petroleum Corporation Ltd. on Fortune's list. (BPCL) and Rajesh Exports. ONGC is at 160th position with a jump of 37 notches in the list. SBI has gone down 20 places and got the 236th position. Tata Motors has suffered a loss of 33 locations and is at 265th position. BPCL has jumped 39 notches to 275th position. Rajesh Exports has slipped 90 places to 495th position. US giant Walmart continues to top the Fortune 500 list.