7 Indian companies have made it to the latest Fortune 500 list of the world’s biggest corporations in terms of revenue, with state-owned IOC continuing to be the highest ranked Indian firm and Reliance Industries (RIL) jumping 53 places. In the list topped by retail giant Walmart, Indian Oil Corp (IOC) with 23 per cent rise in revenues at USD 65.9 billion was ranked 137th, up from the 168th position in 2017, Fortune said. Richest Indian Mukesh Ambani-led RIL was the top private sector company from the country as it jumped from 203rd rank last year to 148th. It had a revenue of USD 62.3 billion in 2017-18.
With USD 47.5 billion revenue, Oil and Natural Gas Corp (ONGC) made a come back into the list with a ranking of 197th. It did not feature in the 2017 ranking. State Bank of India (SBI) with USD 47.5 billion revenue was given 216th rank, a shade higher than 217th last year. Tata Motors improved its ranking from 247th last year to 232nd. So did state-owned Bharat Petroleum Corp Ltd (BPCL) that moved up to 314th position from 360th last year. Rajesh Exports was the seventh Indian firm on the list though its ranking slipped to 405th this year from 295th last year.