Reliance soars to the 86th position in Fortune Global 500 list
By MYBRANDBOOK
Reliance Industries (RIL) has risen two ranks from the previous year to take the 86th spot in Fortune's Global 500 list for 2024. This improvement from RIL's 88th place in 2023 and 155th place in 2021 demonstrates the company's sustained supremacy among Indian corporates. The company's impressive rise highlights its expanding worldwide impact.
Fortune has mentioned on its website that for the last 21 years Reliance has been on the 500 list. Last year, it had revenues of $ 108.8 billion and a profit of $ 8.4 billion.
In the 2024 ranking, there are a total of nine Indian firms of which five are from the public sector.
Insurance behemoth Life Insurance Corporation of India (LIC) jumped 12 places to be ranked at No.95 on the 2024 list while state-owned Indian Oil Corporation (IOC) slid 22 places to 116.
State Bank of India (SBI) ranked at No. 178, soared 57 spots.
Oil and Natural Gas Corporation (ONGC) and Bharat Petroleum Corporation Ltd (BPCL) were ranked at No.180 and No.258 after they slid 22 and 25 spots respectively. Tata Motors ranks 271, it climbed 66 spots. HDFC and Rajesh Exports rank 306 and 463 respectively.
US retailer Walmart remains at No.1 position for the 11th consecutive year. Amazon No.2 spot (up from No.4 last year), according to Fortune.
"The Fortune Global 500 is our annual ranking of the largest 500 corporations worldwide as measured by total revenue," Fortune said. "Companies are ranked by total revenues for their respective fiscal years ended on or before March 31, 2024.
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