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Business News/ Companies / News/  Fortune Global 500: Reliance jumps 16 places, LIC slips 9. Details on 8 Indian companies featured on list
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Fortune Global 500: Reliance jumps 16 places, LIC slips 9. Details on 8 Indian companies featured on list

Reliance Industries jumps to number 88 on Fortune Global 500 list, while IOC too climbed ranks and was placed at 94.

(Representative image)Premium
(Representative image)

Fortune Global 500 list has been released and eight Indian companies have been featured in the list. Notably, billionaire Mukesh Ambani's Reliance Industries has maintained its high rank, furthering another sixteen places. Reliance Industries is now ranked at number 88.

Reliance Industries had been ranked at number 104 in the 2022 ranking and in the 2023 ranking it is placed at number 88, according to the publication. The company has gained a whopping 67 places in the last two years from number 155 in 2021, according to a report by PTI.

The ranking of number 88 is the best-ever achieved by Reliance on the Fortune Global 500 ranking list.

Meanwhile, Life Insurance Corporation of India (LICI) which slipped nine places to rank at 107. Notably, LICI had been featured in the Fortune Global 500 list for the first time in 2022.

A total of eight companies had featured in this years Fortune Global 500 list.

In that state-owned Indian Oil Corporation (IOC) jumped 48 places to rank at number 94.

Further, Oil and Natural Gas Corporation was ranked at number 158, Bharat Petroleum Corporation Ltd at number 233, and State Bank of India was placed at number 235 on the list. These were also the other state-owned firms on the list.

Tata Motors rose 33 places to rank at number 337 and Rajesh Exports jumped 84 spots to number 353.

It is now the 20th year of Reliance being a part of the Fortune Global 500 list - much longer than any other private sector company in India.

Fortune Global 500 list ranks companies by total revenues for their respective fiscal years ended on or before 31 March 2023.

Reliance Industries closed FY23 with record-high consolidated revenues of 9,76,524 crore, up 23.2 per cent, and EBITDA of 1,54,691 crore, up 23.1 per cent, with each of the O2C, retail and digital services businesses posting all-time high revenues.

(With inputs from PTI)

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Updated: 03 Aug 2023, 07:21 PM IST
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