Reliance again break into top 100 global companies after 8 years

Billionaire Mukesh Ambani's oil-to-telecom conglomerate Reliance Industries has been ranked 96th in 2020 Fortune Global 500 list released today. The Indian firm jumped 10 places to break into the world's top 100 companies on the list.

This is the highest any Indian company has been ranked on the Fortune Global 500 listever.

Walmart topped the Fortune 2020 list with a revenue of $524 billion, followed by three Chinese firma - Sinopec Group ($407 billion), State Grid ($384 billion), and China National Petroleum ($379 billion). There is no change in positions of Walmart, Sinopec, and China National Petroleum.

The other Indian companies on the list include Indian Oil, ONGC, SBI, BPCL, Tata Motors and Rajesh Exports.

Indian Oil Corporation (IOC) slipped 34 positions to rank 151st on the 2020 ranking while Oil and Natural Gas Corporation (ONGC) is ranked 190th, 30 notches lower than its last year's ranking.

With 221 ranking, India's top lender State Bank of India (SBI) has improved its ranking by 15 points. The lender was at 206 position in 2019.

Earlier in 2012, Reliance Industries had broken into the top 100 ranking when it was ranked 99th but slipped in subsequent years to rank 215th in 2016. Since then it has risen steadily, according to the ranking.

Bharat Petroleum Corp Ltd (BPCL) is ranked 309, Tata Motors 337 and Rajesh Exports at 462.

Fortune said companies are ranked by total revenues for their respective fiscal years ended on or before March 31, 2020.

While Reliance had a revenue of $86.2 billion, IOC had revenue of $69.2 billion. ONGC had revenue of $57 billion and SBI had $51 billion.