IOC top Indian company in Fortune Global 500 list
Seven Indian companies have made it to the latest Fortune 500 list of the world’s biggest corporations in terms of revenue with the retail giant Walmart topping the global rankings. Indian Oil Corp is ranked highest at 161st among Indian firms, while another state-run firm ONGC has moved out of the rankings for 2016. Private gems and jewellery major Rajesh Exports has made its debut at 423rd position. Among the seven Indian companies, four are from the public sector while Reliance Industries is the top-ranked among private sector firms, followed by Tata Motors and Rajesh Exports. Among state-run majors, Indian Oil is followed by banking behemoth SBI, Bharat Petroleum and Hindustan Petroleum. Indian Oil is ranked 161st with revenue of $54.7 billion (down from 119th last year), while RIL is now at 215th (down from 158th). Bharat Petroleum slipped from 280th to 358th this year and Hindustan Petroleum is at 367th, down from 327th. However, Tata Motors and SBI have improved their position. While Tata Motors has taken the 226th position, up from 254th last year, SBI is ranked 232nd, up from 260th last year.