Reliance breaks into high 100 world corporations

New Delhi, August 11

Billionaire Mukesh Ambani’s Reliance Industries has jumped 10 locations to interrupt into the world’s high 100 corporations on the Fortune Global 500 record.

The oil-to-telecom conglomerate is ranked 96th within the 2020 rating launched by Fortune on Tuesday.

This is the best any Indian firm has been ranked on the Fortune Global 500 record.

Reliance had damaged into the highest 100 in 2012 rating when it was ranked 99th however slipped in subsequent years to rank 215th in 2016. Since then it has risen steadily, in keeping with the rating.

State-owned Indian Oil Corp (IOC) slipped 34 positions to rank 151st on the 2020 rating whereas Oil and Natural Gas Corp (ONGC) is ranked 190th, 30 notches decrease than its final yr’s rating.

The nation’s high lender, State Bank of India (SBI), has risen 15 ranks to the 221st place.

Other Indian companies on the record embody Bharat Petroleum Corp Limited (BPCL) at rank 309th, Tata Motors at 337, and Rajesh Exports at 462.

Fortune stated corporations had been ranked by complete revenues for his or her respective fiscal years ended on or earlier than March 31, 2020.

While Reliance had income of $86.2 billion, IOC had income of $69.2 billion. The ONGC had income of $57 billion and the SBI had $51 billion.

According to Fortune, the 2020 record is topped by Walmart with a income of $524 billion, adopted by three Chinese corporations — Sinopec Group ($SD 407 billion), State Grid ($384 billion) and China National Petroleum ($379 billion).

Royal Dutch Shell is ranked fifth adopted by Saudi oil big Aramco on the sixth place.

There isn’t any change within the positions of Walmart, Sinopec, and China National Petroleum whereas State Grid has jumped two positions and Shell slipped two notches. PTI

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