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- The Fortune Global 500, also known as Global 500, is an annual ranking of the top 500 corporations
- The list is compiled and published annually by Fortune magazine.
Reliance
- Billionaire Mukesh Ambani’s Reliance Industries has jumped 10 places to break into the world’s top 100 companies on the Fortune Global 500 list.
- This is the highest any Indian company has been ranked on the Fortune Global 500 list.
- Reliance had broken into the top 100 in 2012 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.
- RIL has been on the Fortune 500 list for 17 years now.
Other Indian companies
- State-owned Indian Oil Corp (IOC) slipped 34 positions to rank 151st on the 2020 ranking.
- While Oil and Natural Gas Corp (ONGC) is ranked 190th, 30 notches lower than its last year’s ranking.
- The country’s top lender State Bank of India (SBI) has risen 15 ranks to 221st position.
- Other Indian firms on the list include-
- Bharat Petroleum Corp Ltd (BPCL) at rank 309th,
- Tata Motors at 337, and Rajesh Exports at 462.
Revenue?
- While Reliance had a revenue of USD 2 billion,
- IOC had revenue of USD 2 billion.
- ONGC had revenue of USD 57 billion and
- SBI had USD 51 billion.
- For the first time, there are more FortuneGlobal 500 companies based in Mainland China and Hong Kong than in the U.S.–124 vs. 121.
- Add in Taiwan’s companies, and the Greater China total jumps to 133.
Rise of China
- When the Global 500 list first came out in 1990, there were no Chinese companies on the list.
- In the intervening three decades, the Chinese economy has skyrocketed, powered by a global trade boom that expanded from 39% of global GDP to 59%.
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