Billionaire Mukesh Ambani-led Reliance Industries has broken into the top 100 global companies and now ranks 96 in the 2020 ranking which has been released by Fortune. Reliance Industries (RIL) has jumped 10 places to break into the world’s top 100 companies on the Fortune Global 500 list. This is the highest-ranking any Indian company has achieved in the Fortune Global 500 list.
In 2012 also, Reliance Industries had broken into the top 100 rankings when it was ranked 99th but slipped in subsequent years to rank 215th in 2016. Since then it has risen steadily, as per the Fortune ranking. Indian Oil Corporation (IOC), Oil and Natural Gas Corporation (ONGC), State Bank of India (SBI), Bharat Petroleum Corp Ltd. (BPCL), Tata Motors, and Rajesh Exports are the other Indian companies featuring on the list.
Fortune companies are ranked by total revenues through their respective fiscal years ended on or before March 31, 2020. Fortune also provided the revenues of the companies wherein Reliance had revenue of $86.2 billion, IOC had revenue of $69.2 billion. ONGC had revenue of $57 billion and SBI had $51 billion. According to Fortune, the 2020 list is topped by Walmart with a revenue of $524 billion, followed by three Chinese companies – Sinopec Group ($407 billion), State Grid ($384 billion), and China National Petroleum ($379 billion). Royal Dutch Shell is ranked 5th followed by Saudi oil giant Aramco in 6th position.
The past few months have been exemplary for the Reliance industries as it has grown leaps and bounds. Here are the four major reasons that have been crucial in Reliance’s prowess.
- Growth of Reliance Jio