7 India cos in Fortune 500; Rajesh Exports replaces ONGC

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SME Times News Bureau | 22 Jul, 2016
Seven Indian companies figure in the latest Fortune 500 list, released on Thursday, of the world's biggest companies in terms of revenue.

Among Indian companies, state-run Indian Oil Corp (IOC) is ranked highest at 161st with revenues of USD 54.7 billion, although the other public sector firm Oil and Natural Gas Corp has moved out of the rankings for 2016.

ONGC has been been replaced by gems and jewellery firm Rajesh Exports, which makes its Fortune 500 debut this year at 423rd position.

Of the state-run firms, IOC is followed by State Bank of India (SBI), Bharat Petroleum and Hindustan Petroleum.

Mukesh Ambani-led Reliance Industries Ltd (RIL) is the highest ranked, though it has slipped down to 215th position, from 158 last year.

Tata Motors follows at number 226, up from 254th last year, with new entrant Rajesh Exports bringing up the rear.

Bharat Petroleum fell from 280th to 358th this year, while Hindustan Petroleum is at 367th, compared to its 327th place last year.

SBI has improved its position to 232, from being at 260 last year.

The overall list was topped by retail giant Walmart with revenue of USD 482,130 million.

The world's 500 largest companies generated USD 27.6 trillion in revenues and USD 1.5 trillion in profits in 2015, Fortune said.

Others in the global top 10 companies are State Grid (second, USD 329,601 million), China National Petroleum (third, USD 299,271 million), Sinopec Group (4th, USD 294,344 million), Royal Dutch Shell (5th, USD 272,156 million), Exxon Mobil (6th, USD 246,204 million), Volkswagen (7th, USD 236,600 million), Toyota Motor (8th, USD 236,592 million), Apple (9th, USD 233,715 million) and BP (10th, USD 225,982 million).