The much awaited Fortune 500 list for 2016 is out. The list ranks companies worldwide according to their annual turnover, and this year features a few Indian corporations. 33 countries have been represented by their organizations which have been listed. In total, the global Fortune 500 organizations have 67 million employees. Walmart, the retail giant based in the US had the top rank with revenue of $482 billion.
Among the Indian organizations, IOC ranked 161st making it the highest ranked in the seven on the list. Three of the companies which feature on the prestigious list are private and the rest four are public sector companies.
Here’s the list of the Indian companies that made it to 2016’s list:
Indian Oil Corporation (161; down from 119)
IOC, with an annual revenue of $54.7 billion had the highest ranking on Forbes list, though it did
slip down from its position of 119 last year. The oil major has a huge presence in India and has contributed to the energy demands of India for over 50 years. It exports its products to 70 countries and has formed joint ventures with businesses in India and internationally.
Reliance Industries (215; down from 158)
Reliance Industries, one of India’s biggest privately owned ventures featured 215 on the list, falling 57 places from last year. The Reliance group has broad business interests ranging from refining and production of petrochemicals, marketing petrochemicals, organized retail, textiles and digital and broadband services.
Tata Motors (226; up from 254)
Tata Motors is another privately run Indian companies to find a place in the 2016 Forbes list. It has improved its rank by 28 places this year, with a turnover of USD $42.07 billion. This company has sold over 9 million vehicles in India and abroad to reach where it has today. The company’s core philosophy is strongly based on “giving back” and sustainability. Tata Motor’s defence vehicles, truck, buses, cars and utility vehicles are sold globally at many locations.
State Bank of India (232; up from 260)
The Indian Government owns the majority of shares in the SBI at 58.60 % ownership. It earned a rank of 232 on the Forbes list, also rising by 28 places with revenue of $41.1 billion USD. The Banker magazine ranked it 58 in its 2015’s 1000 Top Banks worldwide list. It has 22,000 branches in India and in more than 190 offices in 36 countries. The SBI’s services include security trading, life insurance, investment banking, general insurance, credit cards, mutual funds which makes it one of India’s foremost financial institutions.
Bharat Petroleum (358; down from 280)
Bharat Petroleum is a public sector organization and was ranked 358 on 2016 Forbes list, falling 78 places from last year.Its revenue was approximately $29 billion USD. It’sturnover decreased due to a fall in the price of crude oil, though domestic LPG fared better and the company did not suffer any loss due to cooking fuel.
Hindustan Petroleum (367; down from 327)
Image Source : TopNews.In
Hindustan Petroleum another state-owned company fell 40 places in 2016 Forbes list.It’s turnover was $28.8 billion USD. The company operates and owns two refineries, one in Vishakhapatnam and Mumbai, producing various petrochemical products. HP also operates and owns the biggest Lube Refinery producing world class Lube Oil. It has the 2nd biggest share of pipelines.
Rajesh Exports (423)
Rajesh Exports with a ranking of 423 was the new entrant from India on the list. Its private sector organization and it’s a major jewelry and gems business in India. It had a turnover of $25.20 billion USD, which ensured its inclusion in the list. It has acquired Valcambi, the world’s biggest refinery for precious metals, which would bring down the cost of sourcing gold for Rajesh Exports, enablingthe company to make a saving of Rs 50-100 crore per year.
Inclusion of these seven companies in the 2016 Forbes list is laudable. But India has a long way to go, to see the day when more than 100 Indian companies feature in the list, like the US and China.