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Indian Oil, Reliance lead Indian 8 in Fortune 500

By Arun Kumar, IANS,

Washington: Eight Indian companies have made it to Fortune magazine’s 2012 list of world’s 500 largest companies with public sector Indian Oil and Mukesh Ambani-led Reliance Industries among the top 100.

While Indian Oil with revenues of $ 86,016 million took the 83rd spot up from 98th place last year, Reliance Industries with revenue of $76,119 million moved up from 134th to 99th position to become the first Indian private firm to join the top 100.

Third placed Bharat Petroleum with revenue of $44,582 million is ranked 225th globally, Hindustan Petroleum with $38,885 million comes next in 267th place followed by State Bank of India with $36,950 million in the 285th spot.

Tata Motors with revenues of $34,575 million is ranked 314th followed by Oil & Natural Gas with $30,746 placed 357th and Tata Steel with $27,739 million brings up the rear for Indian companies in the 401st place.

Interestingly, the 2011 list also featured the same eight Indian companies. Last year, Bharat Petroleum was at the 272nd position, followed by SBI (292), Hindustan Petroleum (336), Tata Motors (359), ONGC (361) and Tata Steel (370).

Indian steel magnate Lakshmi Mittal’s Luxembourg based ArcelorMittal with revenues of $94,444 million is ranked 70th while American banking giant Citigroup led by Indian-American chief executive Vikram Pandit takes the 60th spot with revenue of $102,939 million.

Royal Dutch Shell with revenues of $484,489 takes the top spot in Fortune 500 global list ending retail major Wal-Mart Stores’ two-year winning streak.

Energy firm Exxon Mobil takes the second place followed by Wal-Mart Stores, energy company BP, and oil producer and refiner Sinopec Group.

American companies have cornered 132 places in the list, followed by China with 73 positions and Japan coming next with 68 spots.

(Arun Kumar can be contacted at [email protected])