2016 Fortune Global 500 list released: India’s India Oil Corporation ranked at 161st Place
The 2016 Fortune Global 500 list of the world’s biggest firms was released on 21 July 2016. Seven Indian companies were featured in the list with Indian Oil Corporation (IOC) ranked highest at 161st rank with revenues of 54.7 billion US dollars.
The overall list was topped by retail giant Walmart with revenue of 482.130 million US dollars.
Highlights of the 2016 Fortune Global 500 list
• The world’s 500 largest companies generated 27.6 trillion US dollars in revenues and 1.5 trillion US dollars in profits in 2015.
• This year’s Fortune 500 companies employ 67 million people worldwide and are represented by 33 countries.
• The overall list was topped by Walmart with revenue of 482.130 million US dollars, followed by State Grid at Second place and China National Petroleum at the third place.
• Chinese companies took over whole of the top 10 in the list. While Walmart leads the list, the next three slots are taken by Chinese companies. These are State Grid, China National Petroleum and Sinopec.
• More than 100 Chinese companies made to the list this year, with the US the only country with more names on the list.
India in 2016 Fortune Global 500 list
• Seven Indian companies figure in the Fortune 500 list with state-run Indian Oil Corp (IOC) ranked highest at 161st with revenues of 54.7 billion US dollars.
• Second and third biggest Indian firms in revenue were Reliance Industries (RIL) and Tata Motors Ltd, with 215th and 226th ranks respectively.
• State Bank of India (SBI), India’s largest bank in terms of customer base, came fourth after Tata Motors to occupy the 232nd rank.
• Bharat Petroleum Corp Ltd (BPCL) with 358th rank and Hindustan Petroleum Corp with 367th rank were placed as the fifth and sixth, respectively.
• The surprise entry from India at the seventh position is Bengaluru-based Rajesh Exports at 423rd rank with revenue of 25.2 billion US dollars, that has replaced ONGC in the coveted list.
• State-owned Oil and Natural Gas Corp (ONGC) that was ranked 449 in the 2015 rankings is out of the list for the first time.