Seven Indian companies have found their way to the Fortune 500 list for 2008, that also ranked Tata Steel as the fastest growing company across the globe in the year.
The $378-billion retail giant, Wal-Mart yet again topped the ranking.
The Indian list was dominated by petroleum refining companies. The over $57-billion, Indian Oil Corporation was ranked 116 in the global fortune, up 19 ranks from last year.
Other Indian companies were, Reliance Industries Ltd (RIL) ranked 206, Bharat Petroleum at 287, Hindustan Petroleum at 290, Tata Steel making its debut at 315, Oil & Natural Gas Corporation at 335 and the SBI at 380.
A major loser of the year was America Inc. The 2008 list has registered the fewest US businesses, at 153, in more than a decade. This confirms the rising prominence of emerging markets. Less than a decade ago India, Mexico and Russia had only one company each on the Global 500. This year?s list has seven from the subcontinent and five firms each from Mexico and Russia. China has recorded an unprecedented 29 companies in the list.
Overall, revenues for the Global 500 companies were at $23.6 trillion, up by13%, and profits at $1.6 trillion, up by 3.9%.
The top 10 were a relatively stable lot, Wal-Mart Inc at the top registering an 8% growth in revenues, followed again by Exxon Mobil and Royal Dutch Shell.
While Tata Steel was ranked as the fastest growing company with a 353% increase in its revenue, RIL was ranked at 30 with a revenue increase of 42.8%.