In 70th year of India’s independence, 7 Indian companies make it to Fortune 500 list

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Published: August 15, 2017 12:41:27 AM

Even as we celebrate the 70th Independence anniversary of the world’s largest democracy, seven Indian companies have achieved the feat of entering into the Fortune Global 500 list.

independence, independence day, independence day 2017, 15 August, India, independence day images, independence day speech, independence day India, celebrate Independence Day, how do we celebrate Independence Day, 15 August independence day, August 15In the 70th year of independence, seven Indian companies rank among the Fortune Global 500. (Image: PTI)

Even as we celebrate the 70th Independence anniversary of the world’s largest democracy, seven Indian companies have achieved the feat of entering into the Fortune Global 500 list. The Fortune Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by the total revenue. The list is compiled and published annually by the Fortune magazine.

State-run Indian Oil Corp is the only Indian company to rank among the top 200 in the list. The PSU oil refining & marketing and petrochemical giant is the largest commercial enterprise in the country with revenues of more than 4 lakh crore. The company is ranked 168 on the Global 500 list.

The next Indian company is Mukesh Ambani-led conglomerate Reliance Industries at the 203rd spot. This year has been memorable for Reliance Industries as the company toppled TCS to once again become the most valued company in April, after a gap of more than four years.

From the banking and financial services space, the government-owned public sector lender State Bank of India ranks 217 among the Global 500. Tata Motors may have had a bad 2017 at the bourses with the stock losing more than 20% in the year so far, but the multinational automotive manufacturing company ranks 247 on the list. Rajesh Exports, a leading gold manufacturing company from Bangalore, is ranked at 295 on the list. The company produces more than one-third of the world’s gold.

Another state-run oil and gas downstream company Bharat Petroleum Corp Ltd, headquartered in Mumbai, comes in at the 360th position. The last Indian company to make it to the list of Fortune Global 500 is yet another state-run petroleum refiner Hindustan Petroleum Corp, which ranks at 384. The company holds more than 25% market share among the public sector fuel retail companies in India.

The list had not been very different for the Indian companies last year, with exactly the same companies making it into the list in 2016 as well. However, The order of the companies read differently, with Indian Oil at 161, Reliance Industries at 215, Tata Motors at 226, State Bank of India at 232, Bharat Petroleum at 358, Hindustan Petroleum at 367 and Rajesh Exports at 423. Notably, Rajesh Exports had made it into the coveted list, while ONGC made its way out last year.

Another significant landmark was achieved by the Indian corporations this year 2017 as ten Indian companies made it into the top 30 list of Asia300 analysis report published by Nikkei. The Asia300 list consists of a total of 327 companies in India, China, Hong Kong, South Korea, Taiwan and six Southeast Asian nations. Nikkei ranked them on the basis of a blend of various factors including average growth in sales and profit over the past five years, profitability, capital efficiency and financial soundness. In fact, the top 5 players included three well-known Indian names — HCL Technologies, Zee Entertainment Enterprises and Tata Consultancy Services. India’s presence in tjos ranking becomes all the more impressive as none of the Indian players made it to the list of top 10 in the previous financial year. Other Indian companies in the top 30 of the Asia300  included Sun Pharmaceutical Industries at the 11th place, Infosys (15), ITC (16), Maruti Suzuki India (17), Lupin (18), Dabur India (24) and Asian Paints (28).

“These results testify to India’s solid personal consumption despite the government’s demonetization of two high-denomination bank notes last November,” Nikkei said. The combined net profit of Indian companies on the Asia300 list increased 9.8% in the year, a sharp contrast to the 9.8% fall for Chinese and Hong Kong companies combined, it added.

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