Mukesh Ambani's Reliance Makes History: Becomes First Indian Company To Enter Fortune 500 For 21 Years Straight

Reliance Industries Limited, owned by Mukesh Ambani, has remained a constant on the Fortune Global 500 list, moving up two spots to 86th place. Reliance Industries has advanced significantly over the last three years, moving up 69 spots from its 155th position in 2021.

Reliance Industries is notable for being the top Indian company on the Fortune Global 500 list. This information was released a few days after Anant Ambani, the son of the richest man in Asia, wed Radhika Merchant in an opulent ceremony.

No other Indian company has accomplished the feat that Reliance Industries has, having been a constant fixture on this Fortune Global list for the past 21 years.

Reliance financial growth

Reliance's revenue is USD 108,877 million, and the company's profits are USD 8,412 million, up 1.3 per cent, according to Fortune. Reliance's success is largely attributed to its 350,000 employees.

Gainers in 'Fortune 500'

Nine Indian companies are included in this year's ranking, five of which are in the public sector. Life Insurance Corporation of India (LIC), the top insurance provider, rose 12 places to rank 95th in the 2024 list.

The massive public sector company Indian Oil Corporation (IOC) fell 22 spots to 116th place in the meantime. The State Bank of India (SBI) jumped up to 178th place, a significant move.

Laggards of 'Fortune 500'

Bharat Petroleum Corporation Ltd. (BPCL) and Oil and Natural Gas Corporation (ONGC), two other Indian corporations, fell 22 and 25 spots, respectively, to finish 258th and 180th. Tata Motors moved up 66 spots to rank 271st on the list, followed by Rajesh Exports at 463rd and HDFC Bank at 306th.

Top 3 In 'Fortune 500'

The Fortune Global 500 list has State Grid, Walmart, and Amazon in the top three places. Among the other well-known businesses in the top 100 are Meta Platforms, Apple, Toyota Motors, Alphabet, and Samsung.