Reliance Industries jumps two places on Fortune's Global 500 list

Oil-to-telecom-to-retail conglomerate Reliance Industries Ltd continues to be the highest-ranked Indian firm on the Fortune Global 500 list, jumping two places to be ranked at No.86 in the 2024 ranking.

The firm was placed at No.88 in last year's ranking and has gained a whopping 69 places in the last three years - from being placed at No.155 in 2021 to being at No.86 in 2024.

Releasing the 2024 list, Fortune on its website said Reliance has been on the 500 list for 21 years now. It had revenues of USD 108.8 billion and a profit of USD 8.4 billion last year.

The 2024 ranking has nine Indian firms, five of them from the public sector.

Insurance behemoth Life Insurance Corporation of India (LIC) jumped 12 places to be ranked at No.95 on the 2024 list while state-owned Indian Oil Corporation (IOC) slid 22 places to 116.

State Bank of India (SBI) soared 57 spots to rank at No.178.

Oil and Natural Gas Corporation (ONGC) and Bharat Petroleum Corporation Ltd (BPCL) were ranked at No.180