The Forbes Global 2000 List ranks global public companies, on the basis of four factors- sales, profits, assets and market value. And this year, the list released by them has good news for India.
Reliance emerged as the top company from India, climbing two spots to reach the 53rd spot on the list. It is followed by State Bank of India at 105th position, HDFC Bank at 153rd position and ICICI Bank at 204th position.
The other Indian firms that made it to the top ten Indian companies on the global Forbes’ list, include state-owned Oil and Natural Gas Corporation (ONGC) ranked at 228th position, Housing Development Finance Corporation Ltd (HDFC) at 268th rank, Indian Oil Corporation (IOC) at 357th rank, Tata Consultancy Services Ltd (TCS) at 384th rank, Tata
Steel at 407th rank and Axis Bank, ranked at 431st position.
Reliance Industries, that deals in a myriad number of businesses ranging from oil to education to telecom to fashion, became the first Indian company to surpass the USD 100 billion mark in annual revenue. It recorded sales of USD 104.6 billion in the financial year of 2021-2022, making it the 53rd largest company in the world.
Earlier this year, Forbes estimated Mukesh Ambani’s net worth to be $90.7 billion, making him the 10th richest billionaire in the world.
Reliance is followed by three banks-SBI, HDFC and ICICI bank, indicating the prominence of the re-emerging finance sector in the country. Noteworthy mention includes metal giant Vedanta, rising by a massive 703 spots, making the highest leap among all of the Indian companies featured on the list. All thanks to price surge amounting to rise in profits, it has now been ranked at 593rd position on the list.
New entrants include companies from the Adani umbrella- Adani Enterprise-ranked at No. 1,453 position, Adani Ports & Special Economic Zone at 1,568th rank, Adani Green Energy at 1,570th rank, Adani Transmission at 1,705th rank and Adani Total Gas, ranked at 1,746th position. Gautam Adani, recently made headlines, when he surpassed Warren Buffet, to become the fifth richest person in the world.
Energy and banking sector corporations were among the highest-ranking Indian companies in the Forbes’ Global 2000 List Of public companies this year.