Major Indian cos ascend in 2023 Fortune Global 500 rankings
New Delhi: In a remarkable display of growth and resilience, several Indian companies have made their mark in the esteemed 2023 edition of the Fortune Global 500 rankings.
The highly anticipated list, renowned for showcasing the world’s most influential enterprises, boasts a notable presence of Indian businesses, further emphasising their global significance.
A standout achiever in this year’s rankings is the esteemed Oil and Natural Gas Corporation (ONGC), a Maharatna energy giant.
ONGC has leaped an astounding 32 places, securing an impressive 158th position in the global standings. This advancement marks a remarkable progression from its previous placement at 190th in 2022.
Notably, ONGC’s revenue has experienced a staggering growth of 41.6 per cent, soaring from $65,962 million to $78,746 million during the review period. The corporation’s achievement is further underscored by its commendable efforts in reversing the declining trend in domestic crude oil production.
Mukesh Ambani’s Reliance Industries continues to shine on the international stage, elevating its standing by an impressive sixteen positions. Reliance Industries now proudly holds the 88th rank in the Fortune Global 500 list, reaffirming its stature as a global powerhouse.
Equally noteworthy is the ascent of the Indian Oil Corporation (IOC), a state-owned entity, which has surged a remarkable 48 places to attain the coveted 94th rank. This achievement reflects the corporation’s unwavering commitment and strategic growth initiatives.
Among other notable entrants in this year’s rankings, the Life Insurance Corporation (LIC) of India has slipped nine places to secure the 107th position. Despite the decline, it is worth mentioning that LIC made its debut in the Fortune Global 500 list only in 2022, signifying its swift rise to prominence.
Tata Motors, a pioneering force in the automotive sector, has surged forward by 33 places, now standing proudly at number 337.
Similarly, Rajesh Exports has soared an impressive 84 spots to hold the 353rd position, showcasing its significant progress.
With these remarkable achievements, Indian corporations have once again demonstrated their capacity for growth, innovation, and adaptability on the global stage.
As they continue to evolve and expand their influence, these businesses serve as beacons of success and inspiration for the entire corporate landscape.
The Indian presence within the Fortune Global 500 rankings stands as a testament to the nation’s dynamic economic growth and unwavering determination in the face of challenges.
