Reliance Industries Ltd, led by billionaire Mukesh Ambani, has made an impressive climb of eight positions to secure the 45th rank on Forbes’ renowned Global 2000 list. This achievement marks the highest ranking for an Indian company on the prestigious list, highlighting Reliance’s exceptional performance in the global business landscape.
Forbes’ Global 2000 list evaluates and ranks the world’s largest companies based on four key metrics: sales, profits, assets, and market value. In their latest rankings for 2023, Forbes announced that JPMorgan, America’s largest bank with assets totaling USD 3.7 trillion, claimed the top spot for the first time since 2011. JPMorgan showcased its resilience by emerging stronger from the regional banking crisis earlier this year, bolstered by increased deposits and the strategic acquisition of the failed First Republic Bank.
However, Warren Buffett’s Berkshire Hathaway, which held the top position last year, experienced a decline in the latest rankings, dropping to the 338th position due to unrealized losses in its investment portfolio.
The second position on the list is held by Saudi Arabia’s oil giant Aramco, followed by three state-owned Chinese banks. Technology giants Alphabet and Apple secured the 7th and 10th positions, respectively.
Reliance Industries, a conglomerate involved in industries ranging from oil to telecom, achieved remarkable sales of USD 109.43 billion and a profit of USD 8.3 billion. This impressive performance enabled Reliance to claim the highest ranking among Indian companies, surging from the 53rd position it held in last year’s rankings.
Notably, Reliance surpassed well-known international names such as Germany’s BMW Group, Switzerland’s Nestle, China’s Alibaba Group, US-based Procter & Gamble, and Japan’s Sony.
Several other Indian companies also made their mark on the Global 2000 list. State Bank of India climbed to the 77th position from 105th in the 2022 ranking, while HDFC Bank secured the 128th position (up from 153 in 2022) and ICICI Bank stood at 163rd (up from 204 in 2022).
Among the notable Indian firms featured on the list are Oil and Natural Gas Corporation (226), HDFC (232), and the Life Insurance Corporation (LIC), which made its debut at the 363rd position. However, Tata Consultancy Services (TCS) slipped to the 387th rank from 384 in the previous year.
Furthermore, Axis Bank (423), NTPC (433), Larsen & Toubro (449), Bharti Airtel (478), Kotak Mahindra Bank (502), Indian Oil Corporation (540), Infosys (554), Bank of Baroda (586), Coal India (591), Tata Steel (592), Hindalco (660), and Vedanta (687) are among the notable Indian firms represented on the list.
In total, 55 Indian companies secured a place on the Global 2000 list, reflecting the country’s growing presence in the global business arena.
The article also mentions the three firms from Gautam Adani’s conglomerate that made the list. These include Adani Enterprises at 1062, Adani Power at 1488, and Adani Ports & Special Economic Zones at 1598. Adani faced criticism from a US short seller earlier this year, resulting in him losing his title as the world’s third richest individual.
