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Mukesh Ambani’s Reliance Industries breaks into top 100 global companies

Billionaire Mukesh Ambani’s Reliance Industries has jumped 10 places to break into the world’s top 100 companies on the Fortune Global 500 list. The oil-to-telecom conglomerate is ranked 96th in the 2020 ranking released by Fortune on Tuesday.

This is the highest any Indian company has been ranked on the Fortune Global 500 list.

Reliance had broken into the top 100 in 2012 ranking when it was ranked 99th but slipped in subsequent years to rank 215th in 2016. Since then it has risen steadily, according to the ranking.

State-owned Indian Oil Corp (IOC) slipped 34 positions to rank 151st on the 2020 ranking while Oil and Natural Gas Corp (ONGC) is ranked 190th, 30 notches lower than its last year’s ranking.

The country’s top lender State Bank of India (SBI) has risen 15 ranks to 221st position.

Source
ET Energy World
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