Forbes’ Global 2000 List: Reliance Rises by Eight Positions to Attain 45th Rank

Reliance Rises by Eight Positions to Attain 45th Rank in Forbes’ Global 2000

Forbes’ latest Global 2000 list has ranked Billionaire Mukesh Ambani’s Reliance Industries Limited as the highest-ranking Indian company, climbing from the 53rd to the 45th spot this year.

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Reliance Rises by Eight Positions to Attain 45th Rank: Key Points

• Several other Indian companies featured on the list, including Axis Bank at 423, NTPC at 433, Larsen & Toubro at 449, Bharti Airtel at 478, Kotak Mahindra Bank at 502, Indian Oil Corporation at 540, Infosys at 554, Bank of Baroda at 586, Coal India at 591, Tata Steel at 592, Hindalco at 660, and Vedanta at 687.
• The list also featured three companies from the Adani Group – Adani Enterprises at 1062, Adani Power at 1488, and Adani Ports & Special Economic Zones at 1598.
• The group previously faced criticism from a U.S short-seller earlier this year.

What parameters are used for the ranking?

The ranking is based on four metrics including sales, profits, assets, and market value.

Who are on the Top?

• The top spot on the list is held by JPMorgan, followed by Saudi oil giant Aramco, and three giant-sized state-owned Chinese banks.
• Warren Buffet’s Berkshire Hathaway fell to the 338th position due to unrealized losses in its investment portfolio.
• Reliance surpassed several well-known companies including Germany’s BMW Group, Switzerland’s Nestle, Alibaba Group from China, Procter & Gamble from the US, and Sony from Japan, with sales of $109.43 billion and a profit of $8.3 billion.

State Bank of India and other companies position on the list:

• The State Bank of India has climbed up to the 77th position from its previous rank of 105th in the 2022 ranking.
• Other Indian companies on the list include HDFC Bank at 128th position (153 in 2022), ICICI Bank at 163 (204 in 2022), state-owned Oil and Natural Gas Corporation (ONGC) at 226, HDFC at 232, and Life Insurance Corporation (LIC) at 363.
• However, Tata Consultancy Services (TCS) saw a slip in rank from 384 last year to 387 this year. Notably, 55 Indian firms made it to the list.

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