New Delhi: World’s fourth richest man Mukesh Ambani’s oil-to-telecom conglomerate Reliance Industries Ltd (RIL) has been ranked 96th in the 2020 Fortune Global 500 list released Tuesday. India’s topmost company by market capitalisation jumped 10 placed to make it to the world’s top 100 companies, as compiled and ranked by Fortune magazine.

Reliance is the only Indian company to be ranked among top 100 global companies on the list which is published every year by the Fortune magazine which calls it the “ultimate business scorecard”. RIL has been on the Fortune 500 list for 17 years now. On the other hand, 24 state-owned and private companies from China made it to the revered list. 

Other than RIL are only six Indian state-owned and private companies made it to the top 500 global companies, according to Fortune. These are: Indian Oil, Oil & Natural Gas Corporation, State Bank of India, Bharat Petroleum, Tata Motors, and Rajesh Exports   

In the top five global companies as ranked by Forbes, three are Chinese, one from the US while one is Anglo-Dutch. Retail major Walmart from the US tops the 2020 list followed by three Chinese companies: China state-owned petroleum and chemical giant Sinopec Group, China’s state-owned power company State Grid, and China National Petroleum Corp (CNPC). The Anglo-Dutch oil and gas multinational Royal Dutch Shell was fifth on the Fortune magazine’s 2020 list.  

Sinopec Group, State Grid, China National Petroleum, China State Construction Engineering, Ping An Insurance, Industrial & Commerce Bank of China, China Construction Bank, Agriculture Bank of China, Bank of China, China Life Insurance, Huawei Investment & Holding, China Railway Engineering Group, SAIC Motor, China Railway Construction, China National Offshore Oil, China Mobile Communications, Pacific Construction Group, China Communications Construction, China Resources, China FAW Group, China Post Group, Amer International Group, China Minmetals, Dongfeng Motors are 24 Chinese companies which made to top 100 ranks on the list.  

The world’s 500 largest companies generated $33.3 trillion in revenues and $2.1 trillion in profits in 2019. Together, 2020 Fortune Global 500 companies employ 69.9 million people worldwide and are represented by 32 countries, as per Fortune. 

Fortune said it ranks companies based on total revenues for their respective fiscal years ended on or before March 31, 2020.  All companies on the list must publish financial data and report part or all of their figures to a government agency. Figures are as reported, and comparisons are with the prior year’s figures as originally reported for that year. 

The top five companies on Fortune 500 US list are Walmart, global online retailer Amzon.com, oil major Exxon Mobil, tech major Apple, healthcare company CVS Health. The 500 companies which made the 2020 year list represent two-thirds of the U.S. economy, with $14.2 trillion in revenue, as per Fortune.