Reliance Industries Ltd, headed by billionaire Mukesh Ambani, has achieved a significant milestone by ascending eight places to secure the 45th rank on Forbes' esteemed Global 2000 list.
This achievement cements Reliance Industries' position as the highest-ranking Indian company on the list, which evaluates public companies worldwide based on sales, profits, assets, and market value.
With an impressive sales figure of USD 109.43 billion and a profit of USD 8.3 billion, Reliance Industries continues to make strides in its journey of growth and success.
Forbes' Global 2000 list serves as a comprehensive ranking of the world's largest and most influential companies. This annual list employs four key metrics—sales, profits, assets, and market value—to assess the financial performance and market standing of public companies on a global scale.
The ranking provides valuable insights into the dynamic landscape of the corporate world, highlighting the companies that have achieved notable growth, profitability, and market value.
JPMorgan, the largest bank in the United States with assets totaling USD 3.7 trillion, has seized the top spot on Forbes' Global 2000 list for the first time since 2011.
Demonstrating resilience in the face of the regional banking crisis earlier this year, JPMorgan has strengthened its position with increased deposits and the opportunistic acquisition of the failed First Republic Bank. This accomplishment solidifies JPMorgan's dominance in the global financial sector.
In contrast, Warren Buffett's Berkshire Hathaway, which held the top position in the previous year, has fallen to the 338th position in the latest ranking. This decline is attributed to unrealized losses in its investment portfolio, underscoring the volatile nature of the financial markets and the challenges faced by even the most prominent players.
Saudi Aramco, the Saudi Arabian oil behemoth, maintains a strong presence on the Global 2000 list, securing the second position. The company's vast oil reserves and extensive operations contribute to its exceptional market value and global significance.
Following closely behind Aramco are three state-owned Chinese banks, further exemplifying the dominance of China's financial sector on the global stage.
Notably, technology giants Alphabet and Apple hold the 7th and 10th positions, respectively, highlighting their continued influence and market power within the tech industry.
Reliance Industries' remarkable ascent to the 45th position reflects the robust growth and strategic vision of Mukesh Ambani's conglomerate. Moreover, several other Indian companies have also made their mark on the prestigious Global 2000 list.
State Bank of India has climbed to the 77th spot, showcasing its strength and prominence in the Indian banking sector. HDFC Bank and ICICI Bank have demonstrated significant improvement, securing the 128th and 163rd positions, respectively, signaling their growing influence and financial stability.
Other notable Indian companies on the Global 2000 list include Oil and Natural Gas Corporation (226), HDFC (232), Life Insurance Corporation (363), Tata Consultancy Services (387), 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).
These companies' inclusion underscores their significance and contributions to the Indian economy and global business landscape.
Conclusion
Reliance Industries' impressive climb to the 45th position on Forbes' Global 2000 list demonstrates the company's continued growth trajectory and underscores India's prominence in the global corporate sphere. As Indian companies make their mark on the list, they contribute to the diversification and expansion of the global business landscape.