Reliance Industries Limited (RIL) has topped the Fortune 500 list of Indian companies, while Indian Oil Corporation Ltd (IOC), the nation’s biggest oil firm, has bagged the second spot, followed by Oil and Natural Gas Corporation (ONGC) at the third, said the Fortune India.

The country’s largest lender, State Bank of India, was in the fourth position, while India’s second-biggest fuel retailer Bharat Petroleum Corporation Ltd (BPCL) took the fifth spot. The list was published by Fortune India, which is part of Kolkata-based RP Sanjiv Goenka Group.

Tata Motors was ranked sixth, followed by gold refiner Rajesh Exports at the seventh spot.

India’s largest IT services firm Tata Consultancy Services took the eighth spot, while ICICI Bank was at ninth, and Larsen and Toubro at tenth. In the global rankings released in August, RIL broke into the world's top 100 companies.

In 2019, Reliance became the first Indian company to cross ₹10 trillion market capitalization. Chairman and Managing Director Mukesh Ambani said: “In just four decades, Reliance has grown from a small start-up to one of the largest, most admired companies in the world.”

In 2020, Reliance ranks as the 48th highest valued company in the world and ranks 96th on the Fortune Global 500 list. Reliance Retail becomes the largest retailer by revenue in 2014, fulfilling the aspirations of millions across the country and bringing international experiences at affordable prices to every corner of India.

In 2009, Reliance commences production of hydrocarbons in its KGD6 block -- against all odds - in just over two years of its discovery, making it the world’s fastest green-field deep water oil development project. With this development, Reliance completes an unprecedented backward integration journey. /BI/