The India story got stronger on the global arena with the country expanding its presence on the elite list of Fortune Global 500 companies. 6 Indian companies storm Fortune 500 list.
The State Bank of India has become the sixth domestic firm to feature in the league.
Besides SBI’s grand entry to the list, all five current incumbents continue to be in the Fortune 500 list. They are,
Reliance Industries Ltd,
Indian Oil Corporation,
Bharat Petroleum Corporation,
Hindustan Petroleum Corporation Ltd
Oil and Natural Gas Corp
Besides SBI’s grand entry to the list, all five current incumbents have scaled up the ranking on the list of world’s biggest 500 companies. The scaling up of current five and grand entry of SBI clearly indicate the excellent business growth and business environment in India and how these companies are really having a competitive edge and significant global presence in the world business.
The US-based energy giant Exxon Mobil tops the list of Fortune Global 500 companies.
Among the six Indian companies on the list, IOC holds the top rank at 153rd position, followed by RIL at 342nd rank, BPCL at 368th, HPCL at 378th, ONGC at 402nd and the new entry SBI has been placed at 498th rank.
RIL has scaled up 75 ranks on the list from the previous year, while IOC has gained 17 positions, BPCL has jumped 61 ranks, HPCL has moved up 58 positions and ONGC has scaled up 52 positions. RIL figures among the top 25 climbers on the list.
There are 42 new arrivals on the list with SBI being the single new entry from India.
The US leads the pack in terms of home to global giants with 170 Global 500 companies headquartered there. However, India and China are gaining ground.
In terms of cities, Tokyo leads the pack with as many as 52 Fortune 500 companies headquartered there, while four companies RIL, BPCL, HPCL and SBI have their headquarters in Mumbai. IOC, which leads the pack of Indian companies present on the list, and ONGC are based in New Delhi. IOC has been ranked at 26th position among the Asian companies present on the list.
Paris holds the second position with 27 companies, while New York is at third position with 24 companies, followed by London at fourth rank with 23 companies and Beijing at fifth position with 15 Fortune Global 500 firms. There are eight women CEOs ruling the Global 500 companies.
While Exxon Mobil leads the pack at first position, retail giant Wal-Mart Stores holds the second position. Royal Dutch Shell, BP, General Motors, Chevron, DaimlerChrysler, Toyota Motor, Ford Motor and Conoco Phillips are the other companies on the top 10 list.
With the above progress indicated above in Fortune 500 British Prime Minister Tony Blair wants India, along with four other developing countries, to be included in G8 for securing multilateral deals. He will press for the extension of G8 to G13 by including India, China, Brazil, South Africa and Mexico in the coming summit.
With India and Brazil playing a key role in the trade talks, the first fruits of closer engagement could be a breakthrough in the stalled global trade talks.
Climatic change would be enhanced by the inclusion of these five leading developing countries. There is no way we can deal with climate change unless an agreement binds the United States, China and India according to the British prime minister.
The above clearly indicates the clout of India in the business world including the group of developing nations. It will not be surprising more and more companies join the ranks of Fortune 500 and the existing one scaling up.