Reliance surges 16 positions and now ranks at number 88 on the Fortune Global 500 list

Reliance Industries, led by billionaire Mukesh Ambani, has achieved its highest ranking among Indian corporations on the latest Fortune Global 500 list. Soaring 16 places, the company now stands at an impressive number 88 on the list.

Over the past years, Reliance has displayed remarkable growth in rankings. It was positioned at number 155 in 2021, then advanced to number 104 in 2022, and now firmly holds its spot at number 88 in 2023.

This significant progress places Reliance among the most esteemed companies globally, and it has now been a part of the Fortune Global 500 list for an astounding 20 years, making it the longest-running private sector company in India to achieve this feat.

Reliance Industries' remarkable financial performance is a key driver for its rise in the rankings. Closing FY23 with record-breaking consolidated revenues of Rs 9,76,524 crore, witnessing a remarkable 23.2% growth, and EBITDA of Rs 1,54,691 crore, with a similar 23.1% increase, the company's O2C, retail, and digital services businesses all reported all-time high revenues.

The Fortune Global 500 list ranks companies based on their total revenues for the respective fiscal years, ending on or before March 31, 2023. Alongside Reliance, seven other Indian companies have secured positions on this year's list, showcasing India's growing presence and impact on the global corporate landscape.

Content source: Media reports