Shillong, August 2: Reliance Industries, the Indian conglomerate, has secured the highest position among Indian corporations in the latest Fortune Global 500 list for the year 2023. Improving its rank by an impressive 16 places, the company now holds the 88th position, a significant jump from last year’s 104th rank.
Over the past two years, Reliance Industries has made remarkable progress, gaining a whopping 67 places from its 2021 ranking of 155. This achievement translates to an overall gain of 83 places in the Fortune Global 500 rankings in just two years.
As per IANS, the current ranking of 88 is the best ever achieved by Reliance Industries on the esteemed Fortune Global 500 list. This year’s list featured a total of eight Indian companies, with five from the public sector (IOCL, LIC, ONGC, BPCL, and SBI) and three from the private sector.
Impressively, Reliance Industries has maintained its presence on the Fortune Global 500 list for the last 20 years, a tenure longer than any other private sector company in India.
The Fortune Global 500 list ranks companies based on their total revenues for the respective fiscal years ending on or before March 31, 2023. In FY23, Reliance Industries closed with record-high consolidated revenues of Rs 976,524 crore, marking a notable 23.2% increase, and EBITDA of Rs 154,691 crore, showing a robust 23.1% year-on-year growth. Each of the O2C, Retail, and Digital Services businesses within the conglomerate achieved all-time high revenues, contributing to its remarkable performance.