Fortune Magazine Current Affairs - 2019

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RIL becomes highest-ranked Indian company on Fortune Global 500 list

Mukesh Ambani-led Reliance Industries Ltd. (RIL) becomes highest-ranked Indian company on Fortune Global 500 list. It has jumped 42 places and was ranked 106 this year.

Key Highlights

In this year’s list, RIL replaced Indian Oil Corporation (IOC) which ranked 117 as top-ranked Indian company. State-owned IOC had been top-ranked Indian company on list for years and was 1st on Fortune India 500 list which started in 2010. In 2018’s Global 500 list, RIL was ranked 148th and IOC was at 137th place.

RIL’s revenue rose by 32.1% from $62.3 billion in 2018 to$82.3 billion in 2019 while IOC clocked a 17.7% growth in revenue from $65.9 billion to $77.6 billion.

Other Indian companies to feature on list: Oil & Natural Gas Corp (ONGC) was ranked 160th, State Bank of India (SBI) 236th, Tata Motors 265th , Bharat Petroleum Petroleum Corp Ltd (BPCL) 275th and Rajesh Exports 495th.

Top 10 Position:

  1. Walmart: United States (US) retail giant topped list.
  2. Sinopec Group: Chinese state-owned oil and gas company
  3. Royal Dutch Shell: Dutch company
  4. China National Petroleum
  5. State Grid
  6. Saudi Aramco: Saudi oil giant
  7. BP: British multinational oil and gas company
  8. Exxon Mobil
  9. Volkswagen
  10. Toyota Motor

About Fortune Global 500

It is an annual ranking of top 500 corporations worldwide as measured by revenue. It is also known as Global 500.

The list is compiled and published annually by Fortune magazine, an American multinational business magazine.

Factors that push and pull Global 500 rankings- global economy, trade policies, mergers and acquisitions and corporate upheaval.

Analysis: World’s 500 largest companies generated $32.7 trillion in revenues and $2.15 trillion in profits. The companies represented by 34 countries and employ 69.3 million people worldwide.

5 Indian-origin persons in Fortune’s 2017 ’40 Under 40′ list

Five Indian-origin persons have featured in Fortune’s 2017 ’40 Under 40′ list of young and influential people in the field of business inspiring others with their work. They are Leo Varadkar (age: 38), Divya Nag (26), Rishi Shah (31), Shradha Agarwal (32) and Leila Janah (31).

Fortune’s annual list of 40 young and influential people is an annual ranking of the most influential young people who are under 40 of age. It has termed them as “disruptors, innovators, rebels and artists” inspiring others.

Key Facts

The Fortune’s 2017 ’40 Under 40′ list has been topped by French President Emmanuel Macron (39) who is France’s youngest leader since Napoleon and had won presidential elections in May 2017.

The list also includes Facebook founder Mark Zuckerberg on the second spot, followed by Brian Chesky (3rd), Nathan Blecharczyk (3rd), Joe Gebbia (4th), Serena Williams (7th) etc.

Leo Varadkar: He was ranked fifth on the list. His father was born in India. He is doctor by profession and is Ireland’s youngest leader in centuries as well first-ever gay to hold the office.

Divya Nag: She was ranked 27th.  She oversees Apple’s ambitious ResearchKit and CareKit programmes that encourage developers to build health- related apps She is Stanford dropout founded a stem-cell research startup and began a medical investment accelerator at the age of 23.

Rishi Shah and Shradha Agarwal: They were ranked 38th on the list. They are founders of health-tech firm Outcome Health. Their company raised over US $500 million at a valuation of more than $5 billion.

Leila Janah: She was ranked 40th on the list. She is CEO and founder of non-profit Samasource. She daughter of Indian immigrants who had moved to the US.