Reliance Industries Jumps Two Places in Fortune’s Global 500 List for 2024
Introduction
Reliance Industries Limited (RIL), one of India’s largest and most influential conglomerates, has made significant strides in the global business landscape. In the 2024 edition of Fortune’s Global 500 list, RIL has climbed two places, securing the 86th spot, up from 88th in 2023. This achievement underscores the company’s robust performance across its diverse business segments and its growing influence on the global stage.
Table of Contents
- Reliance Industries’ Performance in Fortune’s Global 500
- Growth in Key Business Segments
- Indian Presence in Fortune’s Global 500
- Overview of Fortune Global 500
- FAQs About Reliance’s Fortune Global 500 Ranking
- Conclusion
Reliance Industries’ Performance in Fortune’s Global 500
Current Ranking
RIL is now ranked 86th on the Fortune Global 500 list for 2024, maintaining its position as the highest-ranked Indian company on the list.
Three-Year Progression
Over the past three years, RIL has seen a remarkable rise, moving up 69 places from 155th in 2021. This consistent improvement highlights the company’s sustained growth and strategic expansion.
Financial Performance
- Revenue: For fiscal year 2024, RIL reported a revenue of ₹10,00,122 crore, marking a 2.6% year-on-year increase.
- EBITDA: The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reached ₹178,677 crore for FY24, a significant 16.1% increase compared to the previous year. This growth reflects RIL’s strong operational performance across its key business segments.
Growth in Key Business Segments
Reliance’s diverse portfolio has been a major driver of its upward trajectory in the Fortune Global 500 list. The company has seen notable growth in its Oil & Gas, Retail, and Digital Services segments:
Oil & Gas
- Continued expansion and efficiency improvements in the energy sector have bolstered RIL’s revenue and profitability.
Retail
- RIL’s retail arm has rapidly expanded, making it one of the largest retail chains in India, contributing significantly to the company’s overall revenue.
Digital Services
- With its flagship Jio platform, RIL has revolutionized the Indian telecommunications market, driving substantial growth in its subscriber base and digital revenues.
Indian Presence in Fortune’s Global 500
- Total Indian Companies: The 2024 Fortune Global 500 list features nine Indian companies, highlighting India’s growing influence in the global economy.
- Public Sector Representation: Indian public sector enterprises such as Indian Oil Corporation (IOCL), Life Insurance Corporation (LIC), Oil and Natural Gas Corporation (ONGC), Bharat Petroleum Corporation Limited (BPCL), and State Bank of India (SBI) continue to hold strong positions on the list.
- Private Sector Presence: RIL leads the private sector, with three other Indian private companies also making it to the list, underscoring the competitiveness of India’s private enterprises on the global stage.
Overview of Fortune Global 500
- Aggregate Revenue: The Fortune Global 500 companies collectively achieved a record-high aggregate revenue of $41 trillion in 2023, demonstrating their massive scale and economic impact.
- Economic Significance: These companies represent more than a third of the global GDP, underscoring their critical role in the global economy.
- Top 5 Companies in 2024:
- Walmart
- Amazon
- State Grid
- Saudi Aramco
- Sinopec Group
These rankings reflect the dominance of retail, energy, and state-owned enterprises in the global market.
FAQs About Reliance’s Fortune Global 500 Ranking
- How has Reliance Industries progressed in the Fortune Global 500 list?
Over the last three years, RIL has climbed 69 places, from 155th in 2021 to 86th in 2024. - What is the significance of RIL’s ranking?
RIL’s ranking as the highest-ranked Indian company reflects its financial strength, strategic expansion, and global influence. - Which business segments contributed the most to RIL’s rise?
Oil & Gas, Retail, and Digital Services have been the key drivers behind RIL’s improved ranking. - How many Indian companies are on the Fortune Global 500 list?
In 2024, there are nine Indian companies featured on the list. - What does this ranking mean for India’s global business presence?
The presence of multiple Indian companies on the list showcases India’s growing economic power and global competitiveness.
Conclusion
Reliance Industries’ consistent rise in Fortune’s Global 500 list is a testament to its strategic growth, robust financial performance, and leadership in key sectors. As RIL continues to expand globally, it strengthens its position as a leader among Indian corporations and enhances India’s standing in the global business community.
This achievement underscores the company’s potential to drive future growth and innovation, both in India and internationally.
Key Takeaways Table
| Aspect | Details |
|---|---|
| Company | Reliance Industries Limited (RIL) |
| Fortune Global 500 Rank (2024) | 86th (Up from 88th in 2023) |
| Highest-Ranked Indian Company | Yes |
| Three-Year Growth | Climbed 69 places (From 155th in 2021) |
| Revenue (FY24) | ₹10,00,122 crore (2.6% growth YoY) |
| EBITDA Growth | 16.1% increase (₹178,677 crore) |
| Key Growth Segments | Oil & Gas, Retail, Digital Services (Jio) |
| Other Indian Companies on List | IOCL, LIC, ONGC, BPCL, SBI (Public Sector) |
Related Terms:
- Reliance Industries Fortune Global 500 Ranking 2024
- India’s Top Companies in Fortune 500
- Fortune 500 Companies in India 2024
- Mukesh Ambani Reliance Ranking
- Reliance Revenue 2024 Fortune 500
- Indian Private Companies in Fortune Global 500
- Reliance Jio and Retail Growth 2024
- Top Indian Conglomerates in Global Rankings
- Fortune 500 Rankings 2024 Business News
- Reliance Industries Financial Growth 2024
