Reliance climbs eight spots to 45th rank on Forbes' Global 2000 list

Billionaire Mukesh Ambani’s Reliance Industries Ltd. ranks 45, the highest for an Indian company on Forbes’ latest Global 2000 list of public companies worldwide. Find out what other Indian firms made it to this list.

Billionaire Mukesh Ambani's Reliance Industries Ltd. climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.

The Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets, and market value, Forbes said while releasing the 2023 ranking of the world's top 2,000 companies.

JPMorgan, America's biggest bank with $3.7 trillion in assets, is at the top of the list for the first time since 2011 and has emerged stronger from this spring's regional banking crisis, with more deposits and opportunistic acquisition of the failed First Republic Bank, it said.

Also read | India home to 56 of the world’s 2000 powerful companies: Forbes

Warren Buffett's Berkshire Hathaway which topped the list last year, fell to the 338th position in the latest list due to unrealised losses in its investment portfolio. Saudi oil behemoth Aramco is in 2nd position followed by three giant-sized state-owned Chinese banks. Technology giants Alphabet and Apple are at 7th and 10th place, respectively.

Oil-to-telecom conglomerate Reliance, with sales of $109.43 billion and a profit of $8.3 billion, is the top-most-ranked Indian firm at the 45th spot, climbing from the 53rd position it had held in last year's ranking. Reliance has ranked ahead of well-known names like Germany's BMW Group, Switzerland's Nestle, China's Alibaba Group, US-based Procter & Gamble and Japan's Sony.

State Bank of India climbed to the 77th spot from 105th in the 2022 ranking. HDFC Bank is at 128th position (153 in 2022) and ICICI Bank is at 163 (204 in 2022). Other Indian firms on the list include state-owned Oil and Natural Gas Corporation (ONGC) at 226 and HDFC at 232. Life Insurance Corporation (LIC) made its maiden entry at 363 while Tata Consultancy Services (TCS) slipped to 387th rank from 384 last year.