Mukesh Ambani's Reliance breaks into top-100 in 2020's Fortune Global 500 list

Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) helmed by the world's fourth-richest man, Mukesh Ambani, has secured the 96th rank in the 2020 Fortune Global 500 list released by Fortune magazine. RIL, India's top company based on market capitalization, jumped over 10 places to finally make it to the list of top-100 companies in the ranking that is considered an industry standard.

Reliance Industries among the top-100 in 2020 Fortune Global 500 

Mukesh Ambani's Reliance Industries is the only Indian company to have secured a rank in the top 100 global companies in the list published every year by the Fortune magazine which considers this yearly list as the "ultimate business scorecard". It has been 17 years now that RIL has been a part of the Fortune 500 yearly list. Other than Reliance Industries only 6 state-owned and private companies from India have been included in the list released by Fortune on Tuesday. Walmart, a major retailer from the US, tops the list. 24 private and state-owned companies from China have also been included in the Fortune 500 revered list. The Indian companies are Indian Oil, Oil & Natural gas Corporation, State Bank of India, Bharat Petroleum, Tata Motors and Rajesh Exports. 

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Jio Platforms of RIL has received 12 major investments in the last 11 weeks from the top global entities including Google, Facebook, Intel Capital, Qualcomm. KKR, Vista, General Atlantic, Public Investment Fund, Silver Lake, Mubadala, ADIA and TGP Capital. 

As per the reports, the world's top 500 companies generate a revenue of $33.3 trillion and $2.1 trillion profit in 2019. Together, there are 69.9 million people from 32 different companies who have been employed by the 2020 Fortune Global 500 company list. 

Fortune says, "It ranks companies based on total revenues of their respective fiscal years ended on or before March 31, 2020. All companies on the list must publish financial data and report part or all of their figures to a government agency. Figures are as reported, and comparisons are with the prior year's figures as originally for that year."

As per Fortune magazine, the top five companies on the Fortune 500 list are Walmart, global online retailer Amazon.com, oil manager Exxon Mobil, tech major Apple and healthcare company CVS Health. 

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