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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. JPMorgan, with USD 3.7 trillion in assets, is at the top of the list for the first time since 2011. Warren Buffett’s Berkshire Hathaway that topped the list last year, fell to the 338th position in the latest list. Saudi oil behemoth Aramco is at 2nd position followed by three giant-sized state-owned Chinese banks. Technology giants Alphabet and Apple are at 7th and 10th place, respectively. Reliance was 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 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 at 226 and HDFC (232). Life Insurance Corporation (LIC) made its maiden entry at 363 while Tata Consultancy Services (TCS) slipped to 387th rank from 384 last year.Axis Bank (423), NTPC (433), Larsen & Toubro (449), Bharti Airtel (478), Kotak Mahindra Bank (502), Indian Oil Corporation (540), Infosys (554), Bank of Baroda (586), Coal India (591), Tata Steel (592), Hindalco (660) and Vedanta (687) are other notable Indian firms on the list.In all, 55 Indian firms figured on the list.
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