56 Indian firms feature in Forbes’ Global 2000 list
The Dollar Business Bureau
Reliance Industries Ltd (RIL), the Mukesh Ambani-led conglomerate, leads the tally of 56 Indian companies which are featured in the annual list of Forbes’s 2,000 largest and most powerful public companies in the world. The US is leading the list with 586 companies.
The Forbes list of ‘Global 2000’ in 2016, a comprehensive list of the largest and biggest companies of the world, highlights the dominance of US and China in the present world business scenario.
The companies, based in the US and China, take over the top 10 positions with only Toyota Motor Corp from Japan standing at the 10th position.
India’s 56th position in the list remains the same as the previous year while RIL maintains its position of leading the biggest public company of the country.
The rank of RIL has been improved this year. It moved to 121 from 142 last year. The company has a $50.6 billion market value and $91.5 billions of assets.
RIL is followed by the State Bank of India (SBI) which is at the 149th position and has a market value of $23.3 billion.
The other companies from India which are in the list are: Oil and Natural Gas Corporation (ranked 220); ICICI Bank (266); HDFC Bank (275); Indian Oil Corporation (371); Tata Consultancy Services (385), NTPC Ltd (400); Bharti Airtel Ltd (453); Coal India Ltd (465); Axis Bank (484), Larsen and Toubro Ltd (505), Infosys (590), Bharat Petroleum Corporation Ltd (650), Wipro Ltd (755), ITC Ltd (781), Kotak Mahindra Bank (899), Mahindra and Mahindra Ltd (901), HCL Technologies (943), Tata Steel Ltd (1178) and Adani Enterprises (1993).
The banks from China which held the top three positions in the annual list are Industrial and Commercial Bank of China Ltd (ICBC), China Construction Bank Corporation and the Agricultural Bank of China Ltd (AgBank).
In spite of a sluggish Chinese economy that impacted the profits, the Chinese banks held their top positions. The state-owned Bank of China moved to sixth position from fourth last year, Forbes said.
This year’s list highlights firms from around 63 nations that collectively account for $35 trillion in revenue, $2.4 trillion in profits, $162 trillion of assets, and have a market value of $44 trillion.
In total, 586 companies from the US have featured in the list, compared to 249 from China (including mainland and Hong Kong), 219 companies from Japan, 92 firms from the UK, and 67 from South Korea.
The largest companies of the US that lead the list are Berkshire Hathaway which improved one spot to 4th overall this year, Apple is the 8th position, Bank of America ranked 11th, Walmart on 15th, Microsoft ranked 23rd, IBM is at the 41st position and Goldman Sachs ranked 77th.
The companies from the US together accounted for $11.6 trillion in revenue and $891 billion in profit.