Reliance Industries Soars to 86th in 2024 Fortune Global 500

Reliance Industries Limited has ascended to the 86th spot in the 2024 Fortune Global 500 list, marking its highest-ever ranking. This achievement underscores the company's robust growth, stability, and significant impact on the Indian and global economies.

Reliance Industries Limited (RIL) has soared to the 86th position in the 2024 Fortune Global 500 list, advancing two spots from the previous year. This marks the conglomerate's highest ranking ever, highlighting its robust growth and stability in the global business landscape.

According to a press release, the climb from 88th position last year emphasizes Reliance Industries' impressive trajectory over the past three years, surging 69 places since 2021 when it stood at 155th. This leap signifies the company's strategic expansion and performance across multiple sectors. For the 21st consecutive year, Reliance Industries has maintained its status as the highest-ranked Indian corporation on the list, a record unbeaten by any other private sector entity in India.

The company's enduring presence on the list underscores its resilience and significant impact on both the Indian and global economies. The Fortune Global 500 list ranks companies based on total revenues for their fiscal years ending on or before March 31, 2024. For FY24, Reliance Industries reported record-high consolidated revenues of Rs 10,00,122 crore, up 2.6% year-on-year.

Reliance's EBITDA also saw a significant rise of 16.1% year-on-year, reaching Rs 1,78,677 crore. This growth was fueled by strong performances across its diverse business segments, including Oil to Chemicals (O2C), Oil & Gas, Retail, and Digital Services. India continues to make strides in the global business arena, with nine companies listed in this year's Fortune Global 500, including five public sector entities and four private sector firms.

Scott DeCarlo, Vice President of Research at Fortune, remarked on the importance of the list, stating, "The Global 500 is the ultimate scorecard for business success. The aggregate revenue of the Fortune Global 500 in 2023 reached $41 trillion, a record level, representing more than a third of global GDP--highlighting the immense economic power held by these companies." (ANI)

(With inputs from agencies.)