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Forbes, one of the biggest business magazines in the world has released its ‘Global 2000’ list 2016 that comprises the names of 56 Indian companies. Although there has not been any change in the number of Indian companies that featured in the list since last year but their rankings have certainly improved.
The top 10 companies also remain the same in this year’s list but the ranks have changed. Reliance Industries Ltd (RIL) led by Mukesh Ambani tops the list among Indian industries with the rank 121 (last year’s rank 142). RIL has a market capitalization of $50.6 billion and is one of the most important Indian companies. Next to RIL is State Bank of India, which is ranked 149, followed by Oil and Natural Gas Corporation with a rank of 220.
Following is the list of Indian Companies that rank below 600 in Forbes Global 2000 list 2016:
Reliance Industries Ltd.
State Bank of India
Oil and Natural Gas Corporation
Larsen and Toubro
Tata Group’s automobile wing, Tata Motors has fallen down the list from the fourth rank to the sixth rank among the Indian companies. It has fallen down from 263rd to 278th position in the overall list. Tata Motor’s unsteady market share in the passenger cars market is responsible for the fall. They have made remarkable recovery in the commercial vehicles business due to the flourishing Indian industry in some sectors.
The fourth and fifth among positions are taken by ICICI Bank and HDFC Bank with overall rankings 266 and 275 respectively. Larsen and Toubro follow the list with the rank 505 on the 2016 Forbes Global 2000 list.
While others are questioning the economic progress, AM Naik, Executive Chairman, Larsen and Toubro said that even though the enactment of policy measures to accelerate growth was taking longer than anticipated, the Indian government is moving in the right direction.