Fortune 500 2014: India Has Just 8 Companies Compared to 128 In US And 95 In China
In the recently updated Fortune Global 500 List, Indian Oil Corporation (IOC) has emerged as the largest Indian company as it’s the only Indian company to be included in the top 100 ranking, positioned at 96th rank. Compared to last year, it has lost 8 places.
Other Indian companies included in this list of the largest 500 companies in the world are: Reliance Industries at #114, Bharat Petroleum at #242, Hindustan Petroleum at #284, Tata Motors at #287, State Bank of India at #303, ONGC at #424 and Tata Steel at #486
Only Tata Motors have improved their ranking as it was placed at 316th position last year.
A record number of women CEOs have made an entry in this year’s list: total of 17 women CEO have found their names in this exclusive list, which includes two from India: Hindustan Petroleum’s N. Vasudeva and SBI’s A. Bhattacharya.
The current Fortune’s ranking has shattered all previous records in terms of revenue generated and profit churned out. In total, world’s 500 top companies have collectively raked in revenues of $31.1 trillion, which is 2.5% more compared to 2012 data and profits have soared nearly 27% to $2 trillion.
Maximum companies in the list are still from USA: 128; although the number has dropped compared to last year. China is making rapid progression as 95 companies have secured their ranks, compared to 150 from Europe and just 8 from India. 95 Chinese companies have collectively raked in revenues worth $5.8 trillion, whereas Walmart is now the #1 company in the world with revenues of $8.6 trillion.
After a gap of two years, Walmart has finally been able to push Royal Dutch Shell from the number 1 position to #2 position. Chinese companies Sinopec Group and China National Petroleum are ranked at 3rd and 4th position respectively. Exxon Mobil is #5 in the overall ranking.
Other companies in the top 10 list include: BP at #6th; State Grid at #7; Volkswagen at #8; Toyota at #9 and Glencore at #10.
Among technological companies, Samsung is still the top firm as it has been ranked at #13 and Apple is at #14.
You can find complete rankings here.
The Indian Story
The presence of just 8 Indian companies in the overall list of top 500 globally is certainly not a thing to be proud of. On one hand India constitutes just 1.6% of the Fortune 500 Global list, whereas with 95 companies, our neighbor China constitutes 19% share.
The newly elected Indian Government is about to present it’s maiden budget in couple of days, and this count of 8 companies in the Fortune 500 List should be a major concern.
Entrepreneurship has to be encouraged; all possible help from the government and associated departments should be provided to create more companies which can compete globally.
While the change will not happen overnight, a sustained conducive environment has to be created for Industry growth in the long term !
What is your take on this?