40% Fortune 500 corporates are Asian, 7 Indian companies in the list

Indian Oil | The board has approced implementation of Petrochemical and Lube Integration Project at lndianOil's Gujarat Refinery at an estimated cost of Rs 17,825 crore. (Image: PTI)

Seven Indian companies have made it to the latest Fortune 500 list of the worlds biggest corporations in terms of revenue with the retail giant Walmart topping the global rankings, according to a report in Firstpost.com

Indian Oil Corp is ranked highest at 161st among Indian firms, while another state-run firm ONGC has moved out of the rankings for 2016. Private gems and jewellery major Rajesh Exports has made its debut at 423rd position.

Among the seven Indian companies, four are from the public sector while Reliance Industries is the top-ranked among private sector firms, followed by Tata Motors and Rajesh Exports.