Fortune India Magazine - December 15, 2019 - March 14, 2020

In this issue

FORTUNE INDIA 500: INDIA’s LARGEST CORPORATIONS
If one wants to take a health check on corporate India, and hence get a glimpse of how the broader economy is looking, there are few better places to do that than the FORTUNE INDIA 500 (FI500) listing of India’s largest corporations.
The FI500 has always been a mix of stories of success and failure, challenges and opportunities, and it’s no different this time.
But the biggest story this year has been the emergence of a new No. 1, the first time since this list was first published in 2010.
Reliance Industries Ltd (RIL), the oil-to-telecom-to-retail megacorp owned by Asia’s richest billionaire, Mukesh Ambani, finally
toppled public sector giant Indian Oil Corporation (IOC) to take the top slot in the Fortune India 500 list this year. Last year, RIL was snapping at the heels of IOC, with the gap in their revenue at just over `14,026 crore, but this year RIL has surged ahead to top the charts
with a hefty `5.81 lakh crore in revenue, 8.35% more than IOC’s. In late November, RIL also became the first Indian company ever to hit the `10 lakh crore market capitalisation figure, as its stock surged tonew highs. The old order is changing.