Fortune India - December 2024

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Fortune 500 India: The iconic Fortune 500 India listing of the country’s biggest companies — now in its 15thedition — is always a barometer of scale. Of size that never fails to amaze.. Over the years, this list has demonstrated the ups and downs of India Inc, the challenges faced by companies in the wake of policy changes, and the way forward for the economy. The FI500 has always been a mix of stories of success and failure, challenges and opportunities, and it’s no different this time. Amid a challenging macro, Fortune 500 India companies have created a record of sorts both in terms of total income and profits. The figures tell the story, and many records have been broken this year. The cumulative profit pool grew by a smart 27.5% year-on-year to touch an all-time high of nearly `14 lakh crore, even as cumulative revenue of the Fortune500 India this year rose toa record `157 lakh crore. That’s some showing in a VUCA—volatility, uncertainty, complexity and ambiguity—world.

This year’s list once again has Reliance Industries at No.1, but there’s a change at the second spot, with Life Insurance Corp. toppling Indian Oil Corp. to bag the No.2 slot. Indian Oil and ONGC take the No.3 and No.4 positions, while State Bank of India enters the Top 5 this year, displacing Bharat Petroleum, which drops to No.6. Given the global headwinds, the current fiscal promises to be an equally eventful one for India Inc. and will test its resilience to the hilt.