In July 2025, Fortune, an American global business magazine released the 71st edition of ‘Fortune Global 500 List for 2025’. As per the list, India’s Reliance Industries Limited (RIL), led by Mukesh Ambani, saw a marginal dip in its ranking from 86th (2024) to 88th (2025), with total revenue of USD114.12 billion. Despite the decline in global ranking, RIL retained its highest ranking among Indian corporates featured on the list.
- Also, RIL featured on the list for the 22nd consecutive year, the longest for any private sector company.
- Walmart Inc. (the United States of America, USA), the world’s largest retailer company, with total revenue of USD 680.98 billion has topped the list as the largest company by revenue for the 12th consecutive year and the 20th time since 1995.
- American e-commerce company Amazon.com, Inc and Chinese state-owned electric utility, State Grid Corporation of China, have also retained their rankings i.e. 2nd and 3rd positions respectively.
Exam Hints:
- What? Release of Fortune Global 500 List for 2025
- Released by: Fortune
- Edition: 71st
- Top 5 Companies: Walmart Inc. (1st), Amazon.com, Inc (2nd), State Grid (3rd), Saudi Aramco (4th) and China National Petroleum (5th)
- Highest Ranked Indian Company: Reliance Industries Limited (RIL) (88th); 22nd consecutive year
- Total Indian Companies: 10
- Debut Indian Bank: ICICI Bank Limited (464th)
Fortune Global 500 List for 2025:
Criteria for Ranking: Fortune ranked companies based on total revenues for their respective fiscal years ending on or before March 31, 2025.
- Other key parameters used for ranking are: profits, balance sheets, employees, medians, and credits.
Dominant Sectors: The financial sector with 121 companies continued to dominate this year’s list; followed by energy (79), motor vehicles and parts (35), technology (34), and healthcare (33).
- Cumulatively, these sectors represent 60% of the total companies featured on the list and account for 66% of the total revenue generated.
World’s Top 5 Companies for 2025:
| Rank | Name of the Company | Country | Revenue (in USD Billion) |
|---|---|---|---|
| 1 | Walmart Inc. | The United States of America | 680.98 |
| 2 | Amazon.com, Inc | The USA | 637.95 |
| 3 | State Grid | China | 548.41 |
| 4 | Saudi Aramco | The United Arab Emirates (UAE) | 480.19 |
| 5 | China National Petroleum | China | 412.64 |
Top 5 Indian Companies for 2025:
| Rank | Name of the Company | Location | Revenue (in USD Billion) |
|---|---|---|---|
| 88 | Reliance Industries Limited (RIL) | Mumbai, Maharashtra | 114.12 |
| 95 | Life Insurance Corporation of India (LIC) | Mumbai, Maharashtra | 104.97 |
| 127 | Indian Oil Corporation Limited (IOCL) | New Delhi, Delhi | 90.09 |
| 163 | State Bank of India (SBI) | Mumbai, Maharashtra | 78.47 |
| 181 | Oil and Natural Gas Corporation (ONGC) | New Delhi, Delhi | 72.181 |
Key Highlights:
Cumulative Revenue: The combined revenue generated by the companies featured on the list reached USD 41.7 trillion in 2024 (1.8% increase compared to last year), accounting for more than 1/3rd (33.33%) of the world’s Gross Domestic Product (GDP).
Combined Profit: Together, these companies have employed 70.1 million people worldwide and have also generated USD 2.98 trillion in profit (an increase of 0.4% over the last year) in its 2nd–most profitable year.
Most Profitable Company: As per latest rankings, Saudi Aramco with net profit of USD 105 billion recorded in 2024 has emerged as the most profitable company on the list for the 4th consecutive year.
Most Represented Countries: The USA with 138 companies, has emerged as the most represented country on the list; followed by Greater China which comprises Mainland China, Hong Kong, Macau and Taiwan (130 companies).
Debutant Companies: This year, total 9 companies featured for the 1st time on the list, including QNB Group (ranked at 419th), Lithia Motors (434th).
India Firms:
Total Indian Companies: This year, total 10 Indian companies featured on the list (same as in year 2024).
- Among them, 5 are from the public sector namely, Life Insurance Corporation of India (LIC), Indian Oil Corporation Limited (IOCL), State Bank of India (SBI), Bharat Petroleum Corporation Limited (BPCL) and Oil and Natural Gas Corporation (ONGC).
- While the remaining 5 are from the private sectors: RIL, HDFC Bank Limited, ICICI Bank and Tata Motors.
LIC’s Ranking Unchanged: LIC, India’s largest insurance company, has maintained its previous ranking i.e. 95th spot in 2025, with total revenue USD 104.97 billion
Debut Indian Bank: For the 1st time, ICICI Bank Limited (ranked at 464th spot), India’s 2nd largest private sector bank, featured on the list with total revenue of USD 34.84 billion.
Gain in Indian Bank’s Ranking: India’s largest Public Sector Bank, SBI has improved its ranking by 15 places, from178th (in 2024) to 163rd (in 2025), with total revenue of USD 78.47 billion.
- While HDFC Bank Limited saw significant improvement in global ranking by 48 places, to 258th (in 2025).
About Fortune Magazine:
Chief Executive Officer (CEO)- Anastasia Nyrkovskaya
Headquarters- New York City, the United States of America (USA)
Established- 1929
