2016 Fortune 500 list released: Indias India Oil Corporation ranked at 161st Place

Posted on:22 Jul 2016 11:34:17
2016 Fortune 500 list released: Indias India Oil Corporation ranked at 161st Place
22 July 2016 Current Affairs: The 2016 Fortune 500 list of the world's biggest firms was released on 21 July 2016. Seven Indian companies were featured in the list with Indian Oil Corporation (IOC) ranked highest at 161st rank with revenues of 54.7 billion US dollars. The overall list was topped by retail giant Walmart with revenue of 482.130 million US dollars.• The world's 500 largest companies generated 27.6 trillion US dollars in revenues and 1.5 trillion US dollars in profits in 2015.This year's Fortune 500 companies employ 67 million people worldwide and are represented by 33 countries.The overall list was topped by Walmart with revenue of 482.130 million US dollars, followed by State Grid at Second place and China National Petroleum at the third place. Chinese companies took over whole of the top 10 in the list. While Walmart leads the list, the next three slots are taken by Chinese companies. These are State Grid, China National Petroleum and Sinopec.More than 100 Chinese companies made to the list this year, with the US the only country with more names on the list.

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