Reliance Industries Ascends to Number 86 in Fortune Global 500 List for 2024
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Mumbai, August 6, 2024— Reliance Industries Limited (RIL), India’s largest conglomerate, has climbed to the 86th position on the prestigious Fortune Global 500 list for 2024. This significant advancement highlights the company’s robust performance and global influence in the energy, petrochemicals, telecommunications, and retail sectors.
RIL’s ascent in the rankings from its previous position at 104 underscores its resilient business strategies, strong revenue growth, and expanding market presence. The Fortune Global 500 list, which ranks companies based on their total revenues for the fiscal year ending on or before March 31, 2024, showcases the world’s largest and most successful corporations.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, expressed his gratitude to the company’s employees, partners, and stakeholders. “This achievement is a testament to our relentless pursuit of excellence and innovation. At Reliance, we are committed to driving growth and creating value for our stakeholders. Our focus on sustainability, technological advancement, and customer-centricity continues to propel us forward.”
Reliance Industries reported consolidated revenues of $115 billion for the fiscal year 2023-24, a significant increase from the previous year. The company’s diversified portfolio has been a key factor in its robust performance. The oil-to-chemicals (O2C) business, which remains the backbone of RIL, saw substantial growth due to increased demand and strategic expansions. Additionally, Reliance Jio, the telecom arm, and Reliance Retail have continued to disrupt their respective markets with innovative offerings and extensive reach.
The company’s commitment to sustainability and green energy has also been noteworthy. RIL has made significant investments in renewable energy projects, aiming to achieve net-zero carbon emissions by 2035. This forward-thinking approach aligns with global trends towards sustainability and positions Reliance as a leader in the energy transition.
RIL’s rise in the Fortune Global 500 list reflects not only its financial prowess but also its strategic vision and adaptability in a rapidly changing global economy. As the company continues to expand its global footprint, its influence on the global stage is set to grow even further.
This achievement comes at a time when Indian companies are increasingly making their mark on the global landscape. Reliance Industries’ success is a source of pride for the nation, showcasing the potential and capability of Indian enterprises on the world stage.
As RIL looks to the future, it remains focused on innovation, sustainability, and growth, reinforcing its position as a global leader in multiple sectors.
